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The Tax Equity and Fiscal Responsibility Act of 1982 (Pub. L. 97–248), [1] also known as TEFRA, is a United States federal law that rescinded some of the effects of the Kemp-Roth Act passed the year before.
Amid growing concerns about the mounting federal debt, Reagan signed the Tax Equity and Fiscal Responsibility Act of 1982, [202] one of the eleven times Reagan raised taxes. [203] The bill doubled the federal cigarette tax , rescinded a portion of the corporate tax cuts from the 1981 tax bill, [ 204 ] and according to Paul Krugman , "a third of ...
After the Economic Recovery Tax Act of 1981 revenues fell by 6% in real terms. This promoted a tax increase that passed the House in late 1981 and the Senate in mid-1982 called the Tax Equity and Fiscal Responsibility Act of 1982. This act was an agreement between Reagan and the Congress that raised revenues for the following years. Following ...
1982 is a 2013 drama film written and directed by Tommy Oliver and starring Hill Harper. [1] It is Oliver's directorial debut. [2] The film is also semi-autobiographical. [3] The film marked the final appearance of actress and activist Ruby Dee before her death in 2014.
The accelerated depreciation changes were repealed by the Tax Equity and Fiscal Responsibility Act of 1982, and the 15% interest exclusion was repealed before it could take effect by the Deficit Reduction Act of 1984. The maximum expense in calculating credit was increased from $2,000 to $2,400 for one child and from $4000 to $4800 for at least ...
Since late last century and the early days of the web, providers of digital media like Netflix and Spotify have had a free pass when it comes to international taxes on films, video games and music ...
The Omnibus Budget Reconciliation Act of 1981 is the federal budget enacted by the 97th United States Congress and signed into law by U.S. President Ronald Reagan.The bill established federal expenditures for fiscal year 1982, which ran from 1 October 1981 through 30 September 1982.
September 3 – Speaker O'Neill and President Reagan settle one of the most unforgettable deals in US history (Tax Equity and Fiscal Responsibility Act), which would cut the ratio of spending of three to one and add more taxes. September 5 – Iowa paperboy Johnny Gosch is kidnapped. September 15 – The first edition of USA Today is published. [8]
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