Tax Reduction and Simplification Act of 1977

(colloquial)TRSANicknamesIntergovernmental Anti-recession Assistance ActEnacted bythe 95th United States CongressEffectiveMay 23, 1977CitationsPublic law95-30Statutes at Large91 Stat. 126CodificationTitles amended26 U.S.C.: Internal Revenue CodeLegislative history
  • Introduced in the House as H.R. 3477 by Al Ullman (D–OR) on February 16, 1977
  • Committee consideration by House Ways and Means, House Appropriations, Senate Finance
  • Passed the House on March 8, 1977 (282-131, in lieu of H.Res. 360)
  • Passed the Senate on April 29, 1977 (73-7)
  • Reported by the joint conference committee on May 6, 1977; agreed to by the House on May 16, 1977 (252-134) and by the Senate on May 16, 1977 (Agreed)
  • Signed into law by President Jimmy Carter on May 23, 1977

The Tax Reduction and Simplification Act of 1977 was passed by the 95th United States Congress and signed into law by President Jimmy Carter on May 23, 1977.[1]

It replaced the percentage standard deduction and minimum standard deduction with a single standard deduction of $3,200 (joint returns) and temporarily extended the general tax credit (maximum of $35/capita or 2% of $9,000 income) through 1978.

See also

References

  1. ^ Carter, Jimmy E. (May 23, 1977). "Tax and Drought Relief Bills: Remarks on Signing H.R. 3477 and S. 1279 Into Law - May 23, 1977". Internet Archive. Washington, D.C.: National Archives and Records Service. pp. 962–964.

External links

  • Carter, Jimmy E. (April 28, 1977). "Budget Deferrals: Message to the Congress - April 28, 1977". Internet Archive. Washington, D.C.: National Archives and Records Service. p. 739.
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