|Federal Legislation||October 16, 2002|
S. 120-Marriage Penalty Relief Act of 2003
None at this time.
Official purpose: A bill to eliminate the marriage tax penalty permanently in 2003.
Introduced January 9, 2003 by Sen. Kay Bailey Hutchison [TX]
|1/9/2003:||Introductory remarks on measure. Read twice and referred to the Committee on Finance.|
|12/31/2004:||This bill is "dead". It was not passed into law before the end of the 108th Congress.|
On June 7, 2001 President Bush signed into law the marriage penalty tax relief act (Public Law No: 107-16). This new law amends the Internal Revenue Code of 1986 by gradually reducing the marriage tax penalty, adjusting the standard deduction, the 15 percent rate bracket, and the earned income credit. The new law was set to begin after December 31, 2004.
If passed into law, S. 120 would amend current law and eliminate the marriage penalty tax permanently, retroactive to January 1, 2003. HSLDA has been a long supporter of the marriage penalty tax relief plan.
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