To amend the Internal Revenue Code of 1986 to increase the amount of the exemption for dependent children under age 18 to $3,500, and for other purposes.

Summary

Title I: Increase in Personal Exemption for Certain Dependent Children - Amends the Internal Revenue Code to increase the personal exemption for a dependent child who has not attained age 18 from $2,000 to $3,500. Provides for rounding inflation adjustments to tax tables to the nearest multiple of $10 (currently rounded to the next lowest multiple of $50). Title II: Changes in Individual Income Tax Rate Structure - Increases the tax rates for higher income individuals. Imposes a surtax on the individual tax rate or the alternative minimum tax of an individual whose income exceeds $500,000. Applies such surtax to estates and trusts as well.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 31 July 1991

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.