Search Form
Now choose a category »

Key Votes

S 1429 - Taxpayer Refund Act of 1999 - Key Vote

National Key Votes

John McCain III voted Yea (Passage) on this Legislation.

Read statements John McCain III made in this general time period.

Stages

Family

Issues

Stage Details

Legislation - Bill Passed (Senate) (57-43) - (Key vote)

Title: Taxpayer Refund Act of 1999

Vote Smart's Synopsis:

Vote to pass a bill that provides $792 billion in tax cuts over a ten-year period.

Highlights:
  • Reduces the 15 percent income tax bracket to 14 percent in 2001.
  • Increases individual retirement account (IRA) contributions to $5,000 annually by 2003.
  • Exempts the first $1,000 of capital gains from individual income taxes starting in 2006.
  • Raises estate tax exemptions from $1 million to $1.5 million in 2007.
  • Reduces the maximum estate and gift tax rates from 55 percent to 50 percent in 2001.
  • Reduces income taxes on married couples by increasing their standard deduction to double the amount allowed for individuals.
  • Increases deductions for health insurance costs and long-term care.
  • Increases eligible income limits for student education loan interest deductions.
Legislation - Introduced (Senate) -

Title: Taxpayer Refund Act of 1999

Sponsors

  • William V. Roth Jr. (DE - R) (Out Of Office)
Skip to top
Back to top