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[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[S. 274 Introduced in Senate (IS)]

106th CONGRESS
  1st Session
                                 S. 274

  To amend the Internal Revenue Code of 1986 to increase the maximum 
            taxable income for the 15 percent rate bracket.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                            January 21, 1999

Mr. Coverdell (for himself, Mr. McCain, and Mr. Torricelli) 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 increase the maximum 
            taxable income for the 15 percent rate bracket.

    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 ``Middle Class Tax Relief Act of 
1999''.

SEC. 2. INCREASE IN MAXIMUM TAXABLE INCOME FOR 15 PERCENT RATE BRACKET.

    Section 1(f) of the Internal Revenue Code of 1986 (relating to 
adjustments in tax tables so that inflation will not result in tax 
increases) is amended--
            (1) in paragraph (2)--
                    (A) by redesignating subparagraphs (B) and (C) as 
                subparagraphs (C) and (D),
                    (B) by inserting after subparagraph (A) the 
                following:
                    ``(B) in the case of the tables contained in 
                subsections (a), (b), (c), and (d), by increasing the 
                maximum taxable income level for the 15 percent rate 
                bracket and the minimum taxable income level for the 28 
                percent rate bracket otherwise determined under 
                subparagraph (A) for taxable years beginning in any 
                calendar year after 1999, by the applicable dollar 
                amount for such calendar year,'', and
                    (C) by striking ``subparagraph (A)'' in 
                subparagraph (C) (as so redesignated) and inserting 
                ``subparagraphs (A) and (B)'', and
            (2) by adding at the end the following:
            ``(8) Applicable dollar amount.--For purposes of paragraph 
        (2)(B), the applicable dollar amount for any calendar year 
        shall be determined as follows:
                    ``(A) Joint returns and surviving spouses.--In the 
                case of the table contained in subsection (a)--

                                                             Applicable
``Calendar year:                                         Dollar Amount:
    2000..........................................              $2,000 
    2001..........................................              $4,000 
    2002..........................................              $6,000 
    2003..........................................              $8,000 
    2004 and thereafter...........................             $10,000.
                    ``(B) Other tables.--In the case of the table 
                contained in subsection (b), (c), or (d)--

                                                             Applicable
``Calendar year:                                         Dollar Amount:
    2000..........................................              $1,000 
    2001..........................................              $2,000 
    2002..........................................              $3,000 
    2003..........................................              $4,000 
    2004 and thereafter...........................            $5,000.''
                                 <all>
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