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CLS. RECORD ONLY:

DESCRIPTION OF POSSIBLE OPTIONS

TO INCREASE REVENUES

PREPARED FOR THE
COMMITTEE ON WAYS AND MEANS

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For sale by the Superintendent of Documents, U.S. Government Printing Office

Washington, DC 20402

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(3) Limitation on tax-liability reduction for

top-bracket individuals

4. Business meal and entertainment expenses

5. Employee benefits; Pensions; ESOPs..........

a. Employee benefits .....

(1) Limit the exclusion of employer-provid-

ed health coverage.

(2) Repeal the exclusion of employer-provid-

ed group-term life insurance.........

(3) Repeal the $5,000 exclusion for employ-

er-provided death benefits.

(4) Repeal the exclusion of employer-provid-

ed dependent care assistance....

(5) Repeal the exclusions for employee ben-

efits with respect to high-income em-

ployees.....

(6) Limit the exclusion for cafeteria plan

benefits .....

(7) Exclusion from income for meals and

lodging .....

b. Pensions ...

(1) Treat loans from qualified plans as dis-

tributions

(2) Redefine full funding limitation for pen-

sion plans....

(3) Definition of active participant for RA

rules .........

c. Repeal certain special rules relating to

ESOPs ....

6. Accounting provisions

a. Accrual accounting requirement for large

nonfarm businesses

b. LIFO method of inventory accounting

c. Accounting for long-term contracts

d. Repeal of vacation pay reserve....

e. Limitations on deductibility of advertising

costs .....

f. Elimination of deferral of income of coopera-

tives ....

g. Current accrual of market discount on bonds.

h. Installment sales ....

i. Amortization of intangibles........

j. Disallow interest deductions allocable to tax-

exempt installment sales of property to

State or local governments .....

k. Below-market loans to certain continuing

care facilities

7. Farming provisions

a. Accrual accounting requirement for large

farming businesses

b. Treat farm losses like real estate losses

under the passive loss rules.......

c. Increase cost recovery period for single pur-

pose agricultural structures

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