Flat Rate Tax Act of 1982

Summary

Flat Rate Tax Act of 1982 - Amends the Internal Revenue Code to repeal the income tax tables. Provides for an income tax rate of ten percent for all individuals, estates, and trusts. Repeals all special tax deductions, credits, and exclusions from income for individuals. Amends the Economic Recovery Tax Act of 1981 to increase to $2,000 the deduction for personal exemptions.

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

Timeline

1. 15 March 1982

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 15 March 1982

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 17 March 1982

   Committee

   Committee on Finance requested executive comment from OMB; Treasury Department.

   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 Senate

  summary · EN · 15 March 1982

  Open at official source

Sponsors

• Sen. Helms, Jesse [R-NC] · R · Sponsor
• · ssfi00 · Standing

Related records

• related to → Flat Rate Tax Act of 1982