Individual Income Tax Rate Reduction Act of 2001

1/17/2023, 12:33 AM
Individual Income Tax Rate Reduction Act of 2001 - Amends the Internal Revenue Code to establish new, lower tax rates for individuals. Increases the standard deduction and provides that such deduction on a joint return shall be twice the amount of a single return.
Congress
107
Number
HR - 942
Introduced on
2001-03-08
# Amendments
0
Sponsors
+5

Variations and Revisions

3/8/2001
Text
PDF

Status of Legislation

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

Purpose and Summary

Individual Income Tax Rate Reduction Act of 2001 - Amends the Internal Revenue Code to establish new, lower tax rates for individuals. Increases the standard deduction and provides that such deduction on a joint return shall be twice the amount of a single return.
Alternative Names
Official Title as IntroducedTo amend the Internal Revenue Code of 1986 to reduce individual income tax rates and increase the standard deduction.
Policy Areas
Taxation
Potential Impact
Cost of living adjustments•
Economics and Public Finance•
Income tax•
Indexing (Economic policy)•
Personal income tax•
Tax cuts•
Tax deductions•
Tax rates

Comments

Related

Bill Update Alert:  Economic Growth and Tax Relief Reconciliation Act of 2001
Member:  Mac Collins

Recent Activity

Latest Summary11/28/2006
Individual Income Tax Rate Reduction Act of 2001 - Amends the Internal Revenue Code to establish new, lower tax rates for individuals. Increases the standard deduction and provides that such deduction on a joint return shall be twice the amount of a ...
Latest Action8/13/2001
See H.R.1836.