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Family Reinvestment and Shaping Our Future Act

Introduced: January 27, 1998 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 27, 1998
Referred to the House Committee on Ways and Means.
Jan 27, 1998
Introduced in House
 Plain-English summary Congressional Research Service

Family Reinvestment and Shaping Our Future Act - Amends the Internal Revenue Code to increase the standard deduction for joint returns and surviving spouses to twice the amount of such deduction available to single individuals who are not married, head of household, or a surviving spouse.

(Sec. 3) Excludes from gross income up to $200 ($400 joint return) of certain interest and domestic dividends. Sets forth related provisions with respect to: (1) regulated investment companies and real estate investment trusts; (2) trust distributions; and (3) nonresident aliens.

(Sec. 4) Allows a deduction for 100 percent of the health insurance costs of self-employed persons. (Current law provides for a phased-in increase from 40 percent in 1997 to 100 percent in 2007).

(Sec. 5) Allows eligible educational institutions to maintain qualified tuition programs.

What's happening now January 27, 1998

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Republican 2