S. 2343 — 112th Congress

Stop the Student Loan Interest Rate Hike Act of 2012

Originated in the Senate · Introduced Apr 24, 2012 · Education

Sponsor

More bills from this sponsor

112th Congress

Measure	Title
S. 3637 · Finance and Financial Sector	A bill to temporarily extend the transaction account guarantee program, and for other purposes.
S. 3412 · Taxation	Middle Class Tax Cut Act
S. 2237 · Taxation	Small Business Jobs and Tax Relief Act
S. 1660 · Economics and Public Finance	American Jobs Act of 2011
S. 1323 · Economics and Public Finance	A bill to express the sense of the Senate on shared sacrifice in resolving the budget deficit.

Latest action

May 24, 2012

Returned to the Calendar. Calendar No. 365.

CRS summary

As of Apr 24, 2012

Introduced in Senate

Stop the Student Loan Interest Rate Hike Act of 2012 - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to make the 3.4% interest rate on Direct Stafford loans first disbursed to undergraduate students between July 1, 2011, and July 1, 2012, applicable to Direct Stafford loans first disbursed to undergraduate students between July 1, 2011, and July 1, 2013.

Amends the Internal Revenue Code and title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to require certain shareholders of a subchapter S corporation engaged as a partner in a professional service business to include income or loss attributable to such business in their net earnings from self-employment for employment tax purposes.

Restricts such tax treatment to shareholders whose modified adjusted gross income exceeds a specified amount that varies based on their tax filing status.

Defines a "professional service business" as any trade or business providing services in the fields of health, law, lobbying, engineering, architecture, accounting, actuarial science, performing arts, consulting, athletics, investment advice or management, or brokerage services.

Congressional Research Service, via api.congress.gov (public domain)

Roll-call votes

3 on record

Date	Chamber	Question	Member pages	Result
May 24, 2012	Senate	On Passage of the Bill	—	Bill Defeated (51–43)
May 24, 2012	Senate	On the Amendment	—	Amendment Rejected (34–62)
May 8, 2012	Senate	On Cloture on the Motion to Proceed	—	Cloture on the Motion to Proceed Rejected (52–45)

Member pages currently show roll-call votes from the 119th Congress only. The “Member pages” column marks votes from that congress.