[20040917]RS21863_最近众议院立法延长了2001年和2003年减税的部分条款.pdf

Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS WebOrder Code RS21863Updated September 17, 2004Recent House Legislation Extending SelectedProvisions of the 2001 and 2003 Tax Cuts Gregg EsenweinSpecialist in Public FinanceGovernment and Finance DivisionSummaryThe Economic Growth and Tax Relief Reconciliation Act of 2001 reducedmarginal income tax rates, created a new 10% income tax bracket, provided marriagetax penalty relief, and increased the child tax credit. All of the acts provisions,however, are scheduled to sunset (revert to prior law levels) at the end of 2010.The Jobs and Growth Tax Relief Reconciliation Act of 2003 accelerated theimplementation of certain tax reductions that were originally enacted in the 2001 Act.Several of these provisions will expire at the end of 2004, including the expansion of the10% tax bracket, marriage tax penalty relief, the increase in the child tax credit, and theincrease in the alternative minimum tax (AMT) exemption.During this session, Congress faces the issue of whether to extend and/or makepermanent these expiring tax provisions. To date, the House has passed four major taxbills; H.R. 4