H.R. 3997 - Emergency Economic Stabilization Act of 2008

Financial Bailout - Taxation. 110th Congress (2007-2008) View bill details
Sponsor:
Summary:
An Act to amend the Internal Revenue Code of 1986 to provide tax relief and protections for military personnel, and for other purposes. (by CRS) 
Status:
 
Amendments:
3 proposed amendments. 3 accepted. View amendments 
Senate Vote: On Passage

PASSED by voice vote on December 12, 2007.

Emergency Economic Stabilization Act of 2008

H.R. 3997 — 110th Congress (2007–2008)

Keywords
Financial Bailout
Summary
An Act to amend the Internal Revenue Code of 1986 to provide tax relief and protections for military personnel, and for other purposes. (by CRS)
Learn More
At OpenCongress
Title
To amend the Internal Revenue Code of 1986 to provide earnings assistance and tax relief to members of the uniformed services, volunteer firefighters, and Peace Corps volunteers, and for other purposes.
Other Titles
  • Heroes Earnings Assistance and Relief Tax Act of 2007
  • Heroes Earnings Assistance and Relief Tax Act of 2007
  • Heroes Earnings Assistance and Relief Tax Act of 2007
  • Defenders of Freedom Tax Relief Act of 2007
  • An Act to amend the Internal Revenue Code of 1986 to provide tax relief and protections for military personnel, and for other purposes.
Sponsor
Charles Rangel
Co-Sponsors
    Subjects
    • Taxation
    • Armed forces
    • Bonds
    • Business
    • Capital gains tax
    • College costs
    • Defense policy
    • Disabled
    • Earned income tax credit
    • Education
    • Education savings accounts
    • Emergency management
    • Expatriation
    • Finance
    • Fire fighters
    • Gift tax
    • Government life insurance
    • Health insurance
    • Health policy
    • Higher education
    • Home ownership
    • Housing
    • Housing finance
    • Housing subsidies
    • Immigration
    • Income tax
    • Individual retirement accounts
    • Intelligence activities
    • Intelligence officers
    • Labor
    • Medical care
    • Military housing
    • Military operations
    • Military pay
    • Military pensions
    • Military personnel
    • Mortgages
    • Peace Corps
    • Pensions
    • Small business
    • Social services
    • Survivors' benefits
    • Tax credits
    • Tax evasion
    • Tax exclusion
    • Tax penalties
    • Tax refunds
    • Tax returns
    • Tax-deferred compensation plans
    • Valuation
    • Veterans
    • Veterans' disability compensation
    • Volunteer workers
    • Wages
    • Welfare
    Related Bills
    Major Actions
    Introduced10/30/2007
    Referred to Committee
    Amendments (3 proposed)
    Passed House11/06/2007
    Passed Senate12/12/2007
    Bill History
    Chamber/CommitteeMotionDateResult
    select this voteHouseOn Passage - House - H.R. 3997 Heroes Earnings Assistance and Relief Tax Act - Under Suspension of the Rules11/06/2007This bill PASSED the House
    410 voted YES 0 voted NO 22 voted present/not voting
    currently selectedSenatePassed Senate with an amendment and an amendment to the Title by Unanimous Consent.12/12/2007PASSED by voice vote
    select this voteSenateAmendment SA 3847 agreed to in Senate by Unanimous Consent.12/12/2007PASSED by voice vote
    select this voteSenateAmendment SA 3848 agreed to in Senate by Unanimous Consent.12/12/2007PASSED by voice vote
    select this voteSenateAmendment SA 3890 agreed to in Senate by Unanimous Consent.12/19/2007PASSED by voice vote
    select this voteHouseOn Concurring in Senate Amendment With An Amendment: H.R. 3997 To amend the Internal Revenue Code of 1986 to provide earnings assistance and tax relief to members of the uniformed services, volunteer firefighters, and Peace Corps volunteers, and for other purposes9/29/2008This motion DID NOT PASS the House
    205 voted YES 228 voted NO 1 voted present/not voting
    ActionDateDescription
    Introduced10/30/2007
    10/30/2007Referred to the House Committee on Ways and Means.
    Put on a legislative calendar11/01/2007Ordered to be Reported (Amended) by Voice Vote.
    11/01/2007Committee Consideration and Mark-up Session Held.
    11/02/2007Committee Consideration and Mark-up Session Held.
    Put on a legislative calendar11/02/2007Ordered to be Reported (Amended) by Voice Vote.
    11/06/2007Reported (Amended) by the Committee on Ways and Means. H. Rept. 110-426.
    Put on a legislative calendar11/06/2007Placed on the Union Calendar, Calendar No. 268.
    11/06/2007Mr. McDermott moved to suspend the rules and pass the bill, as amended.
    11/06/2007DEBATE - The House proceeded with forty minutes of debate on H.R. 3997.
    11/06/2007Considered under suspension of the rules.
    11/06/2007Considered as unfinished business.
    select this voteHouse Vote on Passage11/06/2007On Passage - House - H.R. 3997 Heroes Earnings Assistance and Relief Tax Act - Under Suspension of the Rules
    11/07/2007At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
    11/08/2007Received in the Senate.
    11/16/2007Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
    Put on a legislative calendar12/03/2007Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 516.
    12/12/2007Measure laid before Senate by unanimous consent.
    currently selectedSenate Vote on Passage12/12/2007Passed Senate with an amendment and an amendment to the Title by Unanimous Consent.
    12/12/2007Amendment SA 3847 proposed by Senator Harkin for Senator Baucus.
    select this voteVote12/12/2007Amendment SA 3847 agreed to in Senate by Unanimous Consent.
    12/12/2007Amendment SA 3848 proposed by Senator Harkin for Senator Baucus.
    select this voteVote12/12/2007Amendment SA 3848 agreed to in Senate by Unanimous Consent.
    12/13/2007Message on Senate action sent to the House.
    12/18/2007Message on House action received in Senate and at desk: House amendment to Senate amendment.
    12/18/2007House agreed to Senate amendment to the title. House agreed to Senate amendment to the text with an amendment pursuant to H. Res. 884.
    12/19/2007Senate concurred in the House amendment to the Senate amendment with an amendment (SA 3890) by Unanimous Consent.
    12/19/2007Amendment SA 3890 proposed by Senator Reid for Senator Baucus.
    select this voteVote12/19/2007Amendment SA 3890 agreed to in Senate by Unanimous Consent.
    12/20/2007Message on Senate action sent to the House.
    9/29/2008Rule H. Res. 1517 passed House.
    9/29/2008Pursuant to the provisions of H. Res. 1517, the House moved to agree to the Senate amendment to the House amendment to the Senate amendment with an amendment.
    9/29/2008DEBATE - The House proceeded with three hours of debate on the motion to agree to the Senate amendment to the House amendment to the Senate amendment with an amendment to H.R. 3997.
    9/29/2008Rules Committee Resolution H. Res. 1517 Reported to House. Previous question shall be considered as ordered without intervening motions. Provides for consideration of the Senate amendment to the House amendment to the Senate amendment to H.R. 3997. The resolution makes in order a motion by the Chairman of the Committee on Financial Services to concur in the Senate amendment to the House amendment to the Senate amendment with the text of the House amendment printed in this report.
    9/29/2008The previous question was ordered pursuant to the rule.
    9/29/2008On motion that the House agree to the Senate amendment to the House amendment to the Senate amendment Failed by recorded vote: 205 - 228 (Roll No. 674).
    select this voteVote9/29/2008On Concurring in Senate Amendment With An Amendment: H.R. 3997 To amend the Internal Revenue Code of 1986 to provide earnings assistance and tax relief to members of the uniformed services, volunteer firefighters, and Peace Corps volunteers, and for other purposes
    NumberSponsorDate OfferedStatus
    select this voteS. Amdt. 3847Baucus, Max [D-MT]December 12, 2007Passed by voice vote on December 11, 2007.

    To amend the Internal Revenue Code of 1986 to provide tax relief and protections to military personnel, and for other purposes.

    Show amendment details

    select this voteS. Amdt. 3848Baucus, Max [D-MT]December 12, 2007Passed by voice vote on December 11, 2007.

    To amend the title.

    Show amendment details

    select this voteS. Amdt. 3890Baucus, Max [D-MT]December 19, 2007Passed by voice vote on December 18, 2007.

    To provide for the concurrence by the Senate in the House amendment to the Senate amendments to H.R. 3997, with an amendment.

    Show amendment details

    Average contributions given to Senators from interest groups that…

    supported this bill

    $2,860
    $111,295
    $35,173
    $199,481
    $3,131
    YES$351,941
    $0
    $0
    $0
    $0
    $0
    NO$0
    5 Organizations Supported and 0 Opposed; See Which Ones

    Organizations that took a position on
    Defenders of Freedom Tax Relief Act of 2007: Passed Senate with an amendment and an amendment to the Title by Unanimous Consent.

    5 organizations supported this bill

    American Bankers Association
    (n.d.). letter to congress. Retrieved n.d., from .
    American Financial Services Association
    (n.d.). letter to pelosi. Retrieved n.d., from .
    National Association of Manufacturers
    (n.d.). NAM PRESIDENT URGES CONGRESS TO ACT QUICKLY. Retrieved n.d., from .
    Securities Industry and Financial Markets Association
    (n.d.). SIFMA urges congress. Retrieved n.d., from .
    U.S. Chamber of Commerce
    (n.d.). the chamber post. Retrieved n.d., from .

    0 organizations opposed this bill

    Need proof?

    View citations of support and opposition

    Includes reported contributions to congressional campaigns of Senators in office on day of vote, from interest groups invested in the vote according to MapLight, January 1, 2003 – December 31, 2008.
    Contributions data source: OpenSecrets.org

    Contributions by Legislator

    Namesort iconPartyState$ From Interest Groups
    That Supported
    $ From Interest Groups
    That Opposed
    Vote
    Ron WydenDOR$185,979$0Yes
    Sheldon WhitehouseDRI$275,375$0Yes
    Jim WebbDVA$147,370$0Yes
    John WarnerRVA$2,650$0Yes
    George VoinovichROH$330,342$0Yes
    David VitterRLA$346,641$0Yes
    John ThuneRSD$533,397$0Yes
    Jon TesterDMT$133,300$0Yes
    John SununuRNH$845,756$0Yes
    Ted StevensRAK$59,500$0Yes
    Debbie StabenowDMI$356,366$0Yes
    Arlen SpecterDPA$720,900$0Yes
    Olympia SnoweRME$124,900$0Yes
    Gordon SmithROR$412,799$0Yes
    Richard ShelbyRAL$911,197$0Yes
    Jeff SessionsRAL$189,430$0Yes
    Chuck SchumerDNY$1,034,889$0Yes
    Bernie SandersIVT$32,400$0Yes
    Ken SalazarDCO$347,218$0Yes
    John "Jay" RockefellerDWV$154,750$0Yes
    Charles "Pat" RobertsRKS$284,440$0Yes
    Harry ReidDNV$504,196$0Yes
    John "Jack" ReedDRI$417,018$0Yes
    Mark PryorDAR$219,742$0Yes
    Barack ObamaDIL$859,228$0Yes
    Clarence "Bill" NelsonDFL$381,065$0Yes
    Earl "Ben" NelsonDNE$329,079$0Yes
    Patty MurrayDWA$208,050$0Yes
    Lisa MurkowskiRAK$132,650$0Yes
    Barbara MikulskiDMD$82,250$0Yes
    Bob MenéndezDNJ$624,590$0Yes
    Addison "Mitch" McConnellRKY$967,399$0Yes
    Claire McCaskillDMO$187,475$0Yes
    John McCainRAZ$131,700$0Yes
    Mel MartinezRFL$609,557$0Yes
    Dick LugarRIN$161,823$0Yes
    Chester Trent LottRMS$144,088$0Yes
    Blanche LincolnDAR$299,373$0Yes
    Joe LiebermanICT$1,283,120$0Yes
    Carl LevinDMI$123,100$0Yes
    Patrick LeahyDVT$69,350$0Yes
    Frank LautenbergDNJ$382,450$0Yes
    Mary LandrieuDLA$270,632$0Yes
    Jon KylRAZ$560,543$0Yes
    Herb KohlDWI$0$0Yes
    Amy KlobucharDMN$184,260$0Yes
    John KerryDMA$107,030$0Yes
    Ted KennedyDMA$267,798$0Yes
    Tim JohnsonDSD$520,496$0Yes
    Johnny IsaksonRGA$340,219$0Yes
    Dan InouyeDHI$96,025$0Yes
    Jim InhofeROK$75,700$0Yes
    Kay Bailey HutchisonRTX$347,000$0Yes
    Orrin HatchRUT$265,550$0Yes
    Tom HarkinDIA$195,610$0Yes
    Chuck HagelRNE$140,698$0Yes
    Judd GreggRNH$217,243$0Yes
    Chuck GrassleyRIA$213,922$0Yes
    Lindsey GrahamRSC$238,049$0Yes
    Dianne FeinsteinDCA$212,749$0Yes
    Russ FeingoldDWI$90,560$0Yes
    Mike EnziRWY$198,600$0Yes
    John EnsignRNV$187,475$0Yes
    Dick DurbinDIL$395,350$0Yes
    Byron DorganDND$105,050$0Yes
    Pete DomeniciRNM$43,000$0Yes
    Mary Elizabeth DoleRNC$511,169$0Yes
    Chris DoddDCT$1,386,864$0Yes
    Jim DeMintRSC$474,033$0Yes
    Mike CrapoRID$347,521$0Yes
    Larry CraigRID$3,710$0Yes
    John CornynRTX$683,821$0Yes
    Bob CorkerRTN$594,402$0Yes
    Gaylord Kent ConradDND$283,825$0Yes
    Susan CollinsRME$298,634$0Yes
    Norm ColemanRMN$793,925$0Yes
    William Thad CochranRMS$42,900$0Yes
    Tom CoburnROK$206,092$0Yes
    Hillary ClintonDNY$2,189,910$0Yes
    Clarence Saxby ChamblissRGA$396,948$0Yes
    Bob CaseyDPA$329,795$0Yes
    Tom CarperDDE$612,903$0Yes
    Ben CardinDMD$386,441$0Yes
    Maria CantwellDWA$323,868$0Yes
    Robert ByrdDWV$58,300$0Yes
    Richard BurrRNC$572,040$0Yes
    Jim BunningRKY$364,179$0Yes
    Sam BrownbackRKS$73,594$0Yes
    Sherrod BrownDOH$220,992$0Yes
    Barbara BoxerDCA$169,930$0Yes
    Christopher "Kit" BondRMO$444,661$0Yes
    Jesse "Jeff" BingamanDNM$107,950$0Yes
    Joe BidenDDE$297,700$0Yes
    Bob BennettRUT$444,350$0Yes
    Birch "Evan" BayhDIN$676,580$0Yes
    Max BaucusDMT$575,248$0Yes
    John BarrassoRWY$61,000$0Yes
    Alan Wayne AllardRCO$19,500$0Yes
    Andrew Lamar AlexanderRTN$363,316$0Yes
    Daniel K. AkakaDHI$57,500$0Yes

    Add Data Filters:

    Legislator Filters
    Legislator Filters
    Show All
    NamePartyState$ From Interest Groups
    That Supported
    $ From Interest Groups
    That Opposed
    Vote
    Daniel K. AkakaDHI$57,500$0Yes
    Andrew Lamar AlexanderRTN$363,316$0Yes
    Alan Wayne AllardRCO$19,500$0Yes
    John BarrassoRWY$61,000$0Yes
    Max BaucusDMT$575,248$0Yes
    Birch "Evan" BayhDIN$676,580$0Yes
    Bob BennettRUT$444,350$0Yes
    Joe BidenDDE$297,700$0Yes
    Jesse "Jeff" BingamanDNM$107,950$0Yes
    Christopher "Kit" BondRMO$444,661$0Yes
    Barbara BoxerDCA$169,930$0Yes
    Sherrod BrownDOH$220,992$0Yes
    Sam BrownbackRKS$73,594$0Yes
    Jim BunningRKY$364,179$0Yes
    Richard BurrRNC$572,040$0Yes
    Robert ByrdDWV$58,300$0Yes
    Maria CantwellDWA$323,868$0Yes
    Ben CardinDMD$386,441$0Yes
    Tom CarperDDE$612,903$0Yes
    Bob CaseyDPA$329,795$0Yes
    Clarence Saxby ChamblissRGA$396,948$0Yes
    Hillary ClintonDNY$2,189,910$0Yes
    Tom CoburnROK$206,092$0Yes
    William Thad CochranRMS$42,900$0Yes
    Norm ColemanRMN$793,925$0Yes
    Susan CollinsRME$298,634$0Yes
    Gaylord Kent ConradDND$283,825$0Yes
    Bob CorkerRTN$594,402$0Yes
    John CornynRTX$683,821$0Yes
    Larry CraigRID$3,710$0Yes
    Mike CrapoRID$347,521$0Yes
    Jim DeMintRSC$474,033$0Yes
    Chris DoddDCT$1,386,864$0Yes
    Mary Elizabeth DoleRNC$511,169$0Yes
    Pete DomeniciRNM$43,000$0Yes
    Byron DorganDND$105,050$0Yes
    Dick DurbinDIL$395,350$0Yes
    John EnsignRNV$187,475$0Yes
    Mike EnziRWY$198,600$0Yes
    Russ FeingoldDWI$90,560$0Yes
    Dianne FeinsteinDCA$212,749$0Yes
    Lindsey GrahamRSC$238,049$0Yes
    Chuck GrassleyRIA$213,922$0Yes
    Judd GreggRNH$217,243$0Yes
    Chuck HagelRNE$140,698$0Yes
    Tom HarkinDIA$195,610$0Yes
    Orrin HatchRUT$265,550$0Yes
    Kay Bailey HutchisonRTX$347,000$0Yes
    Jim InhofeROK$75,700$0Yes
    Dan InouyeDHI$96,025$0Yes
    Johnny IsaksonRGA$340,219$0Yes
    Tim JohnsonDSD$520,496$0Yes
    Ted KennedyDMA$267,798$0Yes
    John KerryDMA$107,030$0Yes
    Amy KlobucharDMN$184,260$0Yes
    Herb KohlDWI$0$0Yes
    Jon KylRAZ$560,543$0Yes
    Mary LandrieuDLA$270,632$0Yes
    Frank LautenbergDNJ$382,450$0Yes
    Patrick LeahyDVT$69,350$0Yes
    Carl LevinDMI$123,100$0Yes
    Joe LiebermanICT$1,283,120$0Yes
    Blanche LincolnDAR$299,373$0Yes
    Chester Trent LottRMS$144,088$0Yes
    Dick LugarRIN$161,823$0Yes
    Mel MartinezRFL$609,557$0Yes
    John McCainRAZ$131,700$0Yes
    Claire McCaskillDMO$187,475$0Yes
    Addison "Mitch" McConnellRKY$967,399$0Yes
    Bob MenéndezDNJ$624,590$0Yes
    Barbara MikulskiDMD$82,250$0Yes
    Lisa MurkowskiRAK$132,650$0Yes
    Patty MurrayDWA$208,050$0Yes
    Earl "Ben" NelsonDNE$329,079$0Yes
    Clarence "Bill" NelsonDFL$381,065$0Yes
    Barack ObamaDIL$859,228$0Yes
    Mark PryorDAR$219,742$0Yes
    John "Jack" ReedDRI$417,018$0Yes
    Harry ReidDNV$504,196$0Yes
    Charles "Pat" RobertsRKS$284,440$0Yes
    John "Jay" RockefellerDWV$154,750$0Yes
    Ken SalazarDCO$347,218$0Yes
    Bernie SandersIVT$32,400$0Yes
    Chuck SchumerDNY$1,034,889$0Yes
    Jeff SessionsRAL$189,430$0Yes
    Richard ShelbyRAL$911,197$0Yes
    Gordon SmithROR$412,799$0Yes
    Olympia SnoweRME$124,900$0Yes
    Arlen SpecterDPA$720,900$0Yes
    Debbie StabenowDMI$356,366$0Yes
    Ted StevensRAK$59,500$0Yes
    John SununuRNH$845,756$0Yes
    Jon TesterDMT$133,300$0Yes
    John ThuneRSD$533,397$0Yes
    David VitterRLA$346,641$0Yes
    George VoinovichROH$330,342$0Yes
    John WarnerRVA$2,650$0Yes
    Jim WebbDVA$147,370$0Yes
    Sheldon WhitehouseDRI$275,375$0Yes
    Ron WydenDOR$185,979$0Yes

    Interest Groups that supported this bill

    $ Donated
    Security brokers & investment companies$19,948,090
    Commercial banks & bank holding companies$11,129,546
    Credit agencies & finance companies$3,517,338
    Manufacturing$313,104
    Chambers of commerce$285,984

    Interest Groups that opposed this bill

    $ Donated
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