Economic Stimulus Act of 2001 - Amends the Internal Revenue Code, as of tax year 2001, to reduce the 15 percent tax rate to ten percent for: (1) joint filers with taxable income below $20,000; (2) heads of household with taxable income below $16,000; and (3) single or married persons filing separately with taxable income below $10,000.
Provides a payroll tax credit ($500 maximum) for qualifying taxpayers with no tax liability as of tax year 2001.
Actions
Mar 19, 2001
Read twice and referred to the Committee on Finance.
Mar 19, 2001
Sponsor introductory remarks on measure. (CR S2477)