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S. 135 · 108th Congress

Dayton Fair Tax Cut Act

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

MDD DaytonSponsor

No cosponsors.

Dayton Fair Tax Cut Act - Amends the Internal Revenue Code to: (1) expand the 10 percent bracket; (2) eliminate scheduled decreases in the higher brackets; (3) eliminate the repeal of the estate tax by repealing subtitle A (Repeal of Estate and Generation-Skipping Transfer Taxes) of the Economic Growth and Tax Reconciliation Act of 2001), provide for a $4…

What it does: CRS summary · Introduced in Senate · Jan 9, 2003
Dayton Fair Tax Cut Act - Amends the Internal Revenue Code to: (1) expand the 10 percent bracket; (2) eliminate scheduled decreases in the higher brackets; (3) eliminate the repeal of the estate tax by repealing subtitle A (Repeal of Estate and Generation-Skipping Transfer Taxes) of the Economic Growth and Tax Reconciliation Act of 2001), provide for a $4 million estate tax exemption, and provide for a complete estate tax deduction for family-owned businesses; (4) set forth rules for concerning the economic substance doctrine, increase certain penalties, and impose additional requirements with respect to tax shelters; (5) tax as domestic corporations foreign corporations created through inversion transactions; (6) accelerate the $1,000 child tax credit; (7) provide marriage penalty relief; and (8) extend the special alternative minimum tax rule applicable to years 2000, 2001, 2002, and 2003 to years 2003, 2004, and 2005.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Dayton Fair Tax Cut Act

Latest action (Jan 9, 2003): Read twice and referred to the Committee on Finance.

Policy area: Taxation · Origin: Senate · Introduced: Jan 9, 2003

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.