I 
108TH CONGRESS 
2D SESSION 
H. R. 3773
To amend the Internal Revenue Code of 1986 to repeal the sunset of the 
Economic Growth and Tax Relief Reconciliation Act of 2001 and to 
repeal scheduled reductions in tax benefits provided by the Jobs and 
Growth Tax Relief Reconciliation Act of 2003. 
IN THE HOUSE OF REPRESENTATIVES 
FEBRUARY 4, 2004
Mr. HULSHOF (for himself and Mr. RYAN of Wisconsin) introduced the 
following bill; which was referred to the Committee on Ways and Means 
A BILL 
To amend the Internal Revenue Code of 1986 to repeal 
the sunset of the Economic Growth and Tax Relief Rec-
onciliation Act of 2001 and to repeal scheduled reduc-
tions in tax benefits provided by the Jobs and Growth 
Tax Relief Reconciliation Act of 2003.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE. 
(a) SHORT TITLE.—This Act may be cited as the 
‘‘Tax Relief Guarantee Act of 2004’’. 
(b) AMENDMENT OF 1986 CODE.—Except as other-
wise expressly provided, whenever in this Act an amend-
ment or repeal is expressed in terms of an amendment 
to, or repeal of, a section or other provision, the reference 
shall be considered to be made to a section or other provi-
sion of the Internal Revenue Code of 1986. 
SEC. 2. REPEAL OF SUNSET OF THE ECONOMIC GROWTH 
AND TAX RELIEF RECONCILIATION ACT OF 
2001. 
Title IX of the Economic Growth and Tax Relief Rec-
onciliation Act of 2001 is hereby repealed. 
SEC. 3. REPEAL OF SCHEDULED REDUCTIONS IN TAX BEN-
EFITS PROVIDED BY THE JOBS AND GROWTH 
TAX RELIEF RECONCILIATION ACT OF 2003. 
(a) CHILD TAX CREDIT.—Subsection (a) of section 
24 (relating to child tax credit) is amended to read as fol-
lows: 
‘‘(a) ALLOWANCE OF CREDIT.—There shall be al-
lowed as a credit against the tax imposed by this chapter 
for the taxable year with respect to each qualifying child 
of the taxpayer an amount equal to $1,000.’’
(b) MARRIAGE PENALTY RELIEF IN STANDARD DE-
DUCTION.—
(1) IN
GENERAL.—Paragraph (2) of section 
63(c) (relating to basic standard deduction) is 
amended to read as follows:
‘‘(2) BASIC STANDARD DEDUCTION.—For pur-
poses of paragraph (1), the basic standard deduction 
is—
‘‘(A) 200 percent of the dollar amount in 
effect under subparagraph (C) for the taxable 
year in the case of—
‘‘(i) a joint return, or 
‘‘(ii) a surviving spouse (as defined in 
section 2(a)), 
‘‘(B) $4,400 in the case of a head of 
household (as defined in section 2(b)), or 
‘‘(C) $3,000 in any other case.’’. 
(2) CONFORMING AMENDMENTS.—
(A) Section 63(c)(4) is amended by strik-
ing ‘‘(2)(D)’’ each place it occurs and inserting 
‘‘(2)(C)’’. 
(B) Section 63(c) is amended by striking 
paragraph (7). 
(c) MARRIAGE PENALTY RELIEF IN 15-PERCENT IN-
COME TAX BRACKET.—Paragraph (8) of section 1(f) is 
amended to read as follows: 
‘‘(8) ELIMINATION OF MARRIAGE PENALTY IN 
15-PERCENT
BRACKET.—With respect to taxable 
years beginning after December 31, 2004, in pre-
scribing the tables under paragraph (1)—
‘‘(A) the maximum taxable income in the 
15-percent rate bracket in the table contained 
in subsection (a) (and the minimum taxable in-
come in the next higher taxable income bracket 
in such table) shall be 200 percent of the max-
imum taxable income in the 15-percent rate 
bracket in the table contained in subsection (c) 
(after any other adjustment under this sub-
section), and 
‘‘(B) 
the 
comparable 
taxable 
income 
amounts in the table contained in subsection 
(d) shall be 1⁄2 of the amounts determined 
under subparagraph (A).’’
(d) 10-PERCENT RATE BRACKET.—
(1) 
IN
GENERAL.—Clause 
(i) 
of 
section 
1(i)(1)(B) is amended by striking ‘‘($12,000 in the 
case of taxable years beginning after December 31, 
2004, and before January 1, 2008)’’. 
(2) INFLATION
ADJUSTMENT.—Subparagraph 
(C) of section 1(i)(1) is amended to read as follows:
‘‘(C) INFLATION
ADJUSTMENT.—In pre-
scribing the tables under subsection (f) which 
apply with respect to taxable years beginning in 
calendar years after 2003—
‘‘(i) the cost-of-living adjustment shall 
be determined under subsection (f)(3) by 
substituting ‘2002’ for ‘1992’ in subpara-
graph (B) thereof, and 
‘‘(ii) the adjustments under clause (i) 
shall not apply to the amount referred to 
in subparagraph (B)(iii). 
If any amount after adjustment under the pre-
ceding sentence is not a multiple of $50, such 
amount shall be rounded to the next lowest 
multiple of $50.’’
(e) PERMANENT REDUCTION
IN CAPITAL GAINS 
RATES FOR INDIVIDUALS AND IN TAXATION OF DIVI-
DENDS.—Section 303 of the Jobs and Growth Tax Relief 
Reconciliation Act of 2003 is hereby repealed. 
(f) EXPENSING UNDER SECTION 179.—
(1) Paragraph (1) of section 179(b) is amended 
by striking ‘‘$25,000 ($100,000 in the case of tax-
able years beginning after 2002 and before 2006)’’ 
and inserting ‘‘$100,000’’. 
(2) Paragraph (2) of section 179(b) is amended 
by striking ‘‘$200,000 ($400,000 in the case of tax-
able years beginning after 2002 and before 2006)’’ 
and inserting ‘‘$400,000’’. 
(g) BONUS DEPRECIATION.—
(1) IN GENERAL.—So much of section 168(k) 
as precedes paragraph (2) is amended to read as fol-
lows: 
‘‘(k) SPECIAL ALLOWANCE FOR CERTAIN PROPERTY 
ACQUIRED AFTER MAY 5, 2003.—
‘‘(1) ADDITIONAL ALLOWANCE.—In the case of 
any qualified property— 
‘‘(A) the depreciation deduction provided 
by section 167(a) for the taxable year in which 
such property is placed in service shall include 
an allowance equal to 50 percent of the ad-
justed basis of the qualified property, and 
‘‘(B) the adjusted basis of the qualified 
property shall be reduced by the amount of 
such deduction before computing the amount 
otherwise allowable as a depreciation deduction 
under this chapter for such taxable year and 
any subsequent taxable year.’’
(2) CONFORMING AMENDMENTS.—
(A) Subparagraph (A) of section 168(k)(2) 
is amended by striking clauses (ii), (iii), and 
(iv) and inserting the following new clauses: 
‘‘(ii) the original use of which com-
mences with the taxpayer after May 5, 
2003, and
‘‘(iii) which is acquired by the tax-
payer after May 5, 2003, but only if no 
written binding contract for the acquisition 
was in effect before May 6, 2003.’’
(B) Paragraph (2) of section 168(k) is 
amended by striking subparagraph (B) and by 
redesignating subparagraphs (C), (D), (E), and 
(F) as subparagraphs (B), (C), (D), and (E), 
respectively. 
(C) Clause (i) of section 168(k)(2)(C), as 
so redesignated, is amended by striking ‘‘after 
September 10, 2001, and before January 1, 
2005’’ and inserting ‘‘after May 5, 2003’’. 
(D) Clause (ii) of section 168(k)(2)(C), as 
so redesignated, is amended by striking ‘‘Sep-
tember 10, 2001’’ and inserting ‘‘May 5, 
2003’’. 
(E) Clause (i) of section 168(k)(2)(D), as 
so 
redesignated, 
is 
amended 
by 
striking 
‘‘$4,600’’ and inserting ‘‘$7,650’’. 
(F) Paragraph (4) of section 168(k) is 
amended to read as follows: 
‘‘(4) ELECTION
OF
30-PERCENT
BONUS
DEP-
RECATION.—If a taxpayer makes an election under
this subparagraph with respect to any class of prop-
erty for any taxable year—
‘‘(A) paragraph (1)(A) shall be applied by 
substituting ‘30 percent’ for ‘50 percent’ with 
respect to all property in such class placed in 
service during such taxable year, and 
‘‘(B) subparagraph (E)(i) shall be applied 
by substituting ‘$4,600’ for ‘$7,650’ with re-
spect to automobiles (if any) which are part of 
such class.’’
(h) EFFECTIVE DATES.—
(1) IN
GENERAL.—Except as otherwise pro-
vided in this subsection, the amendments made by 
this section shall apply to taxable years beginning 
after December 31, 2004. 
(2) BONUS DEPRECIATION.—The amendments 
made by subsection (g) shall apply to property 
placed in service after May 5, 2003, in taxable years 
ending after such date.
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