Marriage Tax Relief Reconciliation Act of 2000

Summary

Marriage Tax Relief Reconciliation Act of 2000 - States that no amendment made by this Act shall be treated as a tax rate change for purposes of section 15 (effect of changes on tax rates) of the Internal Revenue Code. (Sec. 2) Amends the Internal Revenue Code to provide that the basic standard deduction for a married couple filing jointly shall be twice the basic standard deduction for an unmarried individual, beginning in 2001. (Sec. 3) Provides that the 15 and 28 percent regular income tax bracket for a married couple filing jointly shall be twice the size of the corresponding bracket for an unmarried individual. Sets forth a graduated phase-in beginning in 2002 and fully effective in 2007. (Sec. 4) Increases the beginning point of the phase-out range of the earned income credit for married couples filing jointly by $2,500, beginning in 2001. (Sec. 5) Revises provisions concerning the allowance of nonrefundable personal tax credits to provide that the aggregate amount of such credits shall not exceed the sum of: (1) the taxpayer's regular tax liability for the taxable year reduced by the foreign tax credit; and (2) the alternative minimum tax. (Sec. 6) Sets forth "Budget Act" compliance provisions (sunset provisions).

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3 official files

• Reported to Senate (text)

  Reported to Senate · EN · 5 July 2000

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• Reported to Senate (PDF)

  Reported to Senate · EN · 5 July 2000

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• Introduced in Senate

  summary · EN · 5 July 2000

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