Legislative Resources for the Tax Increase Prevention and Reconciliation Act of 2005

President Bush has signed into law Tax Relief Extension Reconciliation Act of 2005.

Highlights Include:

• The bill extends for two years the 15 percent tax rate for dividends and capital gains.
• It extends through 2006 changes to the alternative minimum tax.
• It extends through 2009 a tax cut that gives small businesses a write off -- up to $100,000 -- for equipment and other depreciable assets.
• Among other provisions, the bill also eliminates, for 2010, the $100,000 income limitations on converting traditional IRAs to Roth IRAs.

Legislative History

H.R. 4297

House Report 109-304 | Conference Report 109-455

CRS Summary | CBO Cost Estimates

Major Congressional Actions

Presidential Signing Statement | Presidential Fact Sheet | Video of Bill Signing

[RJ]