(Sec. 2) Amends the Internal Revenue Code (IRC) to provide that the basic standard deduction for a married couple filing jointly shall be twice the basic standard deduction for an unmarried individual, beginning in 2000.
(Sec. 3) Provides that the 15 percent regular income tax bracket for a married couple filing jointly shall be twice the size of the corresponding bracket for an unmarried individual. Sets forth a graduated phase-in beginning in 2000 and fully effective in 2004.
(Sec. 4) Increases the beginning point of the phase-out range of the earned income credit for married couples filing jointly by $2,000, beginning in 2000.
(Sec. 5) Revises provisions concerning the allowance of nonrefundable personal tax credits to provide that the aggregate amount of such credits shall not exceed the sum of: (1) the taxpayer's regular tax liability for the taxable year reduced by the foreign tax credit; and (2) the alternative minimum tax.
(Sec. 6) States that the amendments made by this Act shall not be taken into account under IRC provisions relating to failure to pay estimated tax in determining the amount of any installment required to be paid before October 1, 2000.
(Sec. 7) Sets forth "Budget Act" compliance provisions (sunset provisions).
[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4810 Introduced in House (IH)]
106th CONGRESS
2d Session
H. R. 4810
To provide for reconciliation pursuant to section 103(a)(1) of the
concurrent resolution on the budget for fiscal year 2001.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
July 10, 2000
Mr. Archer introduced the following bill; which was referred to the
Committee on Ways and Means
_______________________________________________________________________
A BILL
To provide for reconciliation pursuant to section 103(a)(1) of the
concurrent resolution on the budget for fiscal year 2001.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE, ETC.
(a) Short Title.--This Act may be cited as the ``Marriage Tax
Penalty Relief Reconciliation Act of 2000''.
(b) Section 15 Not To Apply.--No amendment made by this Act shall
be treated as a change in a rate of tax for purposes of section 15 of
the Internal Revenue Code of 1986.
SEC. 2. ELIMINATION OF MARRIAGE PENALTY IN STANDARD DEDUCTION.
(a) In General.--Paragraph (2) of section 63(c) of the Internal
Revenue Code of 1986 (relating to standard deduction) is amended--
(1) by striking ``$5,000'' in subparagraph (A) and
inserting ``200 percent of the dollar amount in effect under
subparagraph (C) for the taxable year'',
(2) by adding ``or'' at the end of subparagraph (B),
(3) by striking ``in the case of'' and all that follows in
subparagraph (C) and inserting ``in any other case.'', and
(4) by striking subparagraph (D).
(b) Technical Amendments.--
(1) Subparagraph (B) of section 1(f)(6) of such Code is
amended by striking ``(other than with'' and all that follows
through ``shall be applied'' and inserting ``(other than with
respect to sections 63(c)(4) and 151(d)(4)(A)) shall be
applied''.
(2) Paragraph (4) of section 63(c) of such Code is amended
by adding at the end the following flush sentence:
``The preceding sentence shall not apply to the amount referred
to in paragraph (2)(A).''.
(c) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2000.
SEC. 3. PHASEOUT OF MARRIAGE PENALTY IN 15-PERCENT BRACKET; REPEAL OF
REDUCTION OF REFUNDABLE TAX CREDITS.
(a) In General.--Subsection (f) of section 1 of the Internal
Revenue Code of 1986 (relating to adjustments in tax tables so that
inflation will not result in tax increases) is amended by adding at the
end the following new paragraph:
``(8) Phaseout of marriage penalty in 15-percent bracket.--
``(A) In general.--With respect to taxable years
beginning after December 31, 2002, in prescribing the
tables under paragraph (1)--
``(i) the maximum taxable income in the
lowest rate bracket in the table contained in
subsection (a) (and the minimum taxable income
in the next higher taxable income bracket in
such table) shall be the applicable percentage
of the maximum taxable income in the lowest
rate bracket in the table contained in
subsection (c) (after any other adjustment
under this subsection), and
``(ii) the comparable taxable income
amounts in the table contained in subsection
(d) shall be \1/2\ of the amounts determined
under clause (i).
``(B) Applicable percentage.--For purposes of
subparagraph (A), the applicable percentage shall be
determined in accordance with the following table:
``For taxable years beginning
The applicable
in calendar year--
percentage is--
2003................................... 170.3
2004................................... 173.8
2005................................... 183.5
2006................................... 184.3
2007................................... 187.9
2008 and thereafter.................... 200.0.
``(C) Rounding.--If any amount determined under
subparagraph (A)(i) is not a multiple of $50, such
amount shall be rounded to the next lowest multiple of
$50.''.
(b) Repeal of Reduction of Refundable Tax Credits.--
(1) Subsection (d) of section 24 of such Code is amended by
striking paragraph (2) and redesignating paragraph (3) as
paragraph (2).
(2) Section 32 of such Code is amended by striking
subsection (h).
(c) Technical Amendments.--
(1) Subparagraph (A) of section 1(f)(2) of such Code is
amended by inserting ``except as provided in paragraph (8),''
before ``by increasing''.
(2) The heading for subsection (f) of section 1 of such
Code is amended by inserting ``Phaseout of Marriage Penalty in
15-Percent Bracket;'' before ``Adjustments''.
(d) Effective Dates.--
(1) In general.--Except as provided by paragraph (2), the
amendments made by this section shall apply to taxable years
beginning after December 31, 2002.
(2) Repeal of reduction of refundable tax credits.--The
amendments made by subsection (b) shall apply to taxable years
beginning after December 31, 2001.
SEC. 4. MARRIAGE PENALTY RELIEF FOR EARNED INCOME CREDIT.
(a) In General.--Paragraph (2) of section 32(b) of the Internal
Revenue Code of 1986 (relating to percentages and amounts) is amended--
(1) by striking ``Amounts.--The earned'' and inserting
``Amounts.--
``(A) In general.--Subject to subparagraph (B), the
earned'', and
(2) by adding at the end the following new subparagraph:
``(B) Joint returns.--In the case of a joint
return, the phaseout amount determined under
subparagraph (A) shall be increased by $2,000.''.
(b) Inflation Adjustment.--Paragraph (1)(B) of section 32(j) of
such Code (relating to inflation adjustments) is amended to read as
follows:
``(B) the cost-of-living adjustment determined
under section 1(f)(3) for the calendar year in which
the taxable year begins, determined--
``(i) in the case of amounts in subsections
(b)(2)(A) and (i)(1), by substituting `calendar
year 1995' for `calendar year 1992' in
subparagraph (B) thereof, and
``(ii) in the case of the $2,000 amount in
subsection (b)(2)(B), by substituting `calendar
year 2000' for `calendar year 1992' in
subparagraph (B) of such section 1.''.
(c) Rounding.--Section 32(j)(2)(A) of such Code (relating to
rounding) is amended by striking ``subsection (b)(2)'' and inserting
``subsection (b)(2)(A) (after being increased under subparagraph (B)
thereof)''.
(d) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2000.
<all>
Conference report considered in Senate. (consideration: CR S7379-7382)
Conference report considered in Senate. (consideration: CR S7409-7416)
Conference report agreed to in Senate: Senate agreed to conference report by Yea-Nay Vote. 60 - 34. Record Vote Number: 226.
Roll Call #226 (Senate)Senate agreed to conference report by Yea-Nay Vote. 60 - 34. Record Vote Number: 226.
Roll Call #226 (Senate)Message on Senate action sent to the House.
Presented to President.
Presented to President.
Vetoed by President.
Vetoed by President.
The Chair laid before the House the veto message from the President. (consideration: CR H7239-7240; text of Veto message: CR H7239-7240)
Mr. Archer moved to refer the bill and accompanying veto message to the Committee on Ways and Means.
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On motion to refer the bill and the accompanying veto message to the Committee on Ways and Means. Agreed to without objection.
Mr. Archer moved to discharge the Committee on Ways and Means from further consideration of the veto message from the President.
On motion to discharge the Committee on Ways and Means from further consideration of the veto message from the President. Agreed to without objection.
Committee discharged.
DEBATE - The House proceeded with one hour of debate on the veto override on H.R. 4810.
Failed of passage in House over veto: On passage, the objections of the President to the contrary notwithstanding Failed by the Yeas and Nays: (2/3 required): 270 - 158 (Roll no. 466).(consideration: CR H7509-7520)
Roll Call #466 (House)Motion to refer the bill and accompanying veto message to the Committee on Ways and Means.
On passage, the objections of the President to the contrary notwithstanding Failed by the Yeas and Nays: (2/3 required): 270 - 158 (Roll no. 466). (consideration: CR H7509-7520)
Roll Call #466 (House)On motion to refer the bill and the accompanying veto message to the Committee on Ways and Means. Agreed to without objection.