Economic Growth and Tax Relief Act of 2001 - Amends the Internal Revenue Code, as of tax year 2001, to establish (in addition to existing brackets) a 12 percent individual tax bracket for each filing status. Caps taxable income levels for the 12 percent bracket at: (1) $12,000 for married individuals filing jointly; (2) $10,000 for heads of households; and (3) $6,000 for unmarried individuals or married individuals filing separately. Applies the current 15 percent bracket to income levels above the 12 percent caps but below current 15 percent caps.Prohibits minimum bracket amount inflation adjustments through tax year 2006. Revises the cost-of-living adjustment formula, as of tax year 2007.Provides, beginning in tax year 2002, for specified reductions in the 12, 28, 31, 36, and 39.6 percent individual (and estate) brackets. (Maintains the revised 15 percent bracket without further change.)Repeals mandatory reductions in the additional (three or more children) child tax credit and the earned income credit for taxpayers subject to the alternative minimum tax.
Mr. Thomas moved to table the motion to reconsider the vote.
Mr. Berry moved to reconsider the vote.
DEBATE - Pursuant to H. Res 83, the House is proceeding with one hour of debate on the amendment offered by Mr. Rangel.
DEBATE - The House proceeded with one hour of debate on H.R. 3 as amended, pursuant to the provisions of H. Res. 83.
Rule provides for consideration of H.R. 3 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. All points of order against consideration of the bill are waived. The amendment recommended by the Committee on Ways and Means now printed in the bill shall be considered as adopted. Measure will be considered read. A specified amendment is in order.
Considered under the provisions of rule H. Res. 83. (consideration: CR H761-809; text of measure as reported in House: CR H761-762)
Rule H. Res. 83 passed House.
Rules Committee Resolution H. Res. 83 Reported to House. Rule provides for consideration of H.R. 3 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. All points of order against consideration of the bill are waived. The amendment recommended by the Committee on Ways and Means now printed in the bill shall be considered as adopted. Measure will be considered read. A specified amendment is in order.
Placed on the Union Calendar, Calendar No. 6.
Reported (Amended) by the Committee on Ways and Means. H. Rept. 107-7.
Reported (Amended) by the Committee on Ways and Means. H. Rept. 107-7.
Ordered to be Reported (Amended) by the Yeas and Nays: 23 - 15.
Committee Consideration and Mark-up Session Held.
Referred to the House Committee on Ways and Means.
Committee Hearings Held Prior to Introduction (Feb 13, 2001).
Introduced in House
Introduced in House
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Source last updated: Apr 7, 2025. Consult Congress.gov for the current record.
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