Rural American Prosperity Act of 2001

1/16/2023, 11:18 PM
Rural America Prosperity Act of 2001 - Amends the Internal Revenue Code to make revisions concerning both farmers and non-farmers.

Provides for, with respect to all taxpayers, among other things: (1) the repeal of the estate, gift, and generation-skipping taxes; and (2) the deduction of 100 percent of health insurance costs for the self-employed.

Provides for, with respect to farmers, among other things: (1) the limited exclusion of the gain from the sale of qualified farmland; and (2) a limited deduction for contributions to a Farm and Ranch Risk Management Account.

Provides for a study of the costs of regulations on farmers, ranchers, and foresters.

Reciprocal Trade Agreement Authorities Act of 2000 - Authorizes the President, whenever the President determines that one or more existing duties or other import restrictions of any foreign country or the United States are unduly burdening and restricting the foreign trade of the United States to enter into trade agreements with foreign countries (during a limited time period) which, among other things: (1) create more open, equitable, and reciprocal market access; (2) reduce or eliminate trade barriers that decrease market opportunities for U.S. exports; (3) expand market opportunities for U.S. exports; (4) obtain reciprocal tariff and non-tariff barrier elimination; and (5) free the transfer of funds relating to investments.

Agricultural Trade Freedom Act - Amends the Agricultural trade Act of 1978 to exempt, subject to specified exceptions, agricultural commodities made available as a result of commercial sales from a unilateral trade sanction imposed by the United States on another country.

Congress
107

Number
HR - 627

Introduced on
2001-02-14

# Amendments
0

Sponsors
+5

Cosponsors
+5

Variations and Revisions

2/14/2001

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Rural America Prosperity Act of 2001 - Amends the Internal Revenue Code to make revisions concerning both farmers and non-farmers.

Provides for, with respect to all taxpayers, among other things: (1) the repeal of the estate, gift, and generation-skipping taxes; and (2) the deduction of 100 percent of health insurance costs for the self-employed.

Provides for, with respect to farmers, among other things: (1) the limited exclusion of the gain from the sale of qualified farmland; and (2) a limited deduction for contributions to a Farm and Ranch Risk Management Account.

Provides for a study of the costs of regulations on farmers, ranchers, and foresters.

Reciprocal Trade Agreement Authorities Act of 2000 - Authorizes the President, whenever the President determines that one or more existing duties or other import restrictions of any foreign country or the United States are unduly burdening and restricting the foreign trade of the United States to enter into trade agreements with foreign countries (during a limited time period) which, among other things: (1) create more open, equitable, and reciprocal market access; (2) reduce or eliminate trade barriers that decrease market opportunities for U.S. exports; (3) expand market opportunities for U.S. exports; (4) obtain reciprocal tariff and non-tariff barrier elimination; and (5) free the transfer of funds relating to investments.

Agricultural Trade Freedom Act - Amends the Agricultural trade Act of 1978 to exempt, subject to specified exceptions, agricultural commodities made available as a result of commercial sales from a unilateral trade sanction imposed by the United States on another country.

Alternative Names
Official Title as IntroducedTo provide tax and regulatory relief for farmers and to improve the competitiveness of American agricultural commodities and products in global markets.

Policy Areas
Agriculture and Food

Potential Impact
Administrative procedure•
Agricultural biotechnology•
Agricultural innovations•
Agricultural production•
Agricultural subsidies•
Agriculture in foreign trade•
American investments•
Animals•
Antidumping•
Barter•
Business income tax•
Capital gains tax•
Child labor•
Chile•
Civil Rights and Liberties, Minority Issues•
Commerce•
Compensation (Law)•
Congress•
Congress and foreign policy•
Congressional investigations•
Congressional oversight•
Congressional reporting requirements•
Congressional veto•
Congressional-Presidential relations•
Congressional-executive relations•
Conservation easements•
Consumer protection•
Cost of living adjustments•
Countervailing duties•
Developing countries•
Dispute settlement•
Dumping•
Economic growth•
Economic impact statements•
Economics and Public Finance•
Employee rights•
Environmental Protection•
Estate tax•
Excise tax•
Expedited congressional procedure•
Export subsidies•
Exports•
Expropriation•
Families•
Family farms•
Farm income•
Farm lands•
Farmers•
Federal advisory bodies•
Finance and Financial Sector•
Financial services•
Financial statements•
Food relief•
Food safety•
Foreign Trade and International Finance•
Foreign investments•
Foreign trade promotion•
Forestry•
Free trade•
Full employment policies•
Gift tax•
Government Operations and Politics•
Government paperwork•
Health•
Health insurance•
House rules and procedure•
Human rights•
Import relief•
Income tax•
Indexing (Economic policy)•
Information technology•
Inheritance tax•
Insurance premiums•
Intellectual property•
International Affairs•
International competitiveness•
International labor activities•
Labor and Employment•
Latin America•
Law•
Legislation•
Legislative resolutions•
Livestock•
Medical economics•
Minimum tax•
National forests•
Nontariff trade barriers•
Occupational health and safety•
Personal income tax•
President and foreign policy•
Public Lands and Natural Resources•
Real estate appraisal•
Reciprocity•
Regulatory impact statements•
Restrictive trade practices•
Sanctions (International law)•
Science, Technology, Communications•
Self-employed•
Senate rules and procedure•
Service industries•
Standard of living•
Tariff•
Tariff agreements•
Tax administration•
Tax credits•
Tax cuts•
Tax deductions•
Tax deferral•
Tax exclusion•
Tax exemption•
Tax penalties•
Tax rates•
Tax returns•
Taxation•
Technological innovations•
Trade agreements•
Trade negotiations•
Trusts and trustees•
Valuation•
Wilderness areas

Comments

Recent Activity

Latest Summary11/28/2006
Rural America Prosperity Act of 2001 - Amends the Internal Revenue Code to make revisions concerning both farmers and non-farmers.

Provides for, with respect to all taxpayers, among other things: (1) the repeal of the estate, gift, and generation-s...


Latest Action8/13/2001
See H.R.1836.