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Individual Income Tax Rate Reduction Act of 2001
1/17/2023, 12:33 AM
Congressional Summary of HR 942
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.
Read the Full Bill
Current Status of Bill HR 942
Bill HR 942 is currently in the status of Bill Introduced since March 8, 2001. Bill HR 942 was introduced during Congress 107 and was introduced to the House on March 8, 2001. Bill HR 942's most recent activity was See H.R.1836. as of August 13, 2001
Bipartisan Support of Bill HR 942
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 942
Primary Policy Focus
TaxationPotential Impact Areas
- Cost of living adjustments
- Economics and Public Finance
- Income tax
- Indexing (Economic policy)
- Personal income tax
- Tax cuts
- Tax deductions
- Tax rates
Alternate Title(s) of Bill HR 942
Individual Income Tax Rate Reduction Act of 2001
To amend the Internal Revenue Code of 1986 to reduce individual income tax rates and increase the standard deduction.
Individual Income Tax Rate Reduction Act of 2001
Comments
Sponsors and Cosponsors of HR 942
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