H.R. 2842 · 114th Congress
Individual Rate Simplification Act of 2015
- Stage
- In committee
- Sponsor
- Roger Williams
- Introduced
- 2015-06-18
- Latest action
- 2015-06-18 · Introduced in House
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.