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Key Votes

S Amdt 527 - Family Tax Relief Amendment - Key Vote

National Key Votes

Sam Brownback voted Nay (Amendment Vote) on this Amendment.

Read statements Sam Brownback made in this general time period.

Stages

Family

Issues

Stage Details

Amendment - Amendment Rejected (Senate) (38-61) - (Key vote)

Title: Family Tax Relief Amendment

Vote Smart's Synopsis:

Vote to pass an amendment to provide tax cuts for family savings, create a refundable child tax credit, and provide tax incentives for education and training, among other purposes.

Highlights:
  • Allocates a child credit for each taxable year of either $350 or $500 if the amount is put into a KIDSAVE account.
  • Makes available a Hope Scholarship Credit for certain individuals enrolled in higher education.
  • Allows a deduction on the amount of interest paid by the taxpayer on any qualified education loan under $2,500 for each taxable year.
  • Requires the trustee of a KIDSAVE account to make reports about contributions, distributions, and other such information to the Secretary of the Treasury and to the account holder.
  • Allows a deduction amount equal to 30 percent of the taxpayer's qualified 3-year gain if a taxpayer has a net capital gain.
  • Creates a tax credit for first-time homebuyers in the District of Columbia.
  • Adjusts the minimum tax exemption amounts for taxpayers other than corporations.
  • Adds welfare-to-work incentives such as modifying the amount of wages taken into account.
  • Allocates $750 million for each calendar year from 1998-2002 for national school construction.
Amendment - Introduced (Senate) -

Title: Family Tax Relief Amendment

Sponsors

  • Thomas A. 'Tom' Daschle (SD - ) (Out Of Office)

Co-sponsors

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