Tax Rate Reduction Act of 1981

Summary

Tax Rate Reduction Act of 1981 - Title I: Individual Tax Rates - Amends the Internal Revenue Code to reduce individual income tax rates for calendar years 1982 through 1986 and permanently thereafter. Title II: Inflation Adjustments for Taxable Years Beginning After 1986 - Requires annual cost of living adjustments to income levels in each income tax bracket, beginning in calendar year 1986. Requires similar cost of living adjustments to the $1,000 personal tax exemption. Increases the minimum income levels at which a taxpayer is required to file an income tax return by providing that such levels shall be equal to the taxpayer's income tax exemption and zero bracket amount, adjusted for inflation.

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

Timeline

1. 28 April 1981

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 28 April 1981

   Introduced

   Introduced in House

   Source: IntroReferral

3. 28 April 1981

   Introduced

   Introduced in House

   Source: IntroReferral

4. 4 August 1981

   Committee

   See H.R.4242.

   Source: Committee

Votes

No vote records are attached yet.

Versions

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

Documents

1 official file

• Introduced in House

  summary · EN · 28 April 1981

  Open at official source

Sponsors

• Rep. Pursell, Carl D. [R-MI-2] · R · Sponsor
• Rep. Kramer, Ken [R-CO-5] · R · Sponsor
• Rep. Hollenbeck, Harold C. [R-NJ-9] · R · Sponsor
• Sen. Brown, Hank [R-CO] · R · Sponsor
• Rep. Winn, Larry, Jr. [R-KS-3] · R · Sponsor
• Rep. Corcoran, Tom [R-IL-14] · R · Sponsor
• Rep. Kindness, Thomas N. [R-OH-8] · R · Sponsor
• Rep. Coughlin, Lawrence [R-PA-13] · R · Sponsor
• Rep. Benedict, Cleve [R-WV-2] · R · Sponsor
• Rep. Goldwater, Barry, Jr. [R-CA-20] · R · Sponsor
• Rep. Davis, Robert W. [R-MI-11] · R · Sponsor
• Rep. Daub, Hal [R-NE-2] · R · Sponsor
• Rep. Barnard, Doug, Jr. [D-GA-10] · D · Sponsor
• Rep. Coyne, James K. [R-PA-8] · R · Sponsor
• Rep. Hansen, George V. [R-ID-2] · R · Sponsor
• Rep. Johnston, Eugene (Gene) [R-NC-6] · R · Sponsor
• Rep. Marriott, David Daniel [R-UT-2] · R · Sponsor
• Rep. Pritchard, Joel [R-WA-1] · R · Sponsor
• Rep. Robinson, J. Kenneth [R-VA-7] · R · Sponsor
• · hswm00 · Standing

Related records

• related to ← Economic Recovery Tax Act of 1981