HR 4053
105th Congress
House
Taxation
Cost of living adjustments
Economics and Public Finance
Income tax
Indexing (Economic policy)
Personal income tax
Tax deductions
Tax exemption
Tax rates
To amend the Internal Revenue Code of 1986 to simplify the individual income tax by repealing the adjusted gross income limitations on itemized deductions and the personal exemption deduction, and for other purposes.
Introduced: June 11, 1998
Introduced by:
Neal, Richard E.
Democratic
· Massachusetts
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 11, 1998
Referred to the House Committee on Ways and Means.
Jun 11, 1998
Sponsor introductory remarks on measure. (CR E1120)
Jun 11, 1998
Introduced in House
Plain-English summary
Amends the Internal Revenue Code to repeal: (1) the overall limitation on itemized deductions; and (2) the phaseout of personal exemptions.
Increases, by 1.59 percent, an individual's taxes if the individual's adjusted gross income exceeds $75,000 (twice such amount on a joint return).
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1