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RCP Congressional Bill Tracker - H.R. 2842

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H.R. 2842: Individual Rate Simplification Act of 2015

Title: Individual Rate Simplification Act of 2015

Introduced: Jun 18, 2015 (114th Congress)

Sponsor: Rep. Roger Williams [R-TX25]

Status: Referred to Committee - Referred to the House Committee on Ways and Means.

Summary: Individual Rate Simplification Act of 2015 This bill amends the Internal Revenue Code to revise individual income tax rates to establish a 20% rate on taxable income of $1 million or less and a 30% rate on taxable income over $1 million for taxable years beginning after December 31, 2015. The bill requires an annual inflation adjustment to the $1 million threshold amount in taxable years beginning after 2016.

Votes


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