Restoring Earnings to Lift Individuals and Empower Families (RELIEF) Act of 2001

Summary

Restoring Earnings To Lift Individuals and Empower Families (RELIEF) Act of 2001 - Amends the Internal Revenue Code to, among other things: (1) provide for lower income tax rates; (2) increase the income required before beginning the phase out of itemized deductions; (3) repeal the personal exemption phase out; (4) increase the child tax credit; (5) provide for the equalization of tax rates for those filing jointly and those filing singly (provides "marriage penalty" relief); (6) increase assistance to education through tax revisions such as increasing contributions allowed to education IRAs, excluding certain scholarship amounts from income, and providing special treatment for bonds used to finance educational facilities; (7) repeal the estate and generation skipping transfer taxes; (8) reduce the gift tax rate; (9) increase pension and IRA contribution limits and benefits; and (10) increase the alternative minimum tax exemption.

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Documents

4 official files

• Placed on Calendar Senate (text)

  Placed on Calendar Senate · EN · 16 May 2001

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• Placed on Calendar Senate (PDF)

  Placed on Calendar Senate · EN · 16 May 2001

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• Reported to Senate without amendment

  summary · EN · 16 May 2001

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• Introduced in Senate

  summary · EN · 16 May 2001

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