Family Tax Reduction Act of 1999

Family Tax Reduction Act of 1999 - Amends the Internal Revenue Code to, among other things: (1) make the standard deduction for taxpayers filing a joint returns twice the deduction of taxpayers filing single returns; (2) increase the deduction from the estate tax for family-owned farms and other family-owned business interests; (3) establish a family care credit for taxpayers with long-term care needs; (4) increase the maximum child and dependent care tax credit rate; (5) allow a 100 percent deduction for the health insurance costs of self-employed individuals; and (6) provide for an inflation adjustment in the alternative minimum tax exemption amount for individuals.