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- S.893
S.893: SMART Act
About This Bill
- Introduced April 7, 2017
- Latest Major Action April 7, 2017
- See the four similar bills introduced in other congresses.
Bill Sponsor
Bill Version
- Introduced in Senate - April 7, 2017
Bill Summary
Simplified, Manageable, And Responsible Tax Act or the SMART Act This bill amends the Internal Revenue Code to replace the marginal income tax rates with a single rate of 17% on individual taxable income. The bill redefines "taxable income" to mean the amount by which wages, retirement distributions, and unemployment compensation exceed the standard deduction. It also: increases the basic standard deduction, includes an additional standard...
(Source: Library of Congress)
What Lawmakers Are Saying About This Bill
Bill Actions
Date | Description |
---|---|
April 7, 2017 |
Read twice and referred to the Committee on Finance.
|
April 7, 2017 |
Introduced in the Senate by Richard C. Shelby (R-Ala.) |