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106th CONGRESS
2d Session
S. 2403
To amend the Internal Revenue Code of 1986 to reduce the marriage
penalty by providing a nonrefundable marriage credit and adjustment to
the earned income credit.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
April 12, 2000
Mr. Bayh (for himself, Mr. Durbin, Mr. Johnson, Mrs. Feinstein, Ms.
Landrieu, Mr. Edwards, and Mrs. Murray) introduced the following bill;
which was read twice and referred to the Committee on Finance
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to reduce the marriage
penalty by providing a nonrefundable marriage credit and adjustment to
the earned income credit.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE; AMENDMENT OF 1986 CODE.
(a) Short Title.--This Act may be cited as the ``Targeted Marriage
Tax Penalty Relief Act of 2000''.
(b) Amendment of 1986 Code.--Except as otherwise expressly
provided, whenever in this Act an amendment or repeal is expressed in
terms of an amendment to, or repeal of, a section or other provision,
the reference shall be considered to be made to a section or other
provision of the Internal Revenue Code of 1986.
(c) Section 15 Not To Apply.--No amendment made by section 2 shall
be treated as a change in a rate of tax for purposes of section 15 of
the Internal Revenue Code of 1986 .
SEC. 2. MARRIAGE CREDIT.
(a) In General.--Subpart A of part IV of subchapter A of chapter 1
(relating to nonrefundable personal credits) is amended by inserting
after section 25A the following new section:
``SEC. 25B. MARRIAGE CREDIT.
``(a) Allowance of Credit.--In the case of a joint return under
section 6013, there shall be allowed as a credit against the tax
imposed by this chapter for the taxable year an amount equal to the
lesser of the amount determined under subsection (b) or (c) for the
taxable year.
``(b) Amount Under Subsection (b).--For purposes of subsection (a),
the amount under this subsection for any taxable year with respect to a
taxpayer is determined in accordance with the following table:
``Taxable year: Amount:
2001.......................................... $500
2002.......................................... $900
2003.......................................... $1,300
2004 and thereafter........................... $1,700.
``(c) Determination of Amount.--
``(1) In general.--For purposes of subsection (a), the
amount determined under this subsection for any taxable year
with respect to a taxpayer is equal to the excess (if any) of--
``(A) the joint tentative tax of such taxpayer for
such year, over
``(B) the combined tentative tax of such taxpayer
for such year.
``(2) Joint tentative tax.--For purposes of paragraph
(1)(A)--
``(A) In general.--The joint tentative tax of a
taxpayer for any taxable year is equal to the tax
determined in accordance with the table contained in
section 1(a) on the joint tentative taxable income of
the taxpayer for such year.
``(B) Joint tentative taxable income.--For purposes
of subparagraph (A), the joint tentative taxable income
of a taxpayer for any taxable year is equal to the
excess of--
``(i) the earned income (as defined in
section 32(c)(2)), and any income received as a
pension or annuity which arises from an
employer-employee relationship (including any
social security benefit (as defined in section
86(d)(1)), of such taxpayer for such year, over
``(ii) the sum of--
``(I) either--
``(aa) the standard
deduction determined under
section 63(c)(2)(A)(i) for such
taxpayer for such year, or
``(bb) in the case of an
election under section 63(e),
the total itemized deductions
determined under section 63(d)
for such taxpayer for such
year, and
``(II) the total exemption amount
for such taxpayer for such year
determined under section 151.
``(3) Combined tentative tax.--For purposes of paragraph
(1)(A)--
``(A) In general.--The combined tentative tax of a
taxpayer for any taxable year is equal to the sum of
the taxes determined in accordance with the table
contained in section 1(c) on the individual tentative
taxable income of each spouse for such year.
``(B) Individual tentative taxable income.--For
purposes of subparagraph (A), the individual tentative
taxable income of a spouse for any taxable year is
equal to the excess of--
``(i) the earned income (as defined in
section 32(c)(2)), and any income received as a
pension or annuity which arises from an
employer-employee relationship (including any
social security benefit (as defined in section
86(d)(1)), of such spouse for such year, over
``(ii) the sum of--
``(I) either--
``(aa) the standard
deduction determined under
section 63(c)(2)(C) for such
spouse for such year, or
``(bb) in the case of an
election under section 63(e),
one-half of the total itemized
deductions determined under
paragraph (2)(B)(ii)(I)(bb) for
such spouse for such year, and
``(II) one-half of the total
exemption amount determined under
paragraph (2)(B)(ii)(II) for such year.
``(d) Phaseout of Credit.--
``(1) In general.--The amount which would (but for this
subsection) be taken into account under subsection (a) shall be
reduced (but not below zero) by the amount determined under
paragraph (2).
``(2) Amount of reduction.--The amount determined under
this paragraph is the amount which bears the same ratio to the
amount which would be so taken into account as--
``(A) the excess of--
``(i) the taxpayer's adjusted gross income
for such taxable year, over
``(ii) $120,000, bears to
``(B) $20,000.
``(e) Inflation Adjustment.--
``(1) In general.--In the case of any taxable year
beginning after 2004, the $1,700 amount referred to in
subsection (b) and the $120,000 amount referred to in
subsection (d)(2)(A)(ii) shall be increased by an amount equal
to--
``(A) such dollar amount, multiplied by
``(B) the cost-of-living adjustment determined
under section (1)(f)(3) for the calendar year in which
the taxable year begins, by substituting `2003' for
`1992'.
``(2) Rounding.--If the $1,700 amount (as so referred) and
the $120,000 amount (as so referred) as adjusted under
paragraph (1) is not a multiple of $25 and $50, respectively,
such amount shall be rounded to the nearest multiple of $25 and
$50, respectively.''.
(b) Conforming Amendment.--The table of sections for subpart A of
part IV of subchapter A of chapter 1 is amended by inserting after the
item relating to section 25A the following new item:
``Sec. 25B. Marriage credit.''
(c) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2000.
SEC. 3. MARRIAGE PENALTY RELIEF FOR EARNED INCOME CREDIT.
(a) In General.--Section 32(b) (relating to percentages and
amounts) is amended--
(1) by striking ``Percentages.--The credit'' in paragraph
(1) and inserting ``Percentages.--
``(A) In general.--Subject to subparagraph (B), the
credit'',
(2) by adding at the end of paragraph (1) the following new
subparagraph:
``(B) Joint returns.--In the case of a joint
return, the phaseout percentage determined under
subparagraph (A)--
``(i) in the case of an eligible individual
with 1 qualifying child shall be decreased by
1.87 percentage points, and
``(ii) in the case of an eligible
individual with 2 or more qualifying children
shall be decreased by 2.01 percentage
points.'',
(3) by striking ``amounts.--The earned'' in paragraph (2)
and inserting ``amounts.--
``(A) In general.--Subject to subparagraph (B), the
earned'', and
(4) by adding at the end the following new subparagraph:
``(B) Joint returns.--In the case of a joint
return, the phaseout amount determined under
subparagraph (A) shall be increased by $2,000.''.
(b) Inflation Adjustment.--Paragraph (1)(B) of section 32(j)
(relating to inflation adjustments) is amended to read as follows:
``(B) the cost-of-living adjustment determined
under section 1(f)(3) for the calendar year in which
the taxable year begins, determined--
``(i) in the case of amounts in subsections
(b)(2)(A) and (i)(1), by substituting `calendar
year 1995' for `calendar year 1992' in
subparagraph (B) thereof, and
``(ii) in the case of the $2,000 amount in
subsection (b)(2)(B), by substituting `calendar
year 2000' for `calendar year 1992' in
subparagraph (B) of such section 1.''.
(c) Rounding.--Section 32(j)(2)(A) (relating to rounding) is
amended by striking ``subsection (b)(2)'' and inserting ``subsection
(b)(2)(A) (after being increased under subparagraph (B) thereof)''.
(d) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2000.
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