Newsbytes
April 2004
Treasury
Secretary Snow Statement on House Passage to
Make Marriage Penalty Tax Relief Permanent
Press
Release from US Treasury Website
Today
April 28, 2004 the House of Representatives acted
on a measure that is both sound fiscal policy and
solid common sense. Their vote to prevent a tax
increase on more than 28 million married couples
is one on which the Senate should quickly follow
suit. Making the marriage penalty tax relief permanent
will benefit married couples of all income levels,
especially those in the lower brackets. Our tax
code should not penalize marriage. Hard-working
married couples should be able to keep more of their
own money to help pay for their children’s
education, invest for retirement, and spend as they
see fit. This action brings us one step closer to
fairness and simplicity in our tax code.
H.R.
4181 permanently extends the increased standard
deduction and the 15-percent individual income tax
bracket expansion for married taxpayers filing joint
returns.
