House Passes 10 Percent Bracket Increase Extension

The House on May 13, 2004, by a vote of 344 to 76, approved the 10 Percent Tax Bracket Extension and Permanency Bill (H.R. 4275). The legislation would make the 10 percent bracket permanent, rather than expire in 2011, and preserve the current bracket limits, which otherwise would revert to lower limits in 2005. As with others in the series of single issue tax bills that the House has been passing over the last several weeks, this bill now moves to the Senate, where it is likely to be considered as part of a larger tax package rather than as a stand-alone, unfunded bill.

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Wolters Kluwer Tax and Accounting

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