June 28,2000

Committee Approves Marriage Tax Penalty Relief

WASHINGTON -- The Senate Finance Committee today voted to approve legislation that would reduce taxes for millions of American families. The legislation, The Marriage Tax Relief Reconciliation Act of 2000, would cut taxes by $55 billion over five years. It was approved by a 10 - 5 vote.

"This bill is the centerpiece of our efforts to reduce the tax overpayment by America's working families. Not only does it reduce families' tax burden, it eliminates some of the most egregious examples of unfairness in the tax code today," Senate Finance Committee Chairman William V. Roth, Jr. stated. "It is time to divorce the marriage penalty from the tax code."

The legislation was passed as part of the budget resolution.