H.R. 2950 · 109th Congress
Individual Tax Simplification Act of 2005
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
NealSponsorNo cosponsors.
Individual Tax Simplification Act of 2005 - Revises provisions of the Internal Revenue Code pertaining to: (1) the alternative minimum tax; (2) the phaseout of the tax credits for adoption expenses, child care, and educational assistance based on modified adjusted gross income; and (3) the capital gains tax.
What it does: CRS summary · Introduced in House · Jun 16, 2005
Individual Tax Simplification Act of 2005 - Revises provisions of the Internal Revenue Code pertaining to: (1) the alternative minimum tax; (2) the phaseout of the tax credits for adoption expenses, child care, and educational assistance based on modified adjusted gross income; and (3) the capital gains tax.
Repeals, after 2005: (1) the overall limitation on itemized tax deductions; (2) the phaseout of personal tax exemptions; and (3) the alternative minimum tax on individuals.
Imposes an additional income tax on adjusted gross incomes exceeding certain threshold levels to ensure the revenue neutrality of this Act.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Individual Tax Simplification Act of 2005
Latest action (Jun 22, 2005): Sponsor introductory remarks on measure. (CR H4904)
Policy area: Taxation · Origin: House · Introduced: Jun 16, 2005
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.