S. 2423 · 108th Congress
A bill to repeal the reduction in the tax rate for the top tax bracket and to express the sense of the Senate…
Full title
A bill to repeal the reduction in the tax rate for the top tax bracket and to express the sense of the Senate that revenue savings from the repeal should be used to improve benefits under the Montgomery GI Bill by $6,000,000,000 over 10 years, to fund Federal Pell grants at the full amounts authorized for fiscal year 2004, and to double the fiscal year 2004 funding for Perkins loans, Federal work-study programs, and Federal supplemental educational opportunity grants (SEOG).
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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.
D
DaytonSponsorNo cosponsors.
Amends the Internal Revenue Code to repeal the reduction in the top tax rate for individual taxpayers for taxable years beginning in 2003 and thereafter (increasing the rate from 35 to 39.6 percent).
What it does: CRS summary · Introduced in Senate · May 13, 2004
Amends the Internal Revenue Code to repeal the reduction in the top tax rate for individual taxpayers for taxable years beginning in 2003 and thereafter (increasing the rate from 35 to 39.6 percent).
Expresses the sense of the Senate that any increase in Federal revenue resulting from the repeal of tax rate reductions by this Act should be used to improve benefits under the Montgomery GI Bill by $6 billion over ten years, to fund Federal Pell grants at the full amount authorized for FY 2004, and to double to FY 2004 funding for Perkins loans, Federal work-study programs, and Federal supplemental educational opportunity grants (SEOG).
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: A bill to repeal the reduction in the tax rate for the top tax bracket and to express the sense of the Senate that revenue savings from the repeal should be used to improve benefits under the Montgomery GI Bill by $6,000,000,000 over 10 years, to fund Federal Pell grants at the full amounts authorized for fiscal year 2004, and to double the fiscal year 2004 funding for Perkins loans, Federal work-study programs, and Federal supplemental educational opportunity grants (SEOG).
Latest action (May 13, 2004): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: May 13, 2004
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.