A bill to amend the Internal Revenue Code of 1986 to reduce the 15 percent individual income tax rate to 10 percent over 5 years, to provide that married couples may file a combined return under which each spouse is taxed using the rates applicable to unmarried individuals, and for other purposes.
Taxpayer Freedom and Fairness Act - Amends the Internal Revenue Code to reduce the 15 percent individual income tax rate to ten percent over five years.
Authorizes a married couple to file a combined return under which: (1) each spouse is taxed using the rates applicable to unmarried individuals; but (2) their joint tax liability shall be for the aggregate amount resulting from applying the separate rates to each taxable income.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S3779-3780)
Read twice and referred to the Committee on Finance.
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