Jobs and Growth Tax Relief Reconciliation Act of 2003

II. Marriage Penalty Relief

ØA. The standard deduction for married taxpayers filing joint returns is twice that of the standard deduction for single individuals for 2003 and 2004. Beginning in 2005, prior law is scheduled to return, which starts at 174 percent of the standard deduction for individuals, ramps up to twice the standard deduction again in 2010, and then the relief is eliminated in 2011 for budgetary constraints imposed when the 2001 Tax Act originally enacted this relief.

ØB. The size of the 15% regular income tax rate bracket for married couples filing joint returns is increased to twice the size of the 15% bracket for single individuals for 2003 and 2004 in an acceleration of prior enacted rate relief for married couples. Beginning in 2005, prior law is scheduled to return, which starts at 1.8 times the size of the 15% bracket for single individuals, ramps up to twice the size again, and then is eliminated in 2011 for budgetary reasons.