Restoring Earnings to Lift Individuals and Empower Families (RELIEF) Act of 2001

Hozzl · 2019-11-15T21:54:15Z

Explore the details of Senate Bill 896 Restoring Earnings to Lift Individuals and Empower Families (RELIEF) Act of 2001 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

11/15/2019, 9:54 PM

Congressional Summary of S 896

Restoring Earnings To Lift Individuals and Empower Families (RELIEF) Act of 2001 - Amends the Internal Revenue Code to, among other things: (1) provide for lower income tax rates; (2) increase the income required before beginning the phase out of itemized deductions; (3) repeal the personal exemption phase out; (4) increase the child tax credit; (5) provide for the equalization of tax rates for those filing jointly and those filing singly (provides "marriage penalty" relief); (6) increase assistance to education through tax revisions such as increasing contributions allowed to education IRAs, excluding certain scholarship amounts from income, and providing special treatment for bonds used to finance educational facilities; (7) repeal the estate and generation skipping transfer taxes; (8) reduce the gift tax rate; (9) increase pension and IRA contribution limits and benefits; and (10) increase the alternative minimum tax exemption.

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Current Status of Bill S 896

Bill S 896 is currently in the status of Bill Introduced since May 16, 2001. Bill S 896 was introduced during Congress 107 and was introduced to the Senate on May 16, 2001. Bill S 896's most recent activity was Placed on Senate Legislative Calendar under General Orders. Calendar No. 43. as of May 16, 2001

Bipartisan Support of Bill S 896

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 896

Primary Policy Focus

Taxation

Potential Impact Areas

- Accounting

- Administrative procedure

- Aircraft pilots

- Airlines

- Alaska

- Alien labor

- Annuities

- Armed Forces and National Security

- Building construction

- Business income tax

- Capital gains tax

- Charities

- Church schools

- Civil Service pensions

- College costs

- Commerce

- Conservation easements

- Construction costs

- Consumer credit

- Corporation taxes

- Cost of living adjustments

- Defined benefit pension plans

- Defined contribution plans

- Department of the Treasury

- Disabled

- Disaster relief

- Disasters

- Dividends

- Divorce

- Divorcees

- Earned income tax credit

- Economics and Public Finance

- Education

- Education of disabled students

- Education savings accounts

- Educational finance

- Elementary and secondary education

- Elementary schools

- Emergency Management

- Employee benefit plans

- Employee ownership

- Environmental Protection

- Estate tax

- Estates (Law)

- Excise tax

- Executive compensation

- Executive reorganization

- Families

- Family enterprises

- Finance and Financial Sector

- Financial planning

- Financial services

- Financial statements

- Foster home care

- Gift tax

- Government Operations and Politics

- Government paperwork

- Governmental investigations

- Graduate education

- Health

- Health insurance

- High schools

- Higher education

- Household workers

- Housing and Community Development

- Housing finance

- Immigration

- Income tax

- Indexing (Economic policy)

- Indian claims

- Indian lands

- Indigenous peoples

- Individual retirement accounts

- Inheritance tax

- Insurance premiums

- Insurance rates

- Interest

- Internal revenue law

- Investments

- Labor and Employment

- Land transfers

- Law

- Life expectancy

- Limitation of actions

- Loans

- Local employees

- Married people

- Medical economics

- Medical research

- Merchant seamen

- Military medicine

- Minimum tax

- Minorities

- Partnerships

- Pension funds

- Pension portability

- Pension trust guaranty insurance

- Personal income tax

- Private schools

- Privatization

- Profit sharing

- Public Lands and Natural Resources

- Public health personnel

- Public-private partnerships

- Real estate appraisal

- Real estate business

- Religion

- Scholarships

- School buildings

- Secondary education

- Small business

- Social Welfare

- Special education

- State employees

- State taxation

- Stockholders

- Stocks

- Student aid

- Student loan funds

- Survivors' benefits

- Tax administration

- Tax auditing

- Tax credits

- Tax cuts

- Tax deductions

- Tax exclusion

- Tax exemption

- Tax penalties

- Tax rates

- Tax refunds

- Tax returns

- Tax-deferred compensation plans

- Tax-exempt organizations

- Tax-exempt securities

- Taxation of foreign income

- Taxpayer compliance

- Transportation and Public Works

- Trusts and trustees

- Tuition tax credits

- User charges

- Valuation

- Widowers

- Widows

- Withholding tax

- Women

- Women's retirement

Alternate Title(s) of Bill S 896

Restoring Earnings to Lift Individuals and Empower Families (RELIEF) Act of 2001

Tax Cut Reconciliation bill

Restoring Earnings to Lift Individuals and Empower Families (RELIEF) Act of 2001

An original bill to provide for reconciliation pursuant to section 103 of the concurrent resolution on the budget for fiscal year 2002 (H.Con.Res. 83).