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Deficit Reduction Act of 1984 (Pub. L. 98–369), also known as the DEFRA, was a federal law enacted in the United States in 1984. [1] Originally part of the stalled Tax Reform Act of 1983, it was adjusted and reintroduced as the Tax Reform Act of 1984. After passing in the House, it was merged with the Senate version into its final form.
The parking exemption was codified into law as part of the Deficit Reduction Act of 1984 when it was part of a new category of "working condition fringe benefits." Normally these kinds of fringe benefits referred to things that an employer provided, but would be tax-deductible if paid for by the employee.
The Deficit Reduction Act may refer to various pieces of United States legislation, including: Deficit Reduction Act of 1984 Gramm-Rudman-Hollings Deficit Reduction Act of 1985
Deficit Reduction Act of 1984; E. Equal Access Act; Extra-Long Staple Cotton Act of 1983; L. Land Remote-Sensing Commercialization Act of 1984; List of new members of ...
Deficit Reduction Act of 1984; S. Secondary Mortgage Market Enhancement Act; Shapiro–Stiglitz theory; T. Trade and Tariff Act of 1984 This page was last edited ...
For example, Keynes argued that the time for austerity (deficit reduction through tax increases and spending cuts) was during a booming economy, while increasing the deficit is the right policy prescription during a slump (recession). During the pandemic recession of 2020, several economists argued that deficits and debt reduction were not ...
The law was passed as part of the Deficit Reduction Act of 1984, P.L. 98-369, §§ 2701–2753, 98 Stat. 1175 (1984), and its competition requirements took effect on April 1, 1984. [1] The law defines a role for GAO to adjudicate "bid protests", which are claims that the government awarded a contract improperly. [4]
The term "budget sequestration" was first used to describe a section of the Gramm–Rudman–Hollings Deficit Reduction Act of 1985. The Acts aimed to cut the United States federal budget deficit. This deficit is the amount by which expenditures by the federal government exceed its revenues each year and was at the time the largest in history ...