Truth in Taxes Act

[AI summary unavailable — showing source text] Truth in Taxes Act - Title I: Adjustments in Income Taxes - Amends the Internal Revenue Code to require annual cost-of-living adjustments in all: (1) individual and corporate income tax rates; (2) personal exemption and the zero bracket amounts; (3) withholding allowances; and (4) minimum requirements for filing a return. Title II: Adjustments in Estate and Gift Taxes - Amends the Internal Revenue Code to require annual cost-of-living adjustments in: (1) the estate and gift tax rates; and (2) the unified credit against such taxes. Title III: Increase in Certain Excise Taxes - Requires the Secretary of the Treasury to make annual cost-of-living increases in the specified amount basis (as opposed to the percentage basis) rates for the: (1) gasoline tax; (2) tax on special fuels; (3) tax on distilled spirits, wine, and beer; and (4) tax on cigars, cigarettes, and cigarette papers and tubes.…