H.R.5783 - Investing in Our Future Act of 2010111th Congress (2009-2010)
|Sponsor:||Rep. Stark, Fortney Pete [D-CA-13] (Introduced 07/20/2010)|
|Committees:||House - Foreign Affairs; Ways and Means|
|Latest Action:||07/20/2010 Referred to the Committee on Ways and Means, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.|
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Summary: H.R.5783 — 111th Congress (2009-2010)All Bill Information (Except Text)
Introduced in House (07/20/2010)
Investing in Our Future Act of 2010 - Amends the Internal Revenue Code to impose an excise tax on currency transactions exceeding $10,000 equal to 0.005% of the value of the currency acquired in the transaction (currency transaction tax).
Establishes in the Treasury: (1) the Child Care Assistance Trust Fund, which shall be funded with 20% of the revenues from the currency transactions tax and which shall be used to provide increased allocations to states for child care assistance; (2) the Multilateral Global Health Trust Fund, which shall be funded with 40% of the revenues from such tax and from which the Secretary of State shall make grants to assist developing countries in addressing HIV/AIDS, tuberculosis, malaria, maternal mortality, family planning, neglected diseases, and other health issues; and (3) the Global Climate Change Adaptation and Mitigation Trust Fund, which shall be funded with 40% of the revenues from such tax and which shall be used for contributions to a United Nations Framework Convention on Climate Change global climate fund for climate change adaptation and mitigation.