Tax Legislation


Congress passes Economic and Security Recovery act of 2001

The bill aiming at boosting investment and helping the economy grow by instilling number of tax relief measures, passed the House by a vote of 216 to 214. We are well on our way down the road to economic recovery, boasted congressman Mike Pence of Indiana.


Featured Articles


Protecting the Internet from Taxes: The Internet Tax Nondiscrimination Act of 2001

Congress passed this bill to protect E-commerce from taxation by increasing the moratorium on it for another two years.

Victims of Terrorism Relief Act of 2001

Congress has acted quickly in the face of an insurmountable emotional tragedy engulfing the nation to provide tax relief to those affected most, “any individual who dies as a result of wounds or injury incurred as a result of the terrorist attacks against the United States on September 11, 2001.”

Securing America's Future Energy Act of 2001

House of Representatives approved Securing America’s Future Energy Act of 2001 (SAFE Act of 2001) yesterday with the house divided along party lines. SAFE act of 2001 was presented “To enhance energy conservation, research and development and to provide for security and diversity in the energy supply for the American people, and for other purposes.


Congress Approves Expansion of the Archer Medical Savings Accounts (MSAs)

The Bipartisan Patient Protection Act has made it possible for the Archer MSAs to be available to all taxpayers. Under the present law, they are only available to self-employed individuals.

Economic Growth and Tax Relief Reconciliation Act of 2001: Part I

The Economic Growth and Tax Relief Reconciliation Act of 2001 approved by the House of Representatives (Passed by the Yeas and Nays: 230 – 197) save American taxpayers $958 billion over the next 10 years, according to the non-partisan Joint Committee on Taxation.

Economic Growth and Tax Relief Reconciliation Act of 2001: Part II

The Economic Growth and Tax Relief Reconciliation Act of 2001 approved by the House of Representatives (Passed by the Yeas and Nays: 230 – 197) save American taxpayers $958 billion over the next 10 years, according to the non-partisan Joint Committee on Taxation.

Economic Growth and Tax Relief Reconciliation Act of 2001: Part III

The Economic Growth and Tax Relief Reconciliation Act of 2001 approved by the House of Representatives (Passed by the Yeas and Nays: 230 – 197) save American taxpayers $958 billion over the next 10 years, according to the non-partisan Joint Committee on Taxation.

Economic Growth and Tax Relief Reconciliation Act of 2001: Part IV

The Economic Growth and Tax Relief Reconciliation Act of 2001 approved by the House of Representatives (Passed by the Yeas and Nays: 230 – 197) save American taxpayers $958 billion over the next 10 years, according to the non-partisan Joint Committee on Taxation.

Economic Growth and Tax Relief Reconciliation Act of 2001: Part V

The Economic Growth and Tax Relief Reconciliation Act of 2001 approved by the House of Representatives (Passed by the Yeas and Nays: 230 – 197) save American taxpayers $958 billion over the next 10 years, according to the non-partisan Joint Committee on Taxation.

Economic Growth and Tax Relief Act of 2001

The bill provides immediate tax relief by reducing the current 15 percent tax rate on the first $12,000 of taxable income for couples ($6,000 for singles). A new 12 percent rate would apply retroactively to the beginning of 2001 and also for 2002.

The Marriage Penalty and Family Tax Relief Act of 2001

The bill was passed with a vote of 282 to 144 with 64 Democrats voting in favor of the plan. “Under this plan, a family of four would get an additional $1,000 in tax relief to spend or save however they wish; for new clothes, college savings, or a host of other items in a family budget,” said Chairman of the House Committee on Ways and Means congressman Bill Thomas of California.

Bush Signs A $1.35 Trillion Tax Cut Plan Into Law

It is always a good day when people get money for some reason or another, and most income tax payers will be seeing that day soon, due to a $1.35 trillion tax cut plan that President bush signed into law last Thursday.

Bush's Tax Cuts Beginning to Take Shape

On Feb 8th, President Bush submitted his tax cuts to Congress. Fearing an Economic slowdown creeping up on the American economy, he believes the only solution before him is to put money in the hands of consumers and entrepreneurs. He applauds the sound fiscal and financial policies of the 1980s...

Bush Submits Tax Cuts to Congress

On Feb 8th, President Bush submitted his tax cuts to Congress. Fearing an Economic slowdown creeping up on the American economy, he believes the only solution before him is to put money in the hands of consumers and entrepreneurs. He applauds the sound fiscal and financial policies of the 1980s...

Bush Tax Plan

Let’s just for a moment forget the great argument against Bush becoming the President, which is that he wants to spend all the budget surplus on tax breaks to the rich and save none for social security and Medicare. This might be true or it may not be. But even the closest people to Bush would agree...

End of the Year Legislation for 2000

On December 21st, 2000 President Bill Clinton Signed a $31.5 billion dollar "Community Renewal" bill (for details read the article here about what the bill encompasses) in addition to another bill to extend the pilot program for Medical Savings Accounts...

Is electronic commerce a tax haven?

Under the Internet Tax Freedom Act of 1998, Sec. 102 an Advisory Committee was established to present it’s views on how to handle the local, state, federal, and international taxation of Internet and it’s use. They have submitted their report recently and all in not well in Capitol Hill.

The "Community Renewal And New Markets Act Of 2000"

The House of Representatives has approved this bipartisan piece of legislation that will designate 40 "renewal communities" across the U.S. based on their poverty rate, unemployment rate, and median income, eight of which have to be in rural areas.