Distributional Effects of the Major Individual Income Tax Provisions of H.R. 3970
Publication Date: October 2007
Publisher(s): Tax Policy Center
Special Collection: John D. and Catherine T. MacArthur Foundation
Keywords: Tax Policy; Tax Distribution and Economic Trends; Taxes, the Budget, and the Economy; General Tax Policy
On October 25, 2007, Ways and Means Committee Chairman Charles Rangel (D-NY) unveiled H.R. 3970, The Tax Reduction and Reform Act of 2007, sweeping tax reform legislation that would provide for a revenue-neutral repeal of the individual alternative minimum tax (AMT). This paper describes the proposal and provides distribution tables that analyze the impact of the major individual income tax provisions in the bill.