Option #1: Tax Legislation Process Prepare a research paper on how a piece of ta

Question

Option #1: Tax Legislation Process Prepare a research paper on how a piece of tax legislation becomes tax law. Your research should include: An explanation of the various levels of government involved in the process. An analysis of the how a House of Representatives tax bill can differ from a Senate bill. An explanation of the role of the general public in the tax legislation process. Your paper must meet the following requirements: Your written paper should be 1-3 pages in length not counting the title and reference pages, which you must include. Use key terms such as “LLC” and “Taxation,” for example. Use terms, evidence, and concepts from class readings.

Explanation / Answer

There are three level of Government: Federal government, State Government and Local Government.

Each level of Government will be divided into three branches:

The legislative branch: which makes the laws,

The executive branch: which carries out the laws,

The judicial branch: which applies the laws to specific court cases, determines whether someone has broken the law, and evaluates laws to make certain that they are legitimate.

Difference between House of representatives and Senate Bills are as follows: This is as per my knowledge and i have tried to answer to the best i can:

That’s a lot of fine print to work out. Every change involves millions or billions of dollars. The individual mandate in particular is a lot of money: $330 billion, according to the Congressional Budget Office, because fewer people would have insurance and there would be less federal spending on Medicaid and insurance subsidies.

The Senate will likely have a stronger hand in these negotiations: It’s the upper chamber that must navigate the byzantine “budget reconciliation” rules and a smaller margin for error.

General public is closely involved in every aspect of the tax legislative process.

Among other things, They would:

(1) prepares hearing pamphlets, committee reports, and conference reports (statements of managers),

(2) assists in the drafting of statutory language,

(3) assists Members of Congress with the development and analysis of legislative proposals,

(4) assists Members of Congress in addressing constituent issues and problems,

(5) prepares revenue estimates of all revenue legislation considered by the Congress, (6) reviews proposed large income tax refunds,

(7) initiates investigations of various aspects of the Federal tax system.

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