S. 2376Senate108th Congress (2003-2005)In Committee

Working Family Tax Relief Act of 2004

Introduced May 4, 2004

Legislative Activity

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4 earlier actions
SenateIntro Referral Latest Action

Sponsor introductory remarks on measure. (CR S9570)

September 23, 2004

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SenateIntro Referral

Introduced in Senate

May 4, 2004

SenateIntro Referral

Sponsor introductory remarks on measure. (CR S4839)

May 4, 2004

SenateIntro Referral

Read twice and referred to the Committee on Finance.

May 4, 2004

SenateFloor

Star Print ordered on the bill.

May 7, 2004

SenateIntro Referral

Sponsor introductory remarks on measure. (CR S9570)

September 23, 2004

Floor Debate

7 members

What members said about S. 2376 on the floor

3 Republicans3 Democrats1 Independent
Edward M. Kennedy
Sen. Edward M. KennedyD-MA · May 4, 2004

Mr. President, it is a privilege to introduce the Safe Orderly Legal Visas and Enforcement (SOLVE) Act of 2004. Much of the Nation's economy today depends on the hard work and the many contributions…

James M. Jeffords
Sen. James M. JeffordsI-VT · May 4, 2004

Mr. President, I rise today to introduce the Lead-Free Drinking Water Act of 2004 with my colleague Senator Sarbanes. We are joined by our colleagues, Congresswoman Norton, Congressman Waxman, and…

Jim Bunning
Sen. Jim BunningR-KY · May 4, 2004

Mr. President, I rise today to introduce The Working Family Tax Relief Act of 2004. I would like to thank my colleague, Senator Miller, for his support of this important legislation. His leadership…

Jim Bunning
Sen. Jim BunningR-KY · May 4, 2004

Mr. President, I rise today to introduce The Working Family Tax Relief Act of 2004. I would like to thank my colleague, Senator Miller, for his support of this important legislation. His leadership…

John E. Sununu
Sen. John E. SununuR-NH · May 4, 2004

Mr. President, today I am introducing a bill to honor one of the Nation's great military visionaries, the late William ``Billy'' Mitchell. My legislation would correct an injustice that has existed…

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Harry Reid
Sen. Harry ReidD-NV · May 4, 2004

Mr. President. I arise today to introduce legislation to establish a public heliport facility in Clark County, NV. The purpose of my bill is simple: It would convey about a third of a square mile of…

Daniel K. Inouye
Sen. Daniel K. InouyeD-HI · May 4, 2004

Mr. President, I rise to introduce a bill that is long overdue and much needed in Indian country. On May 22nd of last year, the Committee on Indian Affairs held a hearing on the status of…

William H. Frist
Sen. William H. FristR-TN · May 7, 2004

Mr. President, I ask unanimous consent that S. 2376 be star printed with the changes that are at the desk.

Bill Text

Latest available legislative text

Reading Mode
Latest
Introduced in SenateIssued May 4, 2004
        [Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 2376 Introduced in Senate (IS)]

108th CONGRESS
2d Session
S. 2376

To amend the Internal Revenue Code of 1986 to repeal the scheduled
reductions in the child tax credit, marriage penalty relief, and 10-
percent rate bracket, and for other purposes.

_______________________________________________________________________

IN THE SENATE OF THE UNITED STATES

May 4, 2004

Mr. Bunning (for himself, Mr. Miller, Mr. Frist, Mr. Graham of South
Carolina, and Mrs. Hutchison) introduced the following bill; which was
read twice and referred to the Committee on Finance

_______________________________________________________________________

A BILL

To amend the Internal Revenue Code of 1986 to repeal the scheduled
reductions in the child tax credit, marriage penalty relief, and 10-
percent rate bracket, and for other purposes.

Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ``Working Family Tax Relief Act of
2004''.

SEC. 2. REPEAL OF SCHEDULED REDUCTIONS IN CHILD TAX CREDIT, MARRIAGE
PENALTY RELIEF, AND 10-PERCENT RATE BRACKET.

(a) Child Tax Credit.--Subsection (a) of section 24 of the Internal
Revenue Code of 1986 (relating to child tax credit) is amended to read
as follows:
``(a) Allowance of Credit.--There shall be allowed as a credit
against the tax imposed by this chapter for the taxable year with
respect to each qualifying child of the taxpayer an amount equal to
$1,000.''.
(b) Marriage Penalty Relief in Standard Deduction.--
(1) In general.--Paragraph (2) of section 63(c) of the
Internal Revenue Code of 1986 (relating to basic standard
deduction) is amended to read as follows:
``(2) Basic standard deduction.--For purposes of paragraph
(1), the basic standard deduction is--
``(A) 200 percent of the dollar amount in effect
under subparagraph (C) for the taxable year in the case
of--
``(i) a joint return, or
``(ii) a surviving spouse (as defined in
section 2(a)),
``(B) $4,400 in the case of a head of household (as
defined in section 2(b)), or
``(C) $3,000 in any other case.''.
(2) Conforming amendments.--
(A) Section 63(c)(4) of such Code is amended by
striking ``(2)(D)'' each place it occurs and inserting
``(2)(C)''.
(B) Section 63(c) of such Code is amended by
striking paragraph (7).
(c) Marriage Penalty Relief in 15-Percent Income Tax Bracket.--
Paragraph (8) of section 1(f) of the Internal Revenue Code of 1986 is
amended to read as follows:
``(8) Elimination of marriage penalty in 15-percent
bracket.--With respect to taxable years beginning after
December 31, 2004, in prescribing the tables under paragraph
(1)--
``(A) the maximum taxable income in the 15-percent
rate bracket in the table contained in subsection (a)
(and the minimum taxable income in the next higher
taxable income bracket in such table) shall be 200
percent of the maximum taxable income in the 15-percent
rate bracket in the table contained in subsection (c)
(after any other adjustment under this subsection), and
``(B) the comparable taxable income amounts in the
table contained in subsection (d) shall be \1/2\ of the
amounts determined under subparagraph (A).''.
(d) 10-Percent Rate Bracket.--
(1) In general.--Clause (i) of section 1(i)(1)(B) of the
Internal Revenue Code of 1986 is amended by striking ``($12,000
in the case of taxable years beginning after December 31, 2004,
and before January 1, 2008)''.
(2) Inflation adjustment.--Subparagraph (C) of section
1(i)(1) of such Code is amended to read as follows:
``(C) Inflation adjustment.--In prescribing the
tables under subsection (f) which apply with respect to
taxable years beginning in calendar years after 2003--
``(i) the cost-of-living adjustment shall
be determined under subsection (f)(3) by
substituting `2002' for `1992' in subparagraph
(B) thereof, and
``(ii) the adjustments under clause (i)
shall not apply to the amount referred to in
subparagraph (B)(iii).
If any amount after adjustment under the preceding
sentence is not a multiple of $50, such amount shall be
rounded to the next lowest multiple of $50.''.
(e) Provisions Made Permanent.--Title IX of the Economic Growth and
Tax Relief Reconciliation Act of 2001 (relating to sunset of provisions
of such Act) shall not apply to--
(1) section 1(i)(1) of the Internal Revenue Code of 1986 as
added by subsection (a) of section 101 of such Act,
(2) paragraphs (1) and (7) of section 101(c) of such Act,
(3) section 201(a) of such Act, and
(4) title III of such Act.
(f) Effective Dates.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2004.

SEC. 3. EXTENSION OF MINIMUM TAX RELIEF TO INDIVIDUALS.

(a) In General.--Subparagraphs (A) and (B) of section 55(d)(1) of
the Internal Revenue Code of 1986 (relating to exemption amount for
taxpayers other than corporations) are each amended by striking ``2003
and 2004'' and inserting ``2003, 2004, and 2005''.
(b) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2004.
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