Bill > S388

This bill, the American Family Economic Protection Act of 2013, aims to adjust spending limits, support agricultural programs, and reform tax provisions. It proposes to modify discretionary spending limits for fiscal years 2013 through 2021, categorizing them into "security" and "nonsecurity" areas, and also adjusts the treatment of "sequestration," which refers to automatic, across-the-board spending cuts mandated by the Budget Control Act of 1985, by postponing certain sequestration measures for 2013 and adjusting related dates. The bill extends and modifies various agricultural programs, including commodity, conservation, nutrition assistance, research, energy, horticulture, and rural development programs, and provides supplemental disaster assistance. Furthermore, it introduces a "fair share tax" on high-income taxpayers, defined as those with adjusted gross income over $1 million, imposing a 30% tax on income exceeding a certain threshold, and denies deductions for "outsourcing expenses," which are defined as costs associated with eliminating a U.S. business unit and establishing one abroad. Finally, it makes technical adjustments to the tax on petroleum.