A bill to amend the Internal Revenue Code of 1986 to extend the individual income tax rates in effect in 1987 for 3 years but to provide cost-of-living adjustments in such rates, and for other purposes.
Tax Rate Freeze Act - Amends the Internal Revenue Code to extend the currently applicable individual income tax rates through 1990. (Under present law these rates apply only to tax year 1987.) Requires annual indexing of the rates to reflect inflation.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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