Rural American Prosperity Act of 2001

Hozzl · 2023-01-16T23:18:07Z

Explore the details of House Bill 627 Rural American Prosperity Act of 2001 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Agriculture and Food. Stay informed on legislative developments.

1/16/2023, 11:18 PM

Congressional Summary of HR 627

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.

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Current Status of Bill HR 627

Bill HR 627 is currently in the status of Bill Introduced since February 14, 2001. Bill HR 627 was introduced during Congress 107 and was introduced to the House on February 14, 2001. Bill HR 627's most recent activity was See H.R.1836. as of August 13, 2001

Bipartisan Support of Bill HR 627

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 627

Primary Policy Focus

Agriculture and Food

Potential Impact Areas

Administrative procedureAgricultural biotechnologyAgricultural innovationsAgricultural productionAgricultural subsidiesAgriculture in foreign tradeAmerican investmentsAnimalsAntidumpingBarterBusiness income taxCapital gains taxChild laborChileCivil Rights and Liberties, Minority IssuesCommerceCompensation (Law)CongressCongress and foreign policyCongressional investigationsCongressional oversightCongressional reporting requirementsCongressional vetoCongressional-Presidential relationsCongressional-executive relationsConservation easementsConsumer protectionCost of living adjustmentsCountervailing dutiesDeveloping countriesDispute settlementDumpingEconomic growthEconomic impact statementsEconomics and Public FinanceEmployee rightsEnvironmental ProtectionEstate taxExcise taxExpedited congressional procedureExport subsidiesExportsExpropriationFamiliesFamily farmsFarm incomeFarm landsFarmersFederal advisory bodiesFinance and Financial SectorFinancial servicesFinancial statementsFood reliefFood safetyForeign Trade and International FinanceForeign investmentsForeign trade promotionForestryFree tradeFull employment policiesGift taxGovernment Operations and PoliticsGovernment paperworkHealthHealth insuranceHouse rules and procedureHuman rightsImport reliefIncome taxIndexing (Economic policy)Information technologyInheritance taxInsurance premiumsIntellectual propertyInternational AffairsInternational competitivenessInternational labor activitiesLabor and EmploymentLatin AmericaLawLegislationLegislative resolutionsLivestockMedical economicsMinimum taxNational forestsNontariff trade barriersOccupational health and safetyPersonal income taxPresident and foreign policyPublic Lands and Natural ResourcesReal estate appraisalReciprocityRegulatory impact statementsRestrictive trade practicesSanctions (International law)Science, Technology, CommunicationsSelf-employedSenate rules and procedureService industriesStandard of livingTariffTariff agreementsTax administrationTax creditsTax cutsTax deductionsTax deferralTax exclusionTax exemptionTax penaltiesTax ratesTax returnsTaxationTechnological innovationsTrade agreementsTrade negotiationsTrusts and trusteesValuationWilderness areas

Alternate Title(s) of Bill HR 627

Rural American Prosperity Act of 2001To provide tax and regulatory relief for farmers and to improve the competitiveness of American agricultural commodities and products in global markets.Rural American Prosperity Act of 2001Agricultural Trade Freedom ActReciprocal Trade Agreement Authorities Act of 2001

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