To amend the Internal Revenue Code of 1986 to permanently extend the marriage penalty relief provided under the Economic Growth and Tax Relief Reconciliation Act of 2001.
About This Bill
Passed
Latest Action · May 3, 2004
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 495.
Amends the Internal Revenue Code to make permanent the following provisions of the Economic Growth and Tax Reconciliation Act of 2001: (1) the increased standard deduction for married taxpayers filing joint returns or for surviving spouses (twice the deduction for single taxpayers); (2) the increase in the taxable income level for qualifying married taxpayers filing joint returns or surviving spouses for the 15-percent tax bracket; and (3) provisions concerning the earned income tax credit, including those increasing the credit's phaseout amounts in the case of joint returns.
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