HR 4487 · 97th Congress · Taxation
Revenue Recovery Act of 1981
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to House Committee on Ways and Means.(1981-09-15)
Plain Language Summary
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Revenue Recovery Act of 1981 - Amends the Internal Revenue Code, as amended by the Economic Recovery Tax Act of 1981, to repeal the 25 percent reduction in individual income tax rates. Provides a reduction in such rates of seven and one-half percent in 1982, five percent in 1983, and two and one-half percent in 1984. Requires a five percent withholding reduction on July 1, 1982 and July 1, 1983 to correspond with tax rate reductions.…
Summarized by Claude AI · Non-partisan · For informational purposes only