A bill to amend the Internal Revenue Code of 1954 to limit the maximum reduction in individual income tax under the tables enacted by the Economic Recovery Tax Act of 1981 to $700 for taxable years beginning in 1982 and to $1,400 for taxable years beginning in 1983.
Tax Rate Equity Act of 1982 - Amends the Internal Revenue Code to repeal the 1982 and 1983 tax tables for individuals. Directs the Secretary of the Treasury to prescribe tax tables with a maximum reduction of the tax liability of $700 in 1982 and $1,400 in 1983.
Amends the Economic Recovery Tax Act of 1981 to delay the repeal of the maximum tax on personal service income and the reduction in the alternative minimum tax, and the personal holding company tax until 1984. Reinstates the 28 percent maximum tax rate on capital gains, effective 1982.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
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