Summary: H.R.4053 — 105th Congress (1997-1998)All Information (Except Text)

There is one summary for H.R.4053. Bill summaries are authored by CRS.

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Introduced in House (06/11/1998)

Amends the Internal Revenue Code to repeal: (1) the overall limitation on itemized deductions; and (2) the phaseout of personal exemptions.

Increases, by 1.59 percent, an individual's taxes if the individual's adjusted gross income exceeds $75,000 (twice such amount on a joint return).