Grassley Announces Mark-up of the Tax RELIEF Act

The following press release was published by the United States Committee on Finance Ranking Member’s News on May 14, 2001. It is reproduced in full below.

Event: mark-up, chairman’s mark of the Restoring Earnings to Lift Individuals andEmpower Families (RELIEF) Act of 2001

Date/time: Tuesday, May 15, 2001, at 9 a.m.

Location: 216 Hart Senate Office Building

Description: President Bush and Congress have made tax relief a priority. Sen. Chuck Grassley,chairman of the Committee on Finance, has held a series of hearings to explore keyareas that need tax relief. Last Friday, Grassley released a bipartisan chairman’smark that builds upon the committee’s hearings and his widespread consultation withcommittee members about their priorities for tax relief. The chairman’s mark, calledthe Restoring Earnings to Lift Individuals and Empower Families (RELIEF) Act,:

< cuts individual income taxes across the board;

< expands the child credit to $1,000;

< provides relief from the marriage penalty;

< expands the earned income credit for working families;

< eases the death tax burden;

< allows Americans to save more money for retirement;

< makes it easier to save money for education;

< and addresses the alternative minimum tax.

Note: The following documents are available at http://finance.senate.gov/:

< Description of the Chairman’s Mark of the Restoring Earnings to Lift Individualsand Empower Families (RELIEF) Act of 2001 (under “legislation")

< 5-11-01 Summary of the Chairman’s Mark of the RELIEF Act (under “press office")

Source: Ranking Member’s News