Tax Activity in the 108th Congress: An Overview

Publication Date: February 2004

Publisher: Library of Congress. Congressional Research Service

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Research Area: Banking and finance

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Abstract:

This report provides an overview of federal tax proposals considered, including those approved, by the 108th Congress to date. Thus far in this Congress three proposals have been enacted. H.R. 2, the Jobs and Growth Tax Relief and Reconciliation Act (JGTRRA) was signed into law (P.L. 108-27) in May 2003; tax reductions for armed services personnel (H.R. 1307, H.R. 1664, H.R. 878, S. 351, H.R. 3365) became law, P.L. 108-121; and the Medicare Prescription Drug and Modernization Act (H.R. 1, H.R. 2596, H.R. 2351) became law, P.L. 108-173. Other targeted proposals discussed in this report include tax incentives for charitable giving (H.R. 7, S. 476), child tax credit (H.R. 1308), energy (H.R. 6, S. 1149), estate tax repeal (H.R. 8), expiring tax provisions, (H.R. 3521, S. 1896), export provisions and related taxation of corporations (H.R. 1769, H.R. 2896, S. 970, S. 1475, S. 1637, S. 1688), Internet taxation (H.R. 49, S. 150), and pension tax policy (H.R. 743, H.R. 1000, H.R. 1776, H.R. 3108). This report will be regularly updated to reflect legislative developments.