A bill to amend the Internal Revenue Code of 1954 to limit to $700 the maximum reduction in individual income tax resulting from the third year of the rate cuts enacted by the Economic Recovery Tax Act of 1981.
Tax Rate Equity Act of 1983 - Expresses the sense of the Congress that the revenue gained from the cap on the third year of the individual tax rate cut be applied to a reduction in Federal deficits, and the Budget Committees apply the revenue gained from such cap to reduce deficit projections.
Amends the Internal Revenue Code to limit to $700 the maximum reduction in individual income tax resulting from the third year of rate reductions enacted by the Economic Recovery Tax Act of 1981.
Provides for a reduction in Federal expenditures in FY 1984 equal to the amount of revenue projected to be collected from the changes in the individual income tax made by this Act.
Similiar Provisions Contained in H.R.3678.
Introduced in House
Referred to House Committee on Ways and Means.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended).
Reported to House (Amended) by House Committee on Ways and Means. Report No: 98-252.
Reported to House (Amended) by House Committee on Ways and Means. Report No: 98-252.
Placed on Union Calendar No: 167.
Committee on Rules Granted a Modified Closed Rule Providing Two Hours of Debate; Partial Waiver of Points of Order.
Rules Committee Resolution H.Res.242 Reported to House.
Rule Passed House.
Called up by House by Rule.
The Clerk Reported Committee Amendments.
House Agreed to Amendments Adopted by the Committee of the Whole.
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Passed/agreed to in House: Passed House (Amended) by Yea-Nay Vote: 229 - 191 (Record Vote No: 218).
Roll Call #218 (House)Passed House (Amended) by Yea-Nay Vote: 229 - 191 (Record Vote No: 218).
Roll Call #218 (House)Received in the Senate, read twice and ordered to be held at the desk.
Measure laid before Senate by unanimous consent.
Considered by Senate.
Failed of passage/not agreed to in Senate: Failed of passage in Senate by Yea-Nay Vote. 45-55. Record Vote No: 174.
Roll Call #174 (Senate)Failed of passage in Senate by Yea-Nay Vote. 45-55. Record Vote No: 174.
Roll Call #174 (Senate)