Summary: H.R.7338 — 110th Congress (2007-2008)All Information (Except Text)

There is one summary for H.R.7338. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (12/10/2008)

Taxpayer Relief Act of 2008 - Reduces for 2008 income tax purposes: (1) the taxable income of a taxpayer by $125,000 ($250,000 in the case of a joint return); and (2) the rate of tax on taxable income in excess of $125,000 by 5%.