I
105TH CONGRESS
1ST SESSION
H. R. 2718
To amend the Internal Revenue Code of 1986 to reduce the rates of income
tax paid by individual taxpayers, to eliminate the marriage penalty in
the standard deduction, and to change the filing date for individual
tax returns to November 1.
IN THE HOUSE OF REPRESENTATIVES
OCTOBER 23, 1997
Mr. KNOLLENBERG
(for himself, Mr. BARRETT
of Nebraska, Mrs.
CHENOWETH, Mr. GRAHAM, Mr. MCCOLLUM, Mr. MCINTOSH, Mr. BOB
SCHAFFER of Colorado, and Mr. WATTS of Oklahoma) introduced the fol-
lowing bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to reduce
the rates of income tax paid by individual taxpayers,
to eliminate the marriage penalty in the standard deduc-
tion, and to change the filing date for individual tax
returns to November 1.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ‘‘Taxpayer Relief and
Protection Act of 1997’’.
SEC. 2. REDUCTION IN RATES OF INCOME TAX FOR NON-
CORPORATE TAXPAYERS.
(a) IN GENERAL.—Each of the tables contained in
section 1 of the Internal Revenue Code of 1986 (relating
to tax imposed) is amended—
(1) by striking ‘‘15%’’ and inserting ‘‘14.25%’’,
(2) by striking ‘‘28%’’ and inserting ‘‘26.6%’’,
(3) by striking ‘‘31%’’ and inserting ‘‘29.45%’’,
(4) by striking ‘‘36%’’ and inserting ‘‘34.2%’’,
and
(5) 
by 
striking 
‘‘39.6%’’ 
and 
inserting
‘‘37.62%’’.
(b) MAXIMUM CAPITAL GAINS RATES.—Subsection
(h) of such Code (relating to maximum capital gains rate)
is amended—
(1) in paragraph (1)—
(A) by striking ‘‘28 percent’’ in subclause
(I) of subparagraph (A)(ii) and inserting ‘‘26.6
percent’’,
(B) by striking ‘‘25 percent’’ in subpara-
graph (B) and inserting ‘‘23.75 percent’’,
(C) by striking ‘‘28 percent’’ in subpara-
graph (C) and inserting ‘‘26.6 percent’’,
(D) in subparagraph (D)—
(i) by striking ‘‘10 percent’’ in the
matter preceding clause (i) and inserting
‘‘9.5 percent’’, and
(ii) by striking ‘‘28 percent’’ and in-
serting ‘‘26.6’’, and
(E) by striking ‘‘20 percent’’ in subpara-
graph (E) and inserting ‘‘19 percent’’, and
(2) in paragraph (2)—
(A) in subparagraph (A)—
(i) by striking ‘‘8 percent’’ and insert-
ing ‘‘7.6 percent’’,
(ii) by striking ‘‘10-percent’’ and in-
serting ‘‘9.5-percent’’, and
(iii) by striking ‘‘10 percent’’ and in-
serting ‘‘9.5 percent’’,
(B) in subparagraph (B)—
(i) in the matter preceding clause
(i)—
(I) by striking ‘‘18 percent’’ and
inserting ‘‘17.1 percent’’, and
(II) by striking ‘‘20-percent’’ and
inserting ‘‘19-percent’’, and
(ii) by striking ‘‘20 percent’’ in clause
(ii) and inserting ‘‘19 percent’’.
SEC. 4. CHANGE IN FILING DATE FOR INDIVIDUAL INCOME
TAX RETURNS TO NOVEMBER 1.
(a) IN GENERAL.—Section 6072(a) of the Internal
Revenue Code of 1986 (relating to time for filing income
tax returns) is amended—
(1) by striking ‘‘15th day of April’’ and insert-
ing ‘‘1st day of November’’, and
(2) by striking ‘‘15th day of the fourth month’’
and inserting ‘‘1st day of the 11th month’’.
(b) CONFORMING AMENDMENTS.—
(1) Section 3510(a)(2) of such Code (relating
to coordination of collection of domestic service em-
ployment taxes with collection of income taxes) is
amended by striking ‘‘15th day of the fourth month’’
and inserting ‘‘1st day of the 11th month’’.
(2) Section 6075(b) of such Revenue Code (re-
lating to gift tax returns) is amended—
(A) in paragraph (3), by striking ‘‘para-
graphs (1) and (2)’’ and inserting ‘‘paragraph
(1)’’,
(B) by striking paragraph (2), and
(C) by redesignating paragraph (3) as
paragraph (2).
(3) Section 6501(b)(2) of such Code (relating
to return of certain employment taxes and tax im-
posed by chapter 3) is amended by striking ‘‘April
15’’ both places it appears and inserting ‘‘November
1’’.
(4) Section 6513 of such Code (relating to time
return deemed filed and tax considered paid) is
amended—
(A) in subsection (b)(1), by striking ‘‘15th
day of the fourth month’’ and inserting ‘‘1st
day of the 11th month’’, and
(B) in subsection (c), by striking ‘‘April
15’’ each place it appears and inserting ‘‘No-
vember 1’’.
(5) Section 6621(b)(2) of such Code (relating
to special rule for individual estimated tax) is
amended to read as follows:
‘‘(2) PERIOD DURING WHICH RATE APPLIES.—
The Federal short-term rate determined under para-
graph (1) for any month shall apply during the first
calendar quarter beginning after such month.’’
(6) Section 6654(b)(2)(A) of such Code (relat-
ing to period of underpayment) is amended by strik-
ing ‘‘15th day of the 4th month’’ and inserting ‘‘1st
day of the 11th month’’.
(c) EFFECTIVE DATE.—The amendments made by
this section shall apply to taxable years beginning after
December 31, 1997.
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