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- H.R.5306
H.R.5306: Tax Rate Reduction Act of 1994
About This Bill
- This bill was introduced in the 103rd Congress
- This bill is primarily about taxation
- Introduced Nov. 29, 1994
- Latest Major Action Nov. 29, 1994
Bill Sponsor
Bill Cosponsors
11 (All Republicans)
Bill Summary
Tax Rate Reduction Act of 1994 - Amends the Internal Revenue Code to repeal the highest income tax rate for individuals, lower the highest taxable income threshold, and reduce individual income tax rates from 1995 until 1998. Repeals the overall limitation on itemized deductions and the phaseout of personal exemptions.
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Referred to the House Committee on Ways and Means.
|
|
| Nov. 29, 1994 |
Introduced in the House by H. James Saxton (R-N.J.) |