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HR 1166 103th Congress House Taxation Corporation taxes Income tax Indexing (Economic policy) Minimum tax Tax deductions Tax exemption Tax rates Wealth tax

Middle Class Tax Relief Act of 1993

Introduced: March 2, 1993 Introduced by: DeLauro, Rosa L. Democratic · Connecticut See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 10, 1993
See H.R.2264.
Mar 2, 1993
Referred to the House Committee on Ways and Means.
Mar 2, 1993
Introduced in House
 Plain-English summary Congressional Research Service

TABLE OF CONTENTS:

Title I: Tax Relief for Middle-Income Taxpayers

Title II: Revenue Provisions

Middle Class Tax Relief Act of 1993 - Title I: Tax Relief for Middle-Income Taxpayers - Amends the Internal Revenue Code to provide an additional exemption amount ($1,000) to the regular personal exemption ($2,000) for middle-income taxpayers. Specifies the maximum gross income amounts for such taxpayers. Provides a formula for reducing the additional exemption amount for middle-income taxpayers whose incomes exceed certain transitional dollar amounts. Provides for inflation adjustments of amounts under this title.

Title II: Revenue Provisions - Increases the individual income tax rates for certain high-income taxpayers.

Imposes a surtax on the individual tax rate or the alternative minimum tax rate for individuals whose incomes exceed $225,000.

Increases the rates of corporate income tax and of alternative minimum tax.

What's happening now August 10, 1993

See H.R.2264.

 Committees of jurisdiction 1