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    <number>135</number>
    <updateDate>2023-01-15T21:34:11Z</updateDate>
    <updateDateIncludingText>2023-01-15T21:34:11Z</updateDateIncludingText>
    <originChamber>Senate</originChamber>
    <originChamberCode>S</originChamberCode>
    <type>S</type>
    <introducedDate>2003-01-09</introducedDate>
    <congress>108</congress>
    <committees>
      <item>
        <systemCode>ssfi00</systemCode>
        <name>Finance Committee</name>
        <chamber>Senate</chamber>
        <type>Standing</type>
        <activities>
          <item>
            <name>Referred to</name>
            <date>2003-01-09T22:40:44Z</date>
          </item>
        </activities>
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    <actions>
      <item>
        <actionDate>2003-01-09</actionDate>
        <committees>
          <item>
            <systemCode>ssfi00</systemCode>
            <name>Finance Committee</name>
          </item>
        </committees>
        <sourceSystem>
          <name>Senate</name>
        </sourceSystem>
        <text>Read twice and referred to the Committee on Finance.</text>
        <type>IntroReferral</type>
      </item>
      <item>
        <actionDate>2003-01-09</actionDate>
        <text>Introduced in Senate</text>
        <type>IntroReferral</type>
        <actionCode>10000</actionCode>
        <sourceSystem>
          <code>9</code>
          <name>Library of Congress</name>
        </sourceSystem>
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    <sponsors>
      <item>
        <bioguideId>D000596</bioguideId>
        <fullName>Sen. Dayton, Mark [D-MN]</fullName>
        <firstName>MARK</firstName>
        <lastName>DAYTON</lastName>
        <party>D</party>
        <state>MN</state>
        <isByRequest>N</isByRequest>
      </item>
    </sponsors>
    <policyArea>
      <name>Taxation</name>
    </policyArea>
    <subjects>
      <legislativeSubjects>
        <item>
          <name>Agriculture and Food</name>
        </item>
        <item>
          <name>Business records</name>
        </item>
        <item>
          <name>Commerce</name>
        </item>
        <item>
          <name>Corporation taxes</name>
        </item>
        <item>
          <name>Crime and Law Enforcement</name>
        </item>
        <item>
          <name>Estate tax</name>
        </item>
        <item>
          <name>Families</name>
        </item>
        <item>
          <name>Family enterprises</name>
        </item>
        <item>
          <name>Family farms</name>
        </item>
        <item>
          <name>Foreign tax credit</name>
        </item>
        <item>
          <name>Government Operations and Politics</name>
        </item>
        <item>
          <name>Government paperwork</name>
        </item>
        <item>
          <name>Income tax</name>
        </item>
        <item>
          <name>International Affairs</name>
        </item>
        <item>
          <name>Law</name>
        </item>
        <item>
          <name>Licenses</name>
        </item>
        <item>
          <name>Married people</name>
        </item>
        <item>
          <name>Minimum tax</name>
        </item>
        <item>
          <name>Partnerships</name>
        </item>
        <item>
          <name>Small business</name>
        </item>
        <item>
          <name>Tax credits</name>
        </item>
        <item>
          <name>Tax deductions</name>
        </item>
        <item>
          <name>Tax penalties</name>
        </item>
        <item>
          <name>Tax preparers</name>
        </item>
        <item>
          <name>Tax rates</name>
        </item>
        <item>
          <name>Tax returns</name>
        </item>
        <item>
          <name>Tax shelters</name>
        </item>
      </legislativeSubjects>
      <policyArea>
        <name>Taxation</name>
      </policyArea>
    </subjects>
    <summaries>
      <summary>
        <versionCode>00</versionCode>
        <actionDate>2003-01-09</actionDate>
        <actionDesc>Introduced in Senate</actionDesc>
        <updateDate>2006-11-28T17:35:40Z</updateDate>
        <text><![CDATA[Dayton Fair Tax Cut Act - Amends the Internal Revenue Code to: (1) expand the 10 percent bracket; (2) eliminate scheduled decreases in the higher brackets; (3) eliminate the repeal of the estate tax by repealing subtitle A (Repeal of Estate and Generation-Skipping Transfer Taxes) of the Economic Growth and Tax Reconciliation Act of 2001), provide for a $4 million estate tax exemption, and provide for a complete estate tax deduction for family-owned businesses; (4) set forth rules for concerning the economic substance doctrine, increase certain penalties, and impose additional requirements with respect to tax shelters; (5) tax as domestic corporations foreign corporations created through inversion transactions; (6) accelerate the $1,000 child tax credit; (7) provide marriage penalty relief; and (8) extend the special alternative minimum tax rule applicable to years 2000, 2001, 2002, and 2003 to years 2003, 2004, and 2005.]]></text>
      </summary>
    </summaries>
    <title>Dayton Fair Tax Cut Act</title>
    <titles>
      <item>
        <titleType>Display Title</titleType>
        <title>Dayton Fair Tax Cut Act</title>
      </item>
      <item>
        <titleType>Official Title as Introduced</titleType>
        <title>A bill to amend the Internal Revenue Code of 1986 to expand the 10 percent tax bracket, to freeze the rate of the top tax brackets, to provide an immediate $4,000,000 estate tax exemption and complete estate tax exclusion for family-owned businesses while eliminating the repeal of the estate tax, and for other purposes.</title>
        <billTextVersionName>Introduced in Senate</billTextVersionName>
        <billTextVersionCode>IS</billTextVersionCode>
      </item>
      <item>
        <titleType>Short Titles as Introduced</titleType>
        <title>Dayton Fair Tax Cut Act</title>
      </item>
    </titles>
    <textVersions>
      <item>
        <type>Introduced in Senate</type>
        <date>2003-01-09T05:00:00Z</date>
        <formats/>
      </item>
    </textVersions>
    <latestAction>
      <actionDate>2003-01-09</actionDate>
      <text>Read twice and referred to the Committee on Finance.</text>
    </latestAction>
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    <dc:language>EN</dc:language>
    <dc:rights>Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.</dc:rights>
    <dc:contributor>Congressional Research Service, Library of Congress</dc:contributor>
    <dc:description>This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.</dc:description>
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