Health

Social security and railroad retirement

Exclusion of untaxed social security and railroad retirement benefits
Veterans' benefits and services

TABLE 1.-TAX EXPENDITURE ESTIMATES BY BUDGET FUNCTION, FISCAL YEARS 1994-1998-Continued

[In billions of dollars]

Function

General purpose fiscal assistance

Exclusion of interest on public purpose State and local government debt
Deduction of nonbusiness State and local government income and personal
property taxes

Tax credit for corporations with possessions source income
Interest

....

Corporations

1994 1995 1996 1997

1998

4.5

4.7

1994

10.5

25.7

1.3

1.3

1.4 1.4

1.5

Total
1994-98

Deferral of interest on savings bonds

1Tax expenditure of less than $50 million.

2 In addition, the 5.4-cents-per-gallon exemption from excise tax for alcohol fuels results in a reduction in excise tax receipts, net of income tax effect, of $0.5 billion per year in fiscal year 1994, and $0.6
billion per year for fiscal years 1995 through 1998.

3 The figures in the table show the effect of the supplemental health insurance component of the EITC on receipts. The increase in outlays is $0.7 billion in each year for 1994, 1995 and 1996, and $0.8
billion in each year for 1997 and 1998.

The figures in the table show the effect of the EITC on receipts. The increase in outlays is: $10.9 billion in 1994, $13.5 billion in 1995, $14.1 billion in 1996, $15.1 billion in 1997, and $15.6 billion in
1998.

5 The figures in the table show the effect of the supplemental young child credit component of the EITC on receipts. The increase in outlays is: $0.3 billion in 1994, $0.4 billion in 1995, and $0.4 billion
in each year from 1996 through 1998.

Note.-Details may not add to totals due to rounding.

Source: Joint Committee on Taxation.

PART VII. LEGISLATIVE HISTORIES OF
FEDERAL TAX LEGISLATION, 1954-92

A. Procedural History

1. PRINCIPAL TAX ACTS 1954-80: PUBLIC LAW
NUMBERS1

Title

Date

Internal Revenue Code of 1954
Tax Rate Extension Act of 1955
Tax Rate Extension Act of 1956
Tax Rate Extension Act of 1957
Tax Rate Extension Act of 1958
Technical Amendments Act of 1958
Life Insurance Company Income Tax Act June 25, 1959
of 1959.

August 16, 1954
March 30, 1955
March 29, 1956
March 29, 1957
June 30, 1958
September 2, 1958

....................

Tax Rate Extension Act of 1959
Tax Rate Extension Act of 1960
Tax Rate Extension Act of 1961
Tax Rate Extension Act of 1962
The Revenue Act of 1962
Tax Rate Extension Act of 1963
The Revenue Act of 1964
Excise Tax Rate Extension Act of 1964
Interest Equalization Tax Act of 1964
Interest Equalization Tax Act of 1965
Tax Adjustment Act of 1966
Federal Tax Lien Act of 1966
Foreign Investors Tax Act of 1966 ......
Interest Equalization Tax Act of 1967
Revenue and Expenditure Control Act of
1968.

1977.

Revenue Act of 1978.

Interest Equalization Tax Act of 1969
Tax Reform Act of 1969

Revenue Act of 1971

....

....

June 30, 1959
June 30, 1960
June 30, 1961
June 28, 1962
October 16, 1962
June 29, 1963
February 26, 1964
June 30, 1964
September 2, 1964
October 9, 1965
March 15, 1966
November 2, 1966
November 13, 1966
July 31, 1967
June 20, 1968

Tax Reduction Act of 1975
Tax Reform Act of 1976
Tax Reduction and Simplification Act of May 23, 1977

November 26, 1969
December 30, 1969
December 10, 1971
March 29, 1975
October 4, 1976

November 6, 1978 Crude Oil Windfall Profit Tax Act of April 2, 1980

1980.

Public Law No.

Public Law 83-591
Public Law 84-18
Public Law 84-458
Public Law 85-12
Public Law 85-475
Public Law 85-866
Public Law 86-69

Public Law 86-75
Public Law 86-564
Public Law 87-72
Public Law 87-508
Public Law 87-834
Public Law 88-52
Public Law 88-272
Public Law 88-348
Public Law 88-563
Public Law 89-243
Public Law 89-368
Public Law 89-719
Public Law 89-809
Public Law 90-59
Public Law 90-364

Public Law 91-128
Public Law 91-172
Public Law 92-178
Public Law 94-12
Public Law 94-455
Public Law 95-30

Public Law 95-600
Public Law 96-223

1Source: "Taxes: Significant Federal Tax Acts, 1954-1990," Congressional Research Service, Louis Alan Talley, April 20, 1990, rev. March 4, 1991.

2. Principal Tax Acts 1981-92: Procedural History

THE ECONOMIC RECOVERY ACT OF 1981 (ERTA)

H.R. 4242

July 23, 1981

MR. ROSTENKOWSKI

To amend the Internal Revenue Code of 1954 to encourage economic growth through reductions in individual income tax rates, the expensing of depreciable property, incentives for small businesses, and incentives for savings, and for other purposes.

July 23, 1981. Ordered reported.

July 24, 1981. Reported to House. H.Rept. 97-201.

July 28, 1981. Hearing before Rules Committee.

July 28, 1981. H.Res. 198, providing modified open rule, 2 hours debate reported to House. H.Rept. 97-205.

July 29, 1981. H.Res. 198 adopted by House by a record vote of 280 yeas, 150 nays.

July 29, 1981. Passed the House amended by a record vote of 323 yeas, 107 nays. Rejected a motion to recommit the bill to the Committee on Ways and Means. Agreed to an amendment in the nature of a substitute made in order by the rule, the text of H.R. 4260 by a record vote of 238 yeas, 195 nays. Rejected an amendment in the nature of a substitute made in order by the rule, the text of H.R. 4269 by a record vote of 144 yeas, 288 nays.

July 31, 1981. Passed the Senate amended striking all after the enacting clause and inserting in lieu thereof the text of H.J.Res. 266, as amended; by a voice vote.

July 31, 1981. Senate insisted on its amendment and requested a conference with the House. Appointed as conferees: Senators Dole, Packwood, Roth, Danforth, Long, Byrd, and Bentsen.

July 31, 1981. House disagreed to the Senate amendment and agreed to a conference, as well as a motion to instruct the conferees to insist on sec. 311 of the bill as passed by the House relating to the amounts which persons, who are active participants in employer-sponsored pension plans, may deduct for contributions to IRA's. Appointed as conferees: Representatives Rostenkowski, Gibbons, Pickle, Rangel, Stark, Conable, Duncan, and Archer.

Aug. 1, 1981. House conference report filed. H.Rept. 97-215.
Aug. 1, 1981. Senate conference report filed. S.Rept. 97-176.

Aug. 3, 1981. Senate agreed to the conference report by a record vote of

67 yeas, 8 nays.

Aug. 4, 1981. House agreed to the conference report by a record vote of 282 yeas, 95 nays.

Aug. 13, 1981. Approved. Public Law 97-34.

(See P.L. 97-424 (H.R. 6211) for related action.) (See P.L. 97-448 (H.R. 6056) for related action.)

THE TAX EQUITY AND FISCAL RESPONSIBILITY ACT OF 1982 (TEFRA)

H.R. 4961

Nov. 13, 1981

Mr. Stark, Mr. Duncan of Tennessee, Mr. Holland, Mr.
Fowler, Mr. Russo, Mr. Matsui, Mr. Heftel of HawAIL,
Mr. Guarini, Mr. Schulze, Mr. Vander Jagt, Mr. FORD
OF TENNESSEE, Mr. Bailey of Pennsylvania, and Mr. Ba-
FALIS

To make miscellaneous changes in the tax laws.

(As introduced, embodies H.R. 2397, 2860, 3262, 4408, and 4908.)

Oct. 19, 1981. Hearing held on subject matter.

Nov. 13, 1981. Referred to Subcommittee on Select Revenue Measures.
Nov. 13, 1981. Subcommittee on Select Revenue Measures reported to full
Committee.

Nov. 19, 1981. Ordered reported.

Dec. 14, 1981. Reported to House amended to include provisions of H.R.
4942. H.Rept. 97-404.

Dec. 15, 1981. Passed the House by a voice vote. (Brought up under
suspension of the rules.)

July 12, 1982. Reported to Senate with amendments. S. Rept. 97-494, parts 1 & 2.

July 22, 1982. Passed Senate with amendments by a record vote of 50 yeas, 47 nays.

July 28, 1982. Senate insisted on its amendments and requested a conference with the House. Appointed as conferees: Senators Dole, Packwood, Roth, Danforth, Long, Harry F. Byrd, Jr., and Bentsen; on title IV only (excluding sec. 406(e)), Senators Packwood, Kassebaum, and Cannon.

July 28, 1982. House disagreed to the Senate amendments and agreed to a conference with the Senate. Appointed as conferees: Representatives Rostenkowski, Gibbons, Pickle, Rangel, Stark, Conable, Duncan, and Archer for the entire bill and the Senate amendments and modifications committed to conference, with the exception of subtitle B (Medicaid) of title I and title IV (Airport and Airway System Development), except for sec. 406(e) of that title, and with the exception of sec. 395 of the Senate amendments and modifications committed to conference; Representatives Dingell, Waxman, Scheuer, Broyhill, and Madigan solely for the consideration of subtitle B of title I (Medicaid), subtitle C of title I (Utilization and Quality Control Peer Review), such parts of subtitle A (Medicare) of title I that relate to amendments to the Supplementary Medical Insurance Program authorized under title XVIII of the Social Security Act, and sec. 395 of the Senate amendments and modifications committed to conference; Representatives Mineta, Anderson, Levitas, Oberstar, Clausen, Snyder, and Hammerschmidt solely for the consideration of title IV, with the exception of sections 406(e) and 407(b), of the Senate amendments and modifications committed to conference; and Representatives Fuqua, Glickman, and Winn solely for the consideration of sec. 407(b) of title IV of the Senate amendments and modifications committed to conference.