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United States · Bill · HR

H.R. 4053 (105th)

To amend the Internal Revenue Code of 1986 to simplify the individual income tax by repealing the adjusted gross income limitations on itemized deductions and the personal exemption deduction, and for other purposes.

referredUnited States· United States Congress· EN

Introduced

11 June 1998

Last action

Status

Referred to the House Committee on Ways and Means.

Sponsors

Subjects

Discovery layer

Source updated

2 January 2025

Summary

Amends the Internal Revenue Code to repeal: (1) the overall limitation on itemized deductions; and (2) the phaseout of personal exemptions. Increases, by 1.59 percent, an individual's taxes if the individual's adjusted gross income exceeds $75,000 (twice such amount on a joint return).

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Documents

3 official files

Introduced in House (text)

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