Economic Recovery and Growth Act of 2001

1/17/2023, 12:03 AM
Economic Recovery and Growth Act of 2001 - Amends the Internal Revenue Code with respect to reducing or repealing, among other things: (1) tax rates for individuals; (2) alternative minimum tax; (3) capital gains; (4) estate and gift tax; (5) marriage penalty; (6) Federal communications excise tax; (7) taxes for farmers, ranchers, fishermen; and (8) occupational taxes relating to alcoholic beverages.

Increases, extends, or expands tax benefits with respect to, among other things: (1) pensions and individual retirement accounts (IRAs); (2) child tax credit; (3) education IRAs and qualified tuition programs; (4) adoption expenses credit; (5) charitable contributions; (6) social security benefits; (7) expense treatment for small businesses; (8) self-employed health insurance cost deduction; and (9) research credit.

Congress
107
Number
HR - 1018
Introduced on
2001-03-14
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

3/14/2001
Text
PDF

Status of Legislation

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

Purpose and Summary

Economic Recovery and Growth Act of 2001 - Amends the Internal Revenue Code with respect to reducing or repealing, among other things: (1) tax rates for individuals; (2) alternative minimum tax; (3) capital gains; (4) estate and gift tax; (5) marriage penalty; (6) Federal communications excise tax; (7) taxes for farmers, ranchers, fishermen; and (8) occupational taxes relating to alcoholic beverages.

Increases, extends, or expands tax benefits with respect to, among other things: (1) pensions and individual retirement accounts (IRAs); (2) child tax credit; (3) education IRAs and qualified tuition programs; (4) adoption expenses credit; (5) charitable contributions; (6) social security benefits; (7) expense treatment for small businesses; (8) self-employed health insurance cost deduction; and (9) research credit.

Alternative Names
Official Title as IntroducedTo amend the Internal Revenue Code of 1986 to provide for economic growth by providing tax relief.
Policy Areas
Taxation
Potential Impact
Accidents•
Accounting•
Administrative procedure•
Adopted children•
Adoption•
Adoptive parents•
Agriculture and Food•
Alcohol tax•
Annuities•
Business income tax•
Capital gains tax•
Charitable contributions•
Churches•
Civil Service pensions•
Clergy•
Collective bargaining agreements•
Commerce•
Congress•
Congressional reporting requirements•
Corporate philanthropy•
Corporation taxes•
Cost of living adjustments•
Costs•
Defined benefit pension plans•
Defined contribution plans•
Department of the Treasury•
Depreciation and amortization•
Disasters•
Dismissal of employees•
Dividends•
Divorce•
Divorcees•
Economics and Public Finance•
Education•
Education savings accounts•
Elementary and secondary education•
Elementary education•
Emergency Management•
Employee ownership•
Estate tax•
Excise tax•
Executive compensation•
Executives•
Expense accounts•
Families•
Farmers•
Federal employees•
Finance and Financial Sector•
Financial planning•
Financial services•
Financial statements•
Fines (Penalties)•
Fisheries•
Fringe benefits•
Gift tax•
Government Operations and Politics•
Government paperwork•
Government publicity•
Government trust funds•
Governmental investigations•
Health•
Health insurance•
Higher education•
Home schooling•
Income tax•
Indexing (Economic policy)•
Individual retirement accounts•
Insurance premiums•
Labor and Employment•
Law•
Life expectancy•
Limitation of actions•
Loans•
Local employees•
Losses•
Marine and coastal resources, fisheries•
Married people•
Medical economics•
Medicare•
Minimum tax•
Old age, survivors and disability insurance•
Partnerships•
Pension funds•
Pension portability•
Personal income tax•
Profit sharing•
Religion•
Research and development tax credit•
Risk management•
Saving and investment•
Science, Technology, Communications•
Secondary education•
Securities regulation•
Self-employed•
Small business•
Social Welfare•
State employees•
Stocks•
Tax administration•
Tax credits•
Tax cuts•
Tax deductions•
Tax exclusion•
Tax penalties•
Tax rates•
Tax refunds•
Tax returns•
Tax-deferred compensation plans•
Tax-exempt organizations•
Telecommunication rates•
Trusts and trustees•
User charges•
Valuation•
Women•
Women's retirement

Comments

Related

Member:  Jim Ryun
Bill Update Alert:  Economic Growth and Tax Relief Reconciliation Act of 2001
Member:  Sue Wilkins Myrick
Member:  Bob Schaffer
Member:  Mike Pence
Member:  John N. Hostettler
Member:  Peter Hoekstra
Member:  Dana Rohrabacher
Member:  Walter B. Jones
Member:  Gary G. Miller
Member:  Ernest J. Istook Jr.
Member:  Mark Kirk
Member:  Thomas G. Tancredo
Member:  Dan Miller
Member:  Dave Weldon
Member:  Joseph R. Pitts
Member:  Paul D. Ryan
Member:  Melissa A. Hart
Member:  Steve Largent
Member:  John B. Shadegg
Member:  Mark E. Souder
Member:  Patrick J. Tiberi
Member:  John Abney Culberson
Member:  Henry Bonilla
Member:  Richard K. Armey
Member:  Joel Hefley
Member:  Christopher Cox
Member:  J. D. Hayworth
Member:  Bob Barr
Member:  Jim DeMint
Member:  Roscoe G. Bartlett
Member:  John T. Doolittle
Member:  Wally Herger
Member:  Eric Cantor
Member:  Jo Ann Davis
Member:  W. Todd Akin
Member:  Dan Burton
Member:  Richard H. Baker
Member:  Jeff Flake

Recent Activity

Latest Summary11/28/2006
Economic Recovery and Growth Act of 2001 - Amends the Internal Revenue Code with respect to reducing or repealing, among other things: (1) tax rates for individuals; (2) alternative minimum tax; (3) capital gains; (4) estate and gift tax; (5) marriag...
Latest Action8/13/2001
See H.R.1836.