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HR 3730 102th Congress House Taxation Budget deficits Federal budgets Federal receipts and expenditures Income tax Millionaires Minimum tax Off-budget expenditures Social security taxes Tax credits Tax rates Wealth tax

Middle Class Tax Relief and Fairness Act of 1992

Introduced: November 7, 1991 See on congress.gov
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 Everywhere this bill has been 7 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 12, 1992
See H.R.4210.
Dec 18, 1991
Committee Hearings Held.
Dec 17, 1991
Committee Hearings Held.
Dec 6, 1991
Committee Hearings Held.
Dec 5, 1991
Committee Hearings Held.
Nov 7, 1991
Referred to the House Committee on Ways and Means.
Nov 7, 1991
Introduced in House
 Plain-English summary Congressional Research Service

Middle Class Tax Relief and Fairness Act of 1992 - Title I: Credit for Portion of Social Security Taxes - Amends the Internal Revenue Code to allow a credit for 20 percent of a taxpayer's social security taxes, limited to $200 ($400 in the case of a joint return) and applicable to years beginning after December 31, 1991, and before January 1, 1994.

Title II: Revenue Increases - Subtitle A: Increase in Top Marginal Individual Income Tax Rates - Lowers the tax rates for certain taxpayers and increases the tax rate for certain higher incomes. Increases the tentative minimum tax for taxpayers other than corporations.

Subtitle B: Surtax on Individuals With Incomes Over $1,000,000 - Imposes a surtax on incomes in excess of $1,000,000, including estates and trusts.

Title III: Budget Provisions - Provides that any change in outlays or receipts resulting from this Act shall not be considered for any purpose under the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act).

What's happening now February 12, 1992

See H.R.4210.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1