To repeal the increase in tax on unearned income of minor children enacted by the Tax Increase Prevention and Reconciliation Act of 2005.
Student Savings Act of 2006 - Repeals the provision of the Tax Increase Prevention and Reconciliation Act of 2005 which subjects the passive income of minor children under the age of 18 (formerly, under the age of 14) to the marginal income tax rates of their parents. Imposes a surtax on individual adjusted gross income over $1 million to compensate for revenue losses resulting from such repeal.
Referred to the House Committee on Ways and Means.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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