Political Quotes

“I ask unanimous consent that the text of the bill by printed in the Record. There being no objection, the text of the bill was ordered to be printed in the Record, as follows: S. 749 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 ``Fair Elections Revenue Act of 2011''. SEC. 2. FAIR ELECTIONS FUND REVENUE. (a) In General.--The Internal Revenue Code of 1986 is amended by inserting after chapter 36 the following new chapter: ``CHAPTER 37--TAX ON PAYMENTS PURSUANT TO CERTAIN GOVERNMENT CONTRACTS ``Sec. 4501. Imposition of tax. ``SEC. 4501. IMPOSITION OF TAX. ``(a) Tax Imposed.--There is hereby imposed on any payment made to a qualified person pursuant to a contract with the Government of the United States a tax equal to 0.50 percent of the amount paid. ``(b) Limitation.--The aggregate amount of tax imposed under subsection (a) for any calendar year shall not exceed $500,000. ``(c) Qualified Person.--For purposes of this section, the term `qualified person' means any person which-- ``(1) is not a State or local government, a foreign nation, or an organization described in section 501(c)(3) which is exempt from taxation under section 501(a), and ``(2) has contracts with the Government of the United States with a value in excess of $10,000,000. ``(d) Payment of Tax.--The tax imposed by this section shall be paid by the person receiving such payment.…”