End Wasteful Tax Loopholes Act

End Wasteful Tax Loopholes Act - Expresses the sense of the Senate that Congress should enact legislation to: (1) eliminate wasteful tax loopholes; (2) eliminate corporate tax loopholes and wasteful tax breaks for special interests; (3) enhance tax fairness by reforming or eliminating tax breaks that provide excessive benefits to millionaires and billionaires; (4) crack down on tax cheaters and close the tax gap; (5) use the revenue saved by curtailing tax loopholes to reduce the deficit and reform the federal tax code; (6) address provisions in the tax code that make it more profitable for companies to create jobs overseas than in the United States; and (7) reform the tax code in a manner that promotes job creation, competitiveness, and economic growth.

[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[S. 8 Introduced in Senate (IS)]

113th CONGRESS
  1st Session
                                  S. 8

Expressing the sense of the Senate on the need to enact legislation to 
                   eliminate wasteful tax loopholes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

             January 22 (legislative day, January 3), 2013

 Mr. Reid (for himself, Mr. Durbin, Mr. Schumer, Mrs. Gillibrand, Mr. 
  Lautenberg, Mr. Menendez, Mr. Brown, Mr. Schatz, Mr. Sanders, Mrs. 
Boxer, Mr. Blumenthal, Mr. Cardin, Mr. Coons, and Mr. Levin) introduced 
the following bill; which was read twice and referred to the Committee 
                               on Finance

_______________________________________________________________________

                                 A BILL


 
Expressing the sense of the Senate on the need to enact legislation to 
                   eliminate wasteful tax loopholes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``End Wasteful Tax Loopholes Act''.

SEC. 2. SENSE OF THE SENATE ON THE ELIMINATION OF TAX LOOPHOLES.

    It is the sense of the Senate that Congress should enact 
legislation to--
            (1) eliminate wasteful tax loopholes that create incentives 
        for taxpayers to engage in transactions that have no economic 
        substance solely to lower their tax bills;
            (2) eliminate corporate tax loopholes and wasteful tax 
        breaks for special interests;
            (3) enhance tax fairness by reforming or eliminating tax 
        breaks that provide excessive benefits to millionaires and 
        billionaires;
            (4) crack down on tax cheaters and close the tax gap;
            (5) use the revenue saved by curtailing tax loopholes to 
        reduce the Federal deficit and reform the Federal tax code;
            (6) address provisions in the Federal tax code that make it 
        more profitable for companies to create jobs overseas than in 
        the United States; and
            (7) reform the Federal tax code in a manner that promotes 
        job creation, competitiveness, and economic growth in the 
        United States.
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