Tax Cut With a Purpose Act of 2001

Committee on Finance. Hearings held.

Congressional Research Service

Official summary

Version 00 · Introduced in Senate · Jan 22, 2001

Tax Cut With a Purpose Act of 2001 - Amends the Internal Revenue Code (the Code) to make revisions under which: (1) individual income tax rates will be reduced; (2) in the case of a joint return, an additional deduction will be allowed; (3) subtitle B (Estate and Gift Taxes) of the Code will be repealed; (4) the definition of qualified expenses for purposes of the education individual retirement account will be expanded to include qualified elementary and secondary expenses and the maximum annual contribution permitted to such an account will be increased; (5) the child tax credit and its phase-out threshold will be increased; (6) a deduction for charitable giving will be allowed to nonitemizers, tax-free distributions from individual retirement accounts for charitable purposes will be allowed, and the deduction allowed to corporations for charitable contributions will be increased; and (7) the provisions terminating the credit for increasing research activities will be repealed.

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People & committees

Who introduced it

Sen. Gramm, Phil [R-TX] · R–TX

Committees

Finance Committee

5 cosponsorship records, including any withdrawals

Legislative record

Actions

A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.

Mar 15, 2001
Committee on Finance. Hearings held.
Mar 14, 2001
Committee on Finance. Hearings held.
Jan 22, 2001
Read twice and referred to the Committee on Finance.
Jan 22, 2001
Sponsor introductory remarks on measure. (CR S312-313)
Jan 22, 2001
Introduced in Senate

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in Senate · Jan 22, 2001 Formatted Text PDF

Related bills identified by Congress.gov

No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.

Source last updated: Aug 19, 2025. Consult Congress.gov for the current record.

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Neutral evidence review

Objective

Analyze S.35 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

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Discuss S.35, 107th Congress: Tax Cut With a Purpose Act of 2001

Official record: https://www.congress.gov/bill/107th-congress/senate-bill/35

Text version to examine: Introduced in Senate · 2001-01-22.

Official full text: https://www.congress.gov/107/bills/s35/BILLS-107s35is.htm

Imported record last updated by the source: 2025-08-19T17:28:15Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze S.35 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

Fairness and public impact

Progressive lens

Examine S.35 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

View full prompt & sources

Discuss S.35, 107th Congress: Tax Cut With a Purpose Act of 2001

Official record: https://www.congress.gov/bill/107th-congress/senate-bill/35

Text version to examine: Introduced in Senate · 2001-01-22.

Official full text: https://www.congress.gov/107/bills/s35/BILLS-107s35is.htm

Imported record last updated by the source: 2025-08-19T17:28:15Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.35 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine S.35 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

View full prompt & sources

Discuss S.35, 107th Congress: Tax Cut With a Purpose Act of 2001

Official record: https://www.congress.gov/bill/107th-congress/senate-bill/35

Text version to examine: Introduced in Senate · 2001-01-22.

Official full text: https://www.congress.gov/107/bills/s35/BILLS-107s35is.htm

Imported record last updated by the source: 2025-08-19T17:28:15Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.35 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine S.35 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss S.35, 107th Congress: Tax Cut With a Purpose Act of 2001

Official record: https://www.congress.gov/bill/107th-congress/senate-bill/35

Text version to examine: Introduced in Senate · 2001-01-22.

Official full text: https://www.congress.gov/107/bills/s35/BILLS-107s35is.htm

Imported record last updated by the source: 2025-08-19T17:28:15Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.35 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.