H.R. 3838 · 99th Congress · enacted
Tax Reform Act of 1986
Became Public Law No: 99-514.
Latest official action 1986-10-22 · Enacted
The bill, briefly
(Measure passed House, amended) Tax Reform Act of 1985 - Enacts the Internal Revenue Code of 1985. Title I: Individual Income Tax Provisions - Subtitle A: Rate Reductions; Increase in Standard Deduction and Personal Exemptions - Sets forth income tax rates for: (1) married individuals filing joint returns and surviving spouses; (2) heads of households; (3) unmarried individuals; and (4) married individuals filing separate returns and estates and trusts. Allows for cost-of-living adjustments in such tax rates. Allows for a basic standard deduction of: (1) $4,800 for married individuals filing joint returns and surviving spouses; (2) $4,200 for heads of households; (3) $2,950 for single individuals; and (4) $2,400 for married individuals filing separate returns. Allows an additional standard deduction of $600 for the elderly or blind. Provides for cost-of-living adjustments to such amounts. Limits the amount of allowable itemized deductions to the amount in excess of $500 multiplied by the number of personal exemptions taken. Increases the personal exemption amount to $2,000. Provides for cost-of-living adjustments to such amount. Repeals the additional personal exemption for the elderly or blind. Sets forth minimum income levels for individuals required to file income tax returns. Subtitle B: Provisions Relating to Tax Credits - Increases the amount of the earned income tax cre…
Congressional Research Service · 1985-12-17
Who reported lobbying on this bill?
Amount spent specifically on this bill: not disclosed
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Politicians behind the bill
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20 of 20 source cosponsor records retrieved; only current officials and unwithdrawn sponsorships appear.
PAC donors to the listed sponsors
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What happened after enactment?
Dated agency-reported implementation and uptake measures are shown with their scope. They do not by themselves establish causal success. If no evidence is listed, the outcome is not established.