Middle Class Tax Relief Act of 1991

Summary

Middle Class Tax Relief Act of 1991 - Title I: Tax Relief for Middle-Income Taxpayers - Amends the Internal Revenue Code to provide an additional exemption amount ($1,000) to the regular personal exemption ($2,000) for middle-income taxpayers. Specifies the maximum gross income amounts for such taxpayers. Provides a formula for reducing the additional exemption amount for middle-income taxpayers whose incomes exceed certain transitional dollar amounts. Provides for inflation adjustments of amounts under this title. Title II: Revenue Provisions - Increases the individual income tax rates for certain higher-income taxpayers. Imposes a surtax on the individual tax rate or the alternative minimum tax rate for individuals whose incomes exceed $225,000. Increases the rate of corporate income tax and the alternative minimum tax.

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Documents

2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 2 August 1991

  Open at official source

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