H.R. 2842 · 114th Congress
Individual Rate Simplification Act of 2015
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
WilliamsSponsorNo cosponsors.
This bill amends the Internal Revenue Code to revise individual income tax rates to establish a 20% rate on taxable income of $1 million or less and a 30% rate on taxable income over $1 million for taxable years beginning after December 31, 2015.
What it does: CRS summary · Introduced in House · Jun 18, 2015
Individual Rate Simplification Act of 2015
This bill amends the Internal Revenue Code to revise individual income tax rates to establish a 20% rate on taxable income of $1 million or less and a 30% rate on taxable income over $1 million for taxable years beginning after December 31, 2015. The bill requires an annual inflation adjustment to the $1 million threshold amount in taxable years beginning after 2016.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Individual Rate Simplification Act of 2015
Latest action (Jun 18, 2015): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jun 18, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.