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HR 2842 114th Congress House Taxation Income tax rates Inflation and prices

Individual Rate Simplification Act of 2015

Introduced: June 18, 2015 Introduced by: Williams, Roger Republican · Texas 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
Jun 18, 2015
Referred to the House Committee on Ways and Means.
Jun 18, 2015
Introduced in House
 Plain-English summary Congressional Research Service

Individual Rate Simplification Act of 2015

This bill amends the Internal Revenue Code to revise individual income tax rates to establish a 20% rate on taxable income of $1 million or less and a 30% rate on taxable income over $1 million for taxable years beginning after December 31, 2015. The bill requires an annual inflation adjustment to the $1 million threshold amount in taxable years beginning after 2016.

What's happening now June 18, 2015

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1