Home > 106th Congressional Bills > S. 2404 (is) To amend chapter 75 of title 5, United States Code, to provide that any Federal law enforcement officer who is convicted of a felony shall be terminated from employment. [Introduced in Senate] ...

S. 2404 (is) To amend chapter 75 of title 5, United States Code, to provide that any Federal law enforcement officer who is convicted of a felony shall be terminated from employment. [Introduced in Senate] ...


Google
 
Web GovRecords.org








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.
                                 <all>

Pages: 1

Other Popular 106th Congressional Bills Documents:

1 H.R. 990 (ih) To provide for investment in private sector securities markets of amounts held in the Federal Old-Age and Survivors Insurance Trust Fund for payment of benefits under title II of the Social Security Act. [Introduced in House] ...
2 H.R. 426 (ih) For the relief of Mounir Adel Hajjar. [Introduced in House] ...
3 S.Con.Res. 123 (is) Expressing the sense of the Congress regarding manipulation of the mass [Introduced in Senate] ...
4 S. 1276 (is) To prohibit employment discrimination on the basis of sexual orientation. [Introduced in Senate] ...
5 H.Res. 628 (eh) [Engrossed in House] ...
6 S. 2625 (rfh) To amend the Public Health Service Act to revise the performance standards and certification process for organ procurement organizations. [Referred in House] ...
7 S.Res. 344 (is) Expressing the sense of the Senate that the proposed merger of United Airlines and US Airways is inconsistent with the public interest and public convenience and necessity policy set forth in section 40101 of title 49, United States Code....
8 S. 415 (is) To protect the permanent trust funds of the State of Arizona from erosion due to inflation and modify the basis on which distributions are made from those funds. [Introduced in Senate] ...
9 H.R. 1095 (ih) To require the United States to take action to provide bilateral debt relief, and improve the provision of multilateral debt relief, in order to give a fresh start to poor countries. [Introduced in House] ...
10 S.Res. 208 (is) Expressing the sense of the Senate regarding United States policy toward the North Atlantic Treaty Organization and the European Union, in light of the Alliance's April 1999 Washington Summit and the European Union's June 1999 Cologne Summ...
11 S. 3230 (es) To reauthorize the authority for the Secretary of Agriculture to pay costs associated with removal of commodities that pose a health or safety risk and to make adjustments to certain child nutrition programs. [Engrossed in Senate] %%Filename:...
12 S. 2508 (rs) To amend the Colorado Ute Indian Water Rights Settlement Act of 1988 to provide for a final settlement of the claims of the Colorado Ute Indian Tribes, and for other purposes. [Reported in Senate] ...
13 H.R. 4957 (rds) To amend the Omnibus Parks and Public Lands Management Act of 1996 to extend the legislative authority for the Black Patriots Foundation to establish a commemorative work. [Received in the Senate] ...
14 S.Con.Res. 43 (ats) Providing for a conditional adjournment or recess of the Senate and a conditional adjournment of the House of Representatives. [Agreed to Senate] ...
15 S. 1467 (eah) [Engrossed Amendment House] ...
16 H.R. 1651 (ih) To amend the Fishermen's Protective Act of 1967 to extend the period during which reimbursement may be provided to owners of United States fishing vessels for costs incurred when such a vessel is seized and detained by a foreign country. [I...
17 H.R. 776 (ih) To amend the Occupational Safety and Health Act of 1970 to provide for coverage under that Act of employees of States and political subdivisions of States. [Introduced in House] ...
18 S. 2865 (rs) To designate certain land of the National Forest System located in the State of Virginia as wilderness. [Reported in Senate] ...
19 S. 1402 (enr) To amend title 38, United States Code, to increase the rates of [Enrolled bill] ...
20 S.Con.Res. 154 (enr) [Enrolled bill] ...
21 S. 2642 (is) To amend the Internal Revenue Code of 1986 to provide major tax [Introduced in Senate] ...
22 S. 3137 (is) To establish a commission to commemorate the 250th anniversary of the birth of James Madison. [Introduced in Senate] ...
23 H.Con.Res. 446 (eh) [Engrossed in House] ...
24 H.R. 3369 (ih) To reduce temporarily the duty on the chemical KL084. [Introduced in House] ...
25 H.R. 1444 (eas) [Engrossed Amendment Senate] ...
26 H.R. 1568 (enr) To provide technical, financial, and procurement assistance to veteran owned small businesses, and for other purposes. [Enrolled bill] ...
27 H.R. 1795 (eh) To amend the Public Health Service Act to establish the National Institute of Biomedical Imaging and Bioengineering. [Engrossed in House] ...
28 S. 2476 (is) To amend the Communications Act of 1934 in order to prohibit any regulatory impediments to completely and accurately fulfilling the sufficiency of support mandates of the national statutory policy of universal service, and for other purposes....
29 S. 2813 (is) To provide for a land exchange to fulfill the Federal obligation to the [Introduced in Senate] ...
30 S. 322 (enr) To amend title 4, United States Code, to add the Martin Luther King Jr. holiday to the list of days on which the flag should especially be displayed. [Enrolled bill] ...


Other Documents:

106th Congressional Bills Records and Documents

GovRecords.org presents information on various agencies of the United States Government. Even though all information is believed to be credible and accurate, no guarantees are made on the complete accuracy of our government records archive. Care should be taken to verify the information presented by responsible parties. Please see our reference page for congressional, presidential, and judicial branch contact information. GovRecords.org values visitor privacy. Please see the privacy page for more information.
House Rules:

104th House Rules
105th House Rules
106th House Rules

Congressional Bills:

104th Congressional Bills
105th Congressional Bills
106th Congressional Bills
107th Congressional Bills
108th Congressional Bills

Supreme Court Decisions

Supreme Court Decisions

Additional

1995 Privacy Act Documents
1997 Privacy Act Documents
1994 Unified Agenda
2004 Unified Agenda

Congressional Documents:

104th Congressional Documents
105th Congressional Documents
106th Congressional Documents
107th Congressional Documents
108th Congressional Documents

Congressional Directory:

105th Congressional Directory
106th Congressional Directory
107th Congressional Directory
108th Congressional Directory

Public Laws:

104th Congressional Public Laws
105th Congressional Public Laws
106th Congressional Public Laws
107th Congressional Public Laws
108th Congressional Public Laws

Presidential Records

1994 Presidential Documents
1995 Presidential Documents
1996 Presidential Documents
1997 Presidential Documents
1998 Presidential Documents
1999 Presidential Documents
2000 Presidential Documents
2001 Presidential Documents
2002 Presidential Documents
2003 Presidential Documents
2004 Presidential Documents

Home Executive Judicial Legislative Additional Reference About Privacy