Key Votes

S Amdt 527 - Family Tax Relief Amendment - Key Vote

National Key Votes

Joe Biden, Jr. voted Yea (Amendment Vote) on this legislation.

Read recent statements Joe Biden, Jr. 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.
See The Voting Record

Amendment - Introduced (Senate) -

Title: Family Tax Relief Amendment


Sponsors

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

Co-sponsors