Economic Growth and Tax Relief Reconciliation Act of 2001

Summary

Economic Growth and Tax Relief Reconciliation Act of 2001 - States that tax rate revisions made by this Act shall not be treated as a tax rate change for purposes of applying the pre-and post-change tax rates under section 15 of the Internal Revenue Code. (Such provision would otherwise apply two tax rates to income in the same tax year, depending upon effective date.) Amends the Code, as of tax year 2001, to establish (in addition to existing brackets) a 12 percent individual tax bracket for each filing status. Caps taxable income levels for the 12 percent bracket at: (1) $12,000 for married individuals filing jointly; (2) $10,000 for heads of households; and (3) $6,000 for unmarried individuals or married individuals filing separately. Applies the current 15 percent bracket to income levels above the 12 percent caps but below current 15 percent caps. Prohibits minimum bracket amount inflation adjustments through tax year 2006. Revises the cost-of-living adjustment formula, as of tax year 2007. Provides, beginning in tax year 2002, for specified reductions in the 12, (maintaining the revised 15 percent bracket without further change), 28, 31, 36, and 39.6 percent individual (and estate) brackets, so that as of 2006 and thereafter, there shall be four tax brackets of 10, 15, 25, and 33 percent. Repeals mandatory reductions in the additional (three or more children) child tax credit and the earned income credit for taxpayers subject to the alternative minimum tax. Revises current tax rates in conformity with the amendments made by this Act respecting: (1) accumulated corporate earnings; (2) personal holding companies; (3) voluntary withholding on certain Federal payments, unemployment benefits, gambling winnings, and Indian casino profits; (3) backup withholding; and (4) supplemental wage payments. States that amounts transferred to any Social Security Act trust fund shall be determined as if this Act had not been enacted.

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

Timeline

1. 15 May 2001

   Reported

   Rules Committee Resolution H. Res. 142 Reported to House. Rule provides for consideration of H.R. 1836 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Waives points of order against consideration. A specified amendment is in order. Provides for consideration of the amendment in the nature of a substitute printed in H. Rept. 107-68, if offered by Representative Rangel or his designee, which shall be considered as read and separately debatable for one hour, equally divided and controlled. Rule further provides that upon receipt of a message from the Senate transmitting H.R. 1836 with Senate amendments thereto, it shall be in order to consider in the House a motion offered by the Chairman of the Committee on Ways and Means or his designee that the House disagree to the Senate amendments and request or agree to a conference with the Senate thereon.

   Source: Floor

2. 15 May 2001

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

3. 15 May 2001

   Introduced

   Introduced in House

   Source: IntroReferral

4. 15 May 2001

   Introduced

   Introduced in House

   Source: IntroReferral

5. 16 May 2001

   Passed

   Rule H. Res. 142 passed House.

   Source: Floor

6. 16 May 2001

   Introduced

   Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 44.

   Source: Calendars

7. 16 May 2001

   Passed

   Motion to reconsider laid on the table Agreed to without objection.

   Source: Floor

8. 16 May 2001

   Vote

   On passage Passed by the Yeas and Nays: 230 - 197 (Roll no. 118).

   Source: Floor

9. 16 May 2001

   Vote

   Passed/agreed to in House: On passage Passed by the Yeas and Nays: 230 - 197 (Roll no. 118).

   Source: Floor

10. 16 May 2001

    Floor

    The previous question was ordered on the bill and the amendment.

    Source: Floor

11. 16 May 2001

    Floor

    Rule provides for consideration of H.R. 1836 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Waives points of order against consideration. A specified amendment is in order. Provides for consideration of the amendment in the nature of a substitute printed in H. Rept. 107-68, if offered by Representative Rangel or his designee, which shall be considered as read and separately debatable for one hour, equally divided and controlled. Rule further provides that upon receipt of a message from the Senate transmitting H.R. 1836 with Senate amendments thereto, it shall be in order to consider in the House a motion offered by the Chairman of the Committee on Ways and Means or his designee that the House disagree to the Senate amendments and request or agree to a conference with the Senate thereon.

    Source: Floor

12. 16 May 2001

    Reported

    Considered under the provisions of rule H. Res. 142. (consideration: CR H2207-2223; text of measure as reported in House: CR H2207-2208)

    Source: Floor

13. 17 May 2001

    Floor

    Measure laid before Senate by unanimous consent. (consideration: CR S5028-5100)

    Source: Floor

14. 21 May 2001

    Floor

    Considered by Senate. (consideration: CR S5185-5260)

    Source: Floor

15. 22 May 2001

    Floor

    Considered by Senate. (consideration: CR S5405-5428)

    Source: Floor

16. 23 May 2001

    Passed

    On motion that the House disagree to the Senate amendment, and agree to a conference Agreed to by voice vote.

    Source: ResolvingDifferences

17. 23 May 2001

    ResolvingDifferences

    The previous question was ordered without objection.

    Source: ResolvingDifferences

18. 23 May 2001

    ResolvingDifferences

    The Speaker appointed conferees: Thomas, Armey, and Rangel.

    Source: ResolvingDifferences

19. 23 May 2001

    Passed

    Motion to reconsider laid on the table Agreed to without objection.

    Source: ResolvingDifferences

20. 23 May 2001

    Floor

    RESERVATION OF OBJECTION - Mr. McDermott reserved the right to object and under his reservation proceeded with remarks and also yielded time.

    Source: Floor

21. 23 May 2001

    ResolvingDifferences

    Mr. Thomas moved that the House disagree to the Senate amendment, and agree to a conference.

    Source: ResolvingDifferences

22. 23 May 2001

    ResolvingDifferences

    Mr. Thomas asked unanimous consent that the House disagree to the Senate amendment, and agree to a conference.

    Source: ResolvingDifferences

23. 23 May 2001

    ResolvingDifferences

    Senate insists on its amendment, asks for a conference, appoints conferees Grassley, Hatch, Murkowski, Nickles, Gramm, Baucus, Rockefeller, Daschle and Breaux.

    Source: ResolvingDifferences

24. 23 May 2001

    Vote

    Passed/agreed to in Senate: Passed Senate with an amendment by Yea-Nay. 62 - 38. Record Vote Number: 165.(text: CR 5/25/2001 S5714-5753)

    Source: Floor

25. 23 May 2001

    Floor

    Considered by Senate. (consideration: CR S5490-5522)

    Source: Floor

26. 26 May 2001

    ResolvingDifferences

    Conference papers: Senate report and manager's statement and message on House action held at the desk in Senate.

    Source: ResolvingDifferences

27. 26 May 2001

    Vote

    Conference report agreed to in Senate: Senate agreed to conference report by Yea-Nay Vote. 58 - 33. Record Vote Number: 170.

    Source: ResolvingDifferences

28. 26 May 2001

    Passed

    Conference committee actions: Conferees agreed to file conference report.

    Source: ResolvingDifferences

29. 26 May 2001

    Vote

    On agreeing to the conference report Agreed to by the Yeas and Nays: 240 - 154 (Roll no. 149).

    Source: ResolvingDifferences

30. 26 May 2001

    Passed

    Motions to reconsider laid on the table Agreed to without objection.

    Source: ResolvingDifferences

31. 26 May 2001

    Vote

    Conference report agreed to in House: On agreeing to the conference report Agreed to by the Yeas and Nays: 240 - 154 (Roll no. 149).

    Source: ResolvingDifferences

32. 26 May 2001

    ResolvingDifferences

    The previous question was ordered pursuant to the rule.

    Source: ResolvingDifferences

33. 26 May 2001

    Passed

    Rule H. Res. 153 passed House.

    Source: Floor

34. 26 May 2001

    Floor

    DEBATE - The House proceeded with one hour of debate on the conference report to accompany H.R. 1836.

    Source: Floor

35. 26 May 2001

    ResolvingDifferences

    Mr. Thomas brought up conference report H. Rept. 107-84 for consideration under the provisions of H. Res. 153. (consideration: CR S5770-5796)

    Source: ResolvingDifferences

36. 26 May 2001

    Reported

    Rules Committee Resolution H. Res. 153 Reported to House. Rule provides for consideration of the conference report to H.R. 1836.

    Source: Floor

37. 26 May 2001

    ResolvingDifferences

    Conference report H. Rept. 107-84 filed. (text of conference report: CR 5/25/2001 H2726-2824)

    Source: ResolvingDifferences

38. 26 May 2001

    ResolvingDifferences

    Conference report filed: Conference report H. Rept. 107-84 filed.(text of conference report: CR 5/25/2001 H2726-2824)

    Source: ResolvingDifferences

39. 31 May 2001

    Floor

    Message on Senate action sent to the House.

    Source: Floor

40. 4 June 2001

    Floor

    Presented to President.

    Source: Floor

41. 4 June 2001

    President

    Presented to President.

    Source: President

42. 7 June 2001

    Became law

    Became Public Law No: 107-16.

    Source: President

43. 7 June 2001

    Became law

    Signed by President.

    Source: BecameLaw

44. 7 June 2001

    President

    Signed by President.

    Source: President

Votes

Versions

• Enrolled Bill · undated · Official file
• Public Law · 7 June 2001 · Official file
• Engrossed Amendment Senate · 25 May 2001 · Official file
• Placed on Calendar Senate · 16 May 2001 · Official file
• Engrossed in House · 16 May 2001 · Official file
• Introduced in House · 15 May 2001 · Official file

Documents

15 official files

• Enrolled Bill (text)

  Enrolled Bill · EN

  ViewDownloadOpen at official source

• Enrolled Bill (PDF)

  Enrolled Bill · EN

  ViewDownloadOpen at official source

• Public Law (text)

  Public Law · EN · 7 June 2001

  ViewDownloadOpen at official source

• Public Law (PDF)

  Public Law · EN · 7 June 2001

  ViewDownloadOpen at official source

• Conference report filed in House

  summary · EN · 26 May 2001

  Open at official source

• Engrossed Amendment Senate (text)

  Engrossed Amendment Senate · EN · 25 May 2001

  ViewDownloadOpen at official source

• Engrossed Amendment Senate (PDF)

  Engrossed Amendment Senate · EN · 25 May 2001

  ViewDownloadOpen at official source

• Engrossed in House (text)

  Engrossed in House · EN · 16 May 2001

  ViewDownloadOpen at official source

• Engrossed in House (PDF)

  Engrossed in House · EN · 16 May 2001

  ViewDownloadOpen at official source

• Placed on Calendar Senate (text)

  Placed on Calendar Senate · EN · 16 May 2001

  ViewDownloadOpen at official source

• Placed on Calendar Senate (PDF)

  Placed on Calendar Senate · EN · 16 May 2001

  ViewDownloadOpen at official source

• Passed House without amendment

  summary · EN · 16 May 2001

  Open at official source

• Introduced in House (text)

  Introduced in House · EN · 15 May 2001

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 15 May 2001

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 15 May 2001

  Open at official source

Sponsors

• Rep. Thomas, William M. [R-CA-20] · R · Sponsor
• · hswm00 · Standing

Related records

• related to → Railroad Retirement and Survivors' Improvement Act of 2001
• related to → Economic Growth and Tax Relief Act of 2001
• related to → Marriage Penalty and Family Tax Relief Act of 2001
• related to → Death Tax Elimination Act of 2001
• related to → Estate Tax Relief Act of 2001
• related to → Death Tax Termination Act of 2001
• related to → To repeal the Federal estate and gift taxes.
• related to → To repeal the Federal estate and gift taxes.
• related to ← Comprehensive Retirement Security and Pension Reform Act of 2001
• related to ← Restoring Earnings to Lift Individuals and Empower Families (RELIEF) Act of 2001

Showing 10 of 43 related records.