S.2200 - Flat Rate Tax Act of 198297th Congress (1981-1982)
|Sponsor:||Sen. Helms, Jesse [R-NC] (Introduced 03/15/1982)|
|Committees:||Senate - Finance|
|Latest Action:||03/17/1982 Committee on Finance requested executive comment from OMB; Treasury Department.|
This bill has the status Introduced
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Summary: S.2200 — 97th Congress (1981-1982)All Bill Information (Except Text)
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.