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S 1616 113th Congress Senate

Family Fairness and Opportunity Tax Reform Act

Official title: A bill to amend the Internal Revenue Code of 1986 to provide for simplification, to reduce the number of tax brackets, and for other purposes.

Introduced: October 30, 2013 Introduced by: Lee, Mike Republican · Utah See on congress.gov
Taxation Capital gains taxCharitable contributionsEmployment taxesHousing finance and home ownership
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Income tax creditsIncome tax deductionsIncome tax ratesInflation and pricesInterest, dividends, interest ratesMedicareSocial work, volunteer service, charitable organizationsTax reform and tax simplificationTax treatment of families
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This bill died when the 113th Congress ended
It never became law before the 113th Congress (2013–2014) 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
Oct 30, 2013
Read twice and referred to the Committee on Finance.
Oct 30, 2013
Introduced in Senate
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 Latest action October 30, 2013

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

Family Fairness and Opportunity Tax Reform Act - Amends the Internal Revenue Code, with respect to the taxation of individual and married taxpayers, to:

  • reduce to two the number of individual income tax brackets, imposing a 15% tax rate on income up to $87,850 ($175,700 for married couples filing a joint return and surviving spouses) and a 35% rate on income above such level;
  • eliminate or reduce the capital gains tax rate based on taxable income levels;
  • repeal after 2013 the alternative minimum tax (AMT) for individual and corporate taxpayers;
  • increase from $1,000 to $2,500 the child tax credit and make a portion of such credit refundable;
  • allow a new personal income tax credit of $2,000 for individual taxpayers ($4,000 for married couples filing a joint return and surviving spouses) in lieu of the standard tax deduction, the personal tax exemption, and certain itemized deductions, other than the deductions for mortgage interest and charitable contributions;
  • provide annual inflation adjustments after 2013 to income levels and credit amounts in this Act;
  • make mortgage interest and charitable contributions deductible from gross income (above-the-line deductions);
  • limit to $300,000 the deductible amount of acquisition indebtedness for principal residences (currently, $1 million);
  • repeal the additional hospital insurance tax on individual taxpayers earning over $200,000 ($250,000 for married couples filing joint tax returns); and
  • repeal the 3.8% Medicare tax on certain unearned income (e.g., income from rents, royalties, stocks, bonds, and other investments).
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 1616: Family Fairness and Opportunity Tax Reform Act. 113th Congress. Open America. https://openamerica.io/bill/113-S-1616/
MLA
"S. 1616: Family Fairness and Opportunity Tax Reform Act." 113th Congress, 2026, Open America, https://openamerica.io/bill/113-S-1616/.
Bluebook (legal)
S. 1616, 113th Cong. (2026), https://openamerica.io/bill/113-S-1616/.
Markdown link
[S. 1616: Family Fairness and Opportunity Tax Reform Act](https://openamerica.io/bill/113-S-1616/)
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