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- S.1145
S.1145: SMART Act
About This Bill
- Introduced April 11, 2019
- Latest Major Action April 11, 2019
- See the four similar bills introduced in other congresses.
Bill Sponsor
Bill Version
- Introduced in Senate - April 11, 2019
Bill Summary
Simplified, Manageable, And Responsible Tax Act or the SMART Act This bill replaces the marginal income tax rates in the Internal Revenue Code 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)
Bill Actions
| Date | Description |
|---|---|
| April 11, 2019 |
Read twice and referred to the Committee on Finance.
|
| April 11, 2019 |
Introduced in the Senate by Richard C. Shelby (R-Ala.) |