Skip to main content
HR 1398 107th Congress House

Tax Reduction Act of 2001

Official title: To amend the Internal Revenue Code of 1986 to provide individual income tax rate reductions, tax relief to families with children, marriage penalty relief, and… Show full official titleShow less

Official title: To amend the Internal Revenue Code of 1986 to provide individual income tax rate reductions, tax relief to families with children, marriage penalty relief, and to immediately eliminate the estate tax for two-thirds of all decedents currently subject to the estate tax.

Introduced: May 3, 2001 See on congress.gov
Taxation Collection of accountsConservation easementsCost of living adjustmentsCustody of children
More subjectsShow fewer subjects
DividendsDivorceDivorceesEarned income tax creditEconomics and Public FinanceEnvironmental ProtectionEstate taxFamiliesFamily enterprisesFinance and Financial SectorGift taxGovernment Operations and PoliticsGovernment trust fundsHealthIncome tax
Sign in to write a letter Sign in to watch
This bill died when the 107th Congress ended
It never became law before the 107th Congress (2001–2002) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 13, 2001
See H.R.1836.
Apr 4, 2001
Referred to the House Committee on Ways and Means.
Apr 4, 2001
Introduced in House
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Latest action August 13, 2001

See H.R.1836.

 Plain-English summary Congressional Research Service
Tax Reduction Act of 2001 - Amends the Internal Revenue Code to: (1) revise the existing 15 percent individual tax rate into a 12 percent and 15 percent rate based upon specified income bracket amounts; (2) revise the alternative minimum tax computation; (3) eliminate the alternative minimum tax-based reductions for the earned income and child tax credits; (4) revise the earned income tax credit with respect to credit percentages and amounts, includible income, phaseouts, and the joint return requirement; and (5) revise the standard deduction for joint filers and surviving spouses to twice the amount for an unmarried single filer.

Revises estate tax provisions to: (1) increase the exemption equivalent of the unified credit; (2) repeal family-owned business interests deduction provisions; (3) repeal provisions providing for a credit for State death taxes and provide for the deduction from an estate's value of State death taxes paid; and (4) set forth valuation rules for certain transfers of nonbusiness assets, and eliminate location requirements with respect to land subject to a qualified conservation easement for gross estate determination purposes.

 Related & companion bills 1
  • HR 1836 Procedurally related Economic Growth and Tax Relief Reconciliation Act of 2001
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 4
All 4 Democratic 4
D
Meeks, Gregory W.
New York · May 15, 2001
 D
McGovern, James P.
Massachusetts · May 3, 2001
 D
DeLauro, Rosa L.
Connecticut · May 1, 2001
 D
Sherman, Brad
California · May 1, 2001
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1398: Tax Reduction Act of 2001. 107th Congress. Open America. https://openamerica.io/bill/107-HR-1398/
MLA
"H.R. 1398: Tax Reduction Act of 2001." 107th Congress, 2026, Open America, https://openamerica.io/bill/107-HR-1398/.
Bluebook (legal)
H.R. 1398, 107th Cong. (2026), https://openamerica.io/bill/107-HR-1398/.
Markdown link
[H.R. 1398: Tax Reduction Act of 2001](https://openamerica.io/bill/107-HR-1398/)
Report a problem