[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 7 Introduced in Senate (IS)]







109th CONGRESS
  1st Session
                                  S. 7

 To increase American jobs and economic growth by making permanent the 
  individual income tax rate reductions, the reduction in the capital 
 gains and dividend tax rates, and the repeal of the estate, gift, and 
                  generation-skipping transfer taxes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            January 24, 2005

    Mr. Kyl (for himself, Mr. Frist, Mr. DeMint, and Mr. McConnell) 
introduced the following bill; which was read twice and referred to the 
                          Committee on Finance

_______________________________________________________________________

                                 A BILL


 
 To increase American jobs and economic growth by making permanent the 
  individual income tax rate reductions, the reduction in the capital 
 gains and dividend tax rates, and the repeal of the estate, gift, and 
                  generation-skipping transfer taxes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Jobs and Growth Tax Relief Act of 
2005''.

SEC. 2. REDUCTIONS IN INDIVIDUAL INCOME TAX RATES MADE PERMANENT.

    Section 901 of the Economic Growth and Tax Relief and 
Reconciliation Act of 2001 (relating to sunset provisions) shall not 
apply to title I of such Act (relating to individual income tax rate 
reductions).

SEC. 3. REDUCTIONS IN INDIVIDUAL CAPITAL GAINS AND DIVIDENDS TAX RATE 
              MADE PERMANENT.

    Section 303 of the Jobs and Growth Tax Relief Reconciliation Act of 
2003 (relating to sunset of title) is repealed.

SEC. 4. PERMANENT REPEAL OF ESTATE TAXES.

    Section 901 of the Economic Growth and Tax Relief Reconciliation 
Act of 2001 (relating to sunset provisions) shall not apply to title V 
of such Act (relating to estate, gift, and generation-skipping transfer 
tax provision), and such section 901 shall be applied without regard to 
subsection (a)(2) or any other reference to estates, gifts, or 
transfers.
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