Summary: S.2200 — 97th Congress (1981-1982)All Information (Except Text)

There is one summary for S.2200. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (03/15/1982)

Flat Rate Tax Act of 1982 - Amends the Internal Revenue Code to repeal the income tax tables. Provides for an income tax rate of ten percent for all individuals, estates, and trusts.

Repeals all special tax deductions, credits, and exclusions from income for individuals. Amends the Economic Recovery Tax Act of 1981 to increase to $2,000 the deduction for personal exemptions.