Economic Stimulus Act of 2001

Economic Stimulus Act of 2001 - Amends the Internal Revenue Code, as of tax year 2001, to reduce the 15 percent tax rate to ten percent for: (1) joint filers with taxable income below $20,000; (2) heads of household with taxable income below $16,000; and (3) single or married persons filing separately with taxable income below $10,000.

Provides a payroll tax credit ($500 maximum) for qualifying taxpayers with no tax liability as of tax year 2001.