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HR 3704 107th Congress House

Consumer Credit Card Compensation and Economic Incentive Act of 2002

Official title: To amend the Internal Revenue Code of 1986 to allow a deduction to individuals for credit card interest.

Introduced: February 7, 2002 Introduced by: Meeks, Gregory W. Democratic · New York See on congress.gov
Taxation CommerceConsumer creditCredit cardsFinance and Financial Sector
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Income taxInterestPersonal income taxTax deductions
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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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 7, 2002
Referred to the House Committee on Ways and Means.
Feb 7, 2002
Introduced in House
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 Latest action February 7, 2002

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service
Consumer Credit Card Compensation and Economic Incentive Act of 2002 - Amends the Internal Revenue Code to allow an individual, from January 1, 2002 through December 31, 2006, to deduct up to $5,000 annually for credit card interest.
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Davis, Danny K.
Illinois · May 8, 2002
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3704: Consumer Credit Card Compensation and Economic Incentive Act of 2002. 107th Congress. Open America. https://openamerica.io/bill/107-HR-3704/
MLA
"H.R. 3704: Consumer Credit Card Compensation and Economic Incentive Act of 2002." 107th Congress, 2026, Open America, https://openamerica.io/bill/107-HR-3704/.
Bluebook (legal)
H.R. 3704, 107th Cong. (2026), https://openamerica.io/bill/107-HR-3704/.
Markdown link
[H.R. 3704: Consumer Credit Card Compensation and Economic Incentive Act of 2002](https://openamerica.io/bill/107-HR-3704/)
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