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United States · Bill · S

S. 3047 (96th)

Tax Reduction Act of 1980

referredUnited States· United States Congress· EN

Introduced

20 August 1980

Last action

Status

Referred to Senate Committee on Finance.

Sponsors

Subjects

Discovery layer

Source updated

2 September 2025

Summary

Tax Reduction Act of 1980 - Amends the Internal Revenue Code to reduce the income tax rates for individuals, estates, and trusts for years beginning after December 31, 1980. Increases the zero bracket amount: (1) from $2,300 to $2,600 for a single individual; (2) from $3,400 to $3,900 for married individuals filing a joint return; and (3) from $1,700 to $1,950 for a married individual filing a separate return. Reduces the marriage penalty by allowing the spouse with the lower income to claim a ten percent deduction up to a maximum of $3,000.

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Documents

1 official file

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Sources

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