Individual Income Tax Rate Reduction Act of 1980

Summary

Individual Income Tax Rate Reduction Act of 1980 - Amends the Internal Revenue Code to reduce individual income tax rates for taxable years beginning after 1982. Sets the highest marginal income tax rate at 50 percent of taxable income. Phases in such tax reductions for 1981 and 1982. Increases the zero bracket amount (formerly the standard deduction) for each category of taxpayer. Increases the income levels at which a tax return is required to be filed. Reduces the rate of the alternative minimum tax.

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Timeline

1. 28 August 1980

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 28 August 1980

   Introduced

   Introduced in House

   Source: IntroReferral

3. 28 August 1980

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 28 August 1980

  Open at official source

Sponsors

• Rep. Foley, Thomas S. [D-WA-5] · D · Sponsor
• · hswm00 · Standing

Related records

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