American Values Tax Savings Plan for the 21st Century

Summary

American Values Tax Savings Plan for the 21st Century - Title I: Marriage Penalty Relief - Amends the Internal Revenue Code to provide that the standard deduction for married individuals shall be twice the deduction for unmarried individuals. Eliminates the marriage penalty in individual income tax rates. Title II: Phaseout of Estate and Gift Taxes - Provides for the phaseout of the estate and gift taxes. Title III: Phaseout of Alternative Minimum Tax for All Taxpayers - Provides for the phaseout of the alternative minimum tax. Title IV: Reduction in Individual Capital Gain Tax Rates - Reduces individual capital gain tax rates. Title V: Increased Incentives for Retirement Savings - Increases and indexes the IRA contribution limit. Increases the income limitation applicable to conversions. Title VI: Incentives for Health Insurance Coverage - Provides for the deduction of 100 percent of the health insurance costs of the self-employed. Permits the carryover of unused benefits from cafeteria and flexible spending arrangements. Title VII: Incentives for Education - Excludes from gross income education distributions from qualified State tuition plans. Expands such plans to include eligible educational institutions. Title VIII: Repeal of Telephone Excise Tax - Provides for the phaseout of the telephone excise tax. Expresses the sense of the Congress that the Federal Communications Commission E-rate discount program for schools and libraries should be terminated. Title IX: Extension of Expiring Provisions - Provides extensions for the: (1) credit for increasing research activities; (2) work opportunity credit; and (3) subpart F exemption for active income financing. Title X: Pay-Go Reform - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to set forth pay-as-you-go provisions.

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Timeline

1. 24 June 1999

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 24 June 1999

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

3. 24 June 1999

   Introduced

   Introduced in House

   Source: IntroReferral

4. 24 June 1999

   Introduced

   Introduced in House

   Source: IntroReferral

5. 18 July 2000

   Introduced

   Sponsor introductory remarks on measure. (CR H6369)

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 24 June 1999 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 24 June 1999

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 24 June 1999

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 24 June 1999

  Open at official source

Sponsors

• SAM JOHNSON · R · Sponsor
• Rep. McIntosh, David M. [R-IN-2] · R · Sponsor
• Rep. Doolittle, John T. [R-CA-4] · R · Sponsor
• Rep. Istook, Ernest J., Jr. [R-OK-5] · R · Sponsor
• Rep. Burton, Dan [R-IN-6] · R · Sponsor
• Rep. Hilleary, Van [R-TN-4] · R · Sponsor
• Rep. Hostettler, John N. [R-IN-8] · R · Sponsor
• Rep. Chenoweth-Hage, Helen [R-ID-1] · R · Sponsor
• Sen. Graham, Lindsey [R-SC] · R · Sponsor
• Rep. Bartlett, Roscoe G. [R-MD-6] · R · Sponsor
• Rep. Tancredo, Thomas G. [R-CO-6] · R · Sponsor
• Rep. Pitts, Joseph R. [R-PA-16] · R · Sponsor
• Rep. Dickey, Jay [R-AR-4] · R · Sponsor
• WALTER JONES · R · Sponsor
• Sen. Sununu, John E. [R-NH] · R · Sponsor
• Rep. Hansen, James V. [R-UT-1] · R · Sponsor
• Rep. Souder, Mark E. [R-IN-3] · R · Sponsor
• Rep. Weldon, Dave [R-FL-15] · R · Sponsor
• STEVE CHABOT · R · Sponsor
• Rep. Cubin, Barbara [R-WY-At Large] · R · Sponsor
• Sen. DeMint, Jim [R-SC] · R · Sponsor
• Rep. Herger, Wally [R-CA-2] · R · Sponsor
• Rep. McInnis, Scott [R-CO-3] · R · Sponsor
• Rep. Watkins, Wes [D-OK-3] · R · Sponsor
• Rep. Hulshof, Kenny C. [R-MO-9] · R · Sponsor
• Rep. Hayworth, J. D. [R-AZ-5] · R · Sponsor
• Rep. DeLay, Tom [R-TX-22] · R · Sponsor
• Rep. Paul, Ron [R-TX-22] · R · Sponsor
• Rep. Manzullo, Donald A. [R-IL-16] · R · Sponsor
• Rep. Myrick, Sue Wilkins [R-NC-9] · R · Sponsor
• Rep. Skeen, Joe [R-NM-2] · R · Sponsor
• Rep. Bilirakis, Michael [R-FL-9] · R · Sponsor
• Rep. Hefley, Joel [R-CO-5] · R · Sponsor
• DANA ROHRABACHER · R · Sponsor
• Rep. Miller, Dan [R-FL-13] · R · Sponsor
• WILLIAM THORNBERRY · R · Sponsor
• Rep. Bonilla, Henry [R-TX-23] · R · Sponsor
• Sen. Coburn, Tom [R-OK] · R · Sponsor
• Rep. Pombo, Richard W. [R-CA-11] · R · Sponsor
• Sen. Isakson, Johnny [R-GA] · R · Sponsor
• Pete Sessions · R · Sponsor
• Rep. Pickering, Charles W. "Chip" [R-MS-3] · R · Sponsor
• Rep. Ryun, Jim [R-KS-2] · R · Sponsor
• Rep. Green, Mark [R-WI-8] · R · Sponsor
• Rep. Riley, Bob [R-AL-3] · R · Sponsor
• Rep. Shadegg, John B. [R-AZ-3] · R · Sponsor
• PAUL RYAN · R · Sponsor
• Rep. Dreier, David [R-CA-33] · R · Sponsor

Showing 48 of 60 sponsors and actors.

Related records

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