A bill to amend the Internal Revenue Code of 1954 to provide that individual income tax rates not be adjusted to reflect increases in the Consumer Price Index.

openUnited States· United States Congress· EN

Introduced

3 January 1985

Last action

—

Status

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

Summary

Amends the Internal Revenue Code to repeal provisions requiring cost of living adjustments in the income tax rates. (Current law requires such adjustments annually beginning in 1985.) Sets the zero bracket amount at $3,400 for joint returns and surviving spouses, $2,300 for individuals, and $1,700 for married individuals filing separate returns. Eliminates the cost of living adjustment to the $1,000 personal tax exemption. Makes conforming changes in the minimum requirements for the filing of income tax returns.

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Versions

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Documents

1 official file

Introduced in Senate
summary · EN · 3 January 1985
Open at official source

Related records

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Sources

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Official source: https://www.congress.gov/bill/99th-congress/senate-bill/93
Open data entity: https://api.congress.gov/v3/bill/99/s/93