Wednesday, April 28, 2004
With proposed legislation pending on Capitol Hill to make permanent the 2001 Tax Act’s marriage penalty relief provisions, the Tax Foundation has released a timely study profiling the couples who would benefit from that relief. They conclude that the failure to enact the pending legislation would have the biggest impact on lower-income couples. For example:
Income Range…………..% Increase in Tax Burden If No Marriage Penalty Relief
$10,000-$15,000……………..563%
$15,000-$20,000………………..69%
$20,000-$25,000………………..21%
2 responses to “Tax Foundation Releases Data on Marriage Penalty”
Marriage penalty, what marriage penalty
James Edward Maule, from the Villanova School of Law, posts a great review of exactly how Congress “abolished” the marriage penalty with recent legislation, and opens up a window on why every time Congress acts to “fix” the tax code,…
Marriage penalty, what marriage penalty
James Edward Maule, from the Villanova School of Law, posts a great review of exactly how Congress “abolished” the marriage penalty with recent legislation, and opens up a window on why every time Congress acts to “fix” the tax code, the result is more…