See How Your Politicians Voted
Title: Changes in Income Tax Deductions for Married Couples
Vote Smart's Synopsis:
Vote to pass a bill that would provide $182 billion over 10 years in tax relief for married couples.
- Provides that the basic standard deduction for a married couple filing jointly shall be twice that of unmarried individuals, beginning in 2001.
- Phases out the 15 percent tax bracket over 6 years beginning in 2003 by doubling the size of joint returns for married couples.
- Increases earned income credit by $2,000 for married couples filing jointly beginning in 2001.
- Repeals provisions that reduce the refundable child credit and earned income credit by the amount of the taxpayer's alternative minimum tax starting in 2002.