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Official portrait of Rep. Steiger, William A. [R-WI-6]

Rep. Steiger, William A. [R-WI-6]

United States · Official source

Records

511 records where Rep. Steiger, William A. [R-WI-6] is listed as a sponsor, author, or other actor. Search with topics and years

Bill· HRH.R. 14286 (95th)referred

Government Accountability Act

United States · United States Congress · 11 October 1978

Requires the President to submit to Congress a biannual report on the management of the executive branch. Requires the Director of the Office of Management and Budget to provide an evaluative report on Federal programs to the President to be included with the President's report.

Bill· HRH.R. 14271 (95th)referred

A bill to amend titles II and XVI of the Social Security Act to provide that an individual receiving child's insurance benefits on the basis of blindness or other disability shall not lose his or her entitlement to such benefits by reason of marriage, if such marriage is to a recipient of supplemental security income benefits.

United States · United States Congress · 10 October 1978

Amends Title II (Old-Age, Survivors, and Disability Insurance) (OASDI) and Title XVI (Supplemental Security Income) (SSI) of the Social Security Act to provide: (1) that in the case of a child who has attained the age of 18, is entitled to child's insurance benefits under Title II, and who marries an individual receiving benefits under Title XVI, such child's entitlement to benefits under Title II shall not be terminated by reason of such marriage; and (2) that OASDI benefits shall be excluded in determining the income of the child's spouse for purposes of determining SSI eligibility.

Bill· HRH.R. 14220 (95th)referred

A bill to extend temporarily the authority of the Secretary of the Treasury to waive the imposition of countervailing duties.

United States · United States Congress · 3 October 1978

Amends the Tariff Act of 1930 by extending the authority of the Secretary of the Treasury to waive the imposition of countervailing duties. Requires the President, upon the recommendation of the Special Representative for Trade Negotiations, to determine and notify Congress that the Multilateral Trade Negotiations have been substantially completed and that international agreement(s) governing the use of subsidies: (1) have been completed; (2) would be jeopardized by a failure to extend the Secretary's authority; (3) adequately protect United States trading interests; and (4) contain effective provisions for resolutions of disputes.

Resolution· HCONRESH.Con.Res. 728 (95th)referred

A resolution to oppose the implementation and enforcement by the President of a program of wage and price controls not specifically authorized by statute.

United States · United States Congress · 29 September 1978

Declares that the Congress opposes the President's promulgation of wage, price, or other economic stabilization standards enforced by a direct or implied threat that compliance with such standards by unions, industries, or other private economic groups will be materially considered in the exercise of administrative discretion by Federal agencies.

Bill· HRH.R. 14147 (95th)referred

Capital Availability for Higher Education Act

United States · United States Congress · 21 September 1978

Capital Availability for Higher Education Act - Amends the Higher Education Act of 1965 to: (1) raise from $2,500 to $3,500 the limit per academic year on federally insured loans to undergraduate students; (2) raise from $7,500 to $10,500 the total amount of such loans per undergraduate student; and (3) remove the $15,000 loan ceiling for graduate students. Authorizes eligible lenders to elect to have such loans collected by the Federal Government through the Secretary of the Treasury and the Commissioner of Education. Establishes guidelines and requirements for such program, including the deduction and withholding of wages by employers of student borrowers. Establishes the Guaranteed Student Loan Fund in the United States Treasury to repay funds withheld from the wages borrowers to lenders. Establishes an advisory panel to consider questions relating to such federally insured higher education loans.

Resolution· HRESH.Res. 1361 (95th)referred

A resolution to amend the rules of the House of Representatives.

United States · United States Congress · 20 September 1978

Amends the Rules of the House of Representatives to require that remarks of Members made on the floor of the House or submitted for inclusion in the Congressional Record, including revisions and extensions, be relevant to governmental matters.

Bill· HRH.R. 14009 (95th)referred

Government Accountability Act

United States · United States Congress · 7 September 1978

Requires the President to submit to Congress a biannual report on the management of the executive branch. Requires the Director of the Office of Management and Budget to provide an evaluative report on Federal programs to the President to be included with the President's report.

Bill· HRH.R. 13927 (95th)referred

A bill to amend title II of the Social Security Act to provide that renewal commissions, received by a retired insurance agent from life insurance policies which were sold by him before his retirement, shall not be taken into account in determining his net earnings from self-employment for purposes of the earnings test.

United States · United States Congress · 17 August 1978

Amends Title II (Old-Age, Survivors, and Disability Insurance) of the Social Security Act to disregard renewal commissions received by an insurance salesman from life insurance policies which such salesman sold before reaching age 65, for purposes of determining eligibility based on income for social security benefits.

Bill· HRH.R. 13885 (95th)referred

Government Accountability Act

United States · United States Congress · 15 August 1978

Requires the President to submit to Congress a biannual report on the management of the executive branch. Requires the Director of the Office of Management and Budget to provide an evaluative report on Federal programs to the President to be included with the President's report.

Bill· HRH.R. 13730 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to clarify that a custodial account for regulated investment company stock described in section 403(b)(7) that permits an employee to withdraw funds prior to retirement may be treated as an annuity contract described in section 403(b)(1).

United States · United States Congress · 3 August 1978

Amends the Internal Revenue Code to permit employees of tax-exempt organizations and State or local educational institutions who invest annuity funds in mutual funds to withdraw such funds before retirement without adversely affecting the tax status of their retirement plan.

Bill· HRH.R. 13723 (95th)referred

Government Accountability Act

United States · United States Congress · 3 August 1978

Requires the President to submit to Congress a biannual report on the management of the executive branch. Requires the Director of the Office of Management and Budget to provide an evaluative report on Federal programs to the President to be included with the President's report.

Bill· HRH.R. 13711 (95th)referred

Spending Limitation and Tax Reduction Act

United States · United States Congress · 2 August 1978

Spending Limitation and Tax Reduction Act - Title I: Spending Limitation - Places limits on increases in Congressional spending for fiscal years 1980, 1981, and 1982. Title II: Tax Reduction - Amends the Internal Revenue Code to reduce individual, estate and trust, and corporate income tax rates in 1979 and 1980, and to establish a permanent reduction in such rates for 1981 and succeeding years. Increases the surtax exemption for corporations to $100,000.

Bill· HRH.R. 13619 (95th)reported

Individual Retirement Plan Technical Changes Act

United States · United States Congress · 27 July 1978

Individual Retirement Plan Technical Changes Act - Amends the Internal Revenue Code to extend the deadline for making contributions to an individual retirement account (IRA) to the date on which the taxpayer is required to file a tax return (including extensions) for the following year. Permits a taxpayer who makes a contribution to an IRA in excess of prescribed limits to apply such excess amount to a subsequent taxable year, for purposes of the income tax deduction. Allows an individual, or spouse of such individual, who participates in a tax exempt employer pension plan for any part of a taxable year to claim an income tax deduction for contributions to an IRA made in those months in which the individual or spouse was not an active participant in the employer plan. Permits an individual whose total contributions to an IRA do not exceed $1,750 to withdraw excess amounts before the close of the taxable year without penalty. Permits such individual to withdraw excess contributions without regard to the $1,750 limitation, if the contributions were made in reasonable reliance on erroneous information supplied by an employer. Requires that an individual retirement annuity contract provide that premiums not be fixed, that the annual premium not exceed $1,500, and that any refund of premiums be applied to the payment of future premiums or the purchase of additional benefits. Permits a participant in a tax-exempt employer pension plan to transfer less than the entire amount distributed from such a plan to an individual retirement account (IRA). Allows an individual who receives all or part of a lump sum distribution from an employer plan in the form of stock or other property to sell all or part of the property and rollover the proceeds to an IRA. Permits a surviving spouse of an employer plan participant to rollover distributions from such a plan into an IRA. Authorizes the Secretary of the Treasury to waive penalties on excess IRA accumulations if such accumulations result from a reasonable error by the taxpayer. Removes the limitation on the amount of an excess contribution which may be corrected through a distribution prior to the date for filing a tax return. Eliminates the separate individual reporting requirements for certain IRA's to which no special individual retirement plan tax is applicable for the taxable year.

Bill· HRH.R. 13555 (95th)referred

Investment Incentive Act

United States · United States Congress · 20 July 1978

Investment Incentive Act - Amends the Internal Revenue Code to restore part of the pre-1969 tax treatment of capital gains by repealing the capital gains item of tax preference for the minimum tax; lowering the corporate alternative tax to 25 percent of net capital gain; and lowering the alternative individual tax to 25 percent of net capital gain.

Bill· HRH.R. 13488 (95th)referred

Foreign Earned Income Act

United States · United States Congress · 14 July 1978

Foreign Earned Income Act - Amends the Internal Revenue Code to limit the tax exclusion for income earned outside the United States to such income as is earned in a "qualified foreign country." Defines "qualified foreign country." Limits the amount of excludable income to $20,000 for United States citizens who establish bona fide residency in a qualified foreign country for at least one taxable year and for United States citizens or resident aliens who work in such a country during a period of 18 consecutive months. Limits the excludable amount to $25,000 for United States citizens who establish bona fide residency in a qualified foreign country for an uninterrupted period of three consecutive years. Treats presence on certain North Sea equipment used in exploring natural resources as presence in a qualified foreign country. Repeals the requirement that income earned outside the United States must be received in the country in which it is earned. Allows a tax deduction for United States citizens or residents working abroad for the sum of the qualified cost-of-living differential (difference between the cost-of-living in a particular foreign country and the Washington metropolitan area), housing, schooling, and home leave travel expenses. Limits the amount of the deduction to the amount earned abroad by an individual reduced by the amount excludable under the foreign earned income exclusion plus the amount of the exclusion for meals and lodging provided by an employer and the amount of specified allocable deductions. Specifies that the deductions for such living expenses be taken from gross income, thus permitting taxpayers who do not itemize deductions to claim such expenses as deductions in computing adjusted gross income. Sets forth definitions for qualified housing, schooling, and home leave travel expenses and rules for computing allowable deductions for such expenses. Permits an individual to maintain a separate household for spouse and dependents and still claim tax deductions for living expenses, if the living conditions in which such individual works are dangerous, unhealthy, or otherwise adverse. Increases the time and amount limitations for moving expenses for the relocation of a taxpayer at a new principal place of work outside the United States. Permits deductions for the moving expenses of a taxpayer due to retirement or for the expenses of a survivor upon the death of such taxpayer. Includes the storage fees incurred for the duration of a foreign assignment within the expenses qualifying for the moving expense deduction. Excludes from gross income meals and lodging furnished to the taxpayer, a spouse, and dependents by the employer outside the United States in a "camp style" or communal setting. Provides taxpayers working abroad the same extended repurchase time limitations as are presently provided servicemen stationed overseas for the nonrecognition of gain on the sale or exchange of a principal residence. Directs the Secretary of the Treasury to submit a report to Congress indicating the number and characteristics of individuals claiming tax benefits under this Act, the economic impact of such benefits, and the manner in which such benefits have been administered.

Bill· HRH.R. 13346 (95th)referred

A bill to amend title II of the Social Security Act to make it clear that every beneficiary is entitled to apply the monthly earnings test (under the amendment made by section 303 of the Social Security Amendments of 1977) in at least one year after 1977.

United States · United States Congress · 29 June 1978

Amends Title II (Old-Age, Survivors, and Disability Insurance) of the Social Security Act to provide that no part of the excess earnings of an individual shall be charged to any month if such month is in the taxable year in which occurs the first month after December 1977 that is both a month in which the individual is entitled to benefits and is unemployed.

Bill· HRH.R. 13260 (95th)referred

Product Liability Self-Insurance Act

United States · United States Congress · 22 June 1978

Product Liability Self-Insurance Act - Amends the Internal Revenue Code to allow a deduction to any business enterprise engaged in the manufacture, importation, distribution, lease, or sale of any product for contributions to its product liability loss reserve account and for amounts paid to a captive insurer (wholly or partially-owned by the taxpayer) for product liability insurance. Specifies the amount a taxpayer may deduct, based upon the ability of such taxpayer to obtain insurance through conventional channels. Disallows any deductions for product liability losses which do not exceed the sum of the total reserve funds in the taxpayer's account at the beginning of the taxable year plus the amount of deductible payments made by the taxpayer to the account during such year. Imposes penalties for the improper use of product liability reserve funds. Treats amounts accumulated in the taxpayer's product liability loss reserve account as amounts accumulated for reasonably anticipated business needs, for purposes of avoiding the accumulated earnings tax.

Bill· HRH.R. 13158 (95th)referred

Investment Incentive Act

United States · United States Congress · 15 June 1978

Investment Incentive Act - Amends the Internal Revenue Code to restore part of the pre-1969 tax treatment of capital gains by repealing the capital gains item of tax preference for the minimum tax; lowering the corporate alternative tax to 25 percent of net capital gain; and lowering the alternative individual tax to 25 percent of net capital gain.

Bill· HRH.R. 13077 (95th)referred

Investment Incentive Act

United States · United States Congress · 9 June 1978

Investment Incentive Act - Amends the Internal Revenue Code to restore part of the pre-1969 tax treatment of capital gains by repealing the capital gains item of tax preference for the minimum tax; lowering the corporate alternative tax to 25 percent of net capital gain; and lowering the alternative individual tax to 25 percent of net capital gain.

Bill· HRH.R. 13076 (95th)referred

Investment Incentive Act

United States · United States Congress · 9 June 1978

Investment Incentive Act - Amends the Internal Revenue Code to restore part of the pre-1969 tax treatment of capital gains by repealing the capital gains item of tax preference for the minimum tax; lowering the corporate alternative tax to 25 percent of net capital gain; and lowering the alternative individual tax to 25 percent of net capital gain.

Bill· HRH.R. 13075 (95th)referred

Investment Incentive Act

United States · United States Congress · 9 June 1978

Investment Incentive Act - Amends the Internal Revenue Code to restore part of the pre-1969 tax treatment of capital gains by repealing the capital gains item of tax preference for the minimum tax; lowering the corporate alternative tax to 25 percent of net capital gain; and lowering the alternative individual tax to 25 percent of net capital gain.

Bill· HRH.R. 12920 (95th)referred

Amateur Sports Act

United States · United States Congress · 1 June 1978

Amateur Sports Act - Title I: Declaration of Policy - Makes findings and states that the policy of Congress is to promote amateur athletics and protect the right of amateur athletes to participate in athletic competition. Title II: Olympic Committee Reorganization - Amends the corporate charter of the Olympic Committee to (1) provide for a principal place of business of the United States Olympic Committee (Corporation); (2) set forth the objectives and purposes of the Corporation; (3) set forth the powers of the Corporation; (4) provide reasonable representation for specified individuals and organizations in establishing and maintaining provisions for the governance and conduct of its affairs; and (5) subject to civil liability any person who uses an Olympic designation without authority to promote a private financial interest. Permits contributors or suppliers of goods or services to use the name of the United States Olympic Committee or its designation to advertise that such goods or services have been furnished to, approved, or selected by the Corporation. Requires the Corporation to establish in its constitution and bylaws provisions for the resolution of disputes involving the opportunity of an amateur athlete or other specified individuals to participate in sanctioned athletic competitions. Authorizes the Corporation to recognize as a national governing body any amateur sports organization (but only one for each sport) which submits an application for recognition and complies with eligibility requirements. Sets forth such eligibility requirements. Sets forth the duties and powers of a national governing body and the requirements which an amateur sports organization must meet to hold an athletic competition or sponsor athletes in competition and be sanctioned by a national governing body. Grants to the Corporation the power of review over the actions of any national governing body and invests a United States district court with jurisdiction to enjoin any action of a national governing body inconsistent with the terms of the Corporate charter. Sets forth procedures for the Corporation in (1) processing a complaint against a national governing body by an individual athlete or an amateur sports organization; (2) revoking recognition of a national governing body; and (3) replacing an incumbent national governing body. Provides for arbitration of a determination of the Corporation. Authorizes the Secretary of Commerce to lend financial assistance to the Corporation in developing amateur athletics in the United States. Authorizes appropriations for carrying out the work of the national governing bodies. Directs the Secretary to conduct a feasibility study to determine the most appropriate means of providing funding to the Corporation for the construction and operation of training centers and sports medicine research facilities.

Bill· HRH.R. 12907 (95th)referred

Investment Incentive Act

United States · United States Congress · 31 May 1978

Investment Incentive Act - Amends the Internal Revenue Code to restore part of the pre-1969 tax treatment of capital gains by repealing the capital gains item of tax preference for the minimum tax; lowering the corporate alternative tax to 25 percent of net capital gain; and lowering the alternative individual tax to 25 percent of net capital gain.

Bill· HRH.R. 12801 (95th)referred

Tax Consistency Act

United States · United States Congress · 19 May 1978

Tax Consistency Act - Amends the Internal Revenue Code to reduce corporate tax rates to 16 percent of the first $25,000 of taxable income and 18 percent of so much of the taxable income that exceeds $25,000. Reduces the surtax to 22 percent of the amount that exceeds the surtax exemption. Establishes a permanent $50,000 surtax exemption for all corporations except certain controlled corporations. Repeals the investment tax credit. Eliminates the tax exemption for (1) interest earned on industrial development bonds issued to governmental units and tax-exempt organizations; (2) interest on bonds issued for the construction of specified facilities and for industrial parks; and (3) interest earned on certain small issues of industrial development bonds. Eliminates the declining balance and sum of the years-digit methods of computing allowable depreciation expense. Limits deductions for such depreciation to amounts determined by a replacement cost straight line method, as formulated by this Act, or by any other consistent method which does not yield an amount which exceeds the total amount allowed under the replacement cost straight line method during the first two-thirds of the property's useful life. Repeals the allowance for deductions with respect to the amortization of any certified pollution control facility based on a period of 60 months. Repeals the allowance for deductions of intangible drilling and development costs for oil and gas wells. States that the last taxable year in which financial institutions may use the percentage method of computing additions to bad debt reserves shall be the taxable year beginning before 1979 instead of 1988 as is currently provided. Repeals the existing percentages allowed for depletion of mines, wells, and specified natural deposits, and the percentages allowed for oil and gas wells. Specifies those treatment processes for mineral deposits which are considered mining, and those which are not so considered, for the purposes of the percentage depletion allowance. Repeals special capital gains treatment of income from certain coal and iron ore operations. Repeals the allowance for special deductions for domestic corporations which do business in North, Central, or South America, or in the West Indies, and derive a certain percentage of their gross income from outside the United States. Repeals provisions allowing special tax treatment for Domestic International Sales Corporations (DISC). Repeals provisions of the Mercent Marine Act of 1936 which permit domestic shipping companies to exclude from gross income amounts deposited in the capital construction fund for the purpose of building new vessels. Establishes a tax credit for contributions to an employee stock ownership plan. Limits such credit to one half of one percent to the taxpayer's liability for the taxable year. Sets forth requirements for the establishment of such plans.

Bill· HRH.R. 12756 (95th)referred

Capital Availability for Higher Education Amendments

United States · United States Congress · 17 May 1978

Capital Availability for Higher Education Amendments - Amends the Higher Education Act of 1965 to raise the limit from $2,500 to $3,500 on federally insured loans per academic year to undergraduate students, and to raise from $7,500 to $10,500 the total amount of such loans per undergraduate student. Authorizes eligible lenders to elect to have such loans collected by the Federal Government through the Secretary of the Treasury and the Commissioner of Education. Establishes guidelines and requirements for such program, including the deduction and withholding of wages by employers of student borrowers. Establishes the Guaranteed Student Loan Fund in the United States Treasury to repay to lenders funds withheld from the wages of borrowers. Establishes an advisory panel to consider questions relating to such federally insured higher education loans.

Bill· HRH.R. 12561 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to allow a retirement savings deduction for persons covered by certain pension plans.

United States · United States Congress · 4 May 1978

Amends the Internal Revenue Code to allow a deduction from the gross income of an employee for cash contributions made for his benefit to: (1) a qualified pension, profit sharing, or stock bonus plan; (2) a qualified annuity plan; (3) a qualified bond purchase plan; or (4) an individual retirement account. Limits such deduction to ten percent of the employee's compensation for the taxable year or $1,000, whichever is less.

Bill· HRH.R. 12532 (95th)referred

A bill to amend the Internal Revenue Code of 1954 to provide that the use of the zero bracket amount will not reduce the benefits of income averaging.

United States · United States Congress · 3 May 1978

Amends the Internal Revenue Code to provide that the zero bracket amount shall be subtracted from an individual's taxable income when using income averaging in order to tax the averaged income in the same manner, and to the same extent, it was taxed when the standard deduction was used in tax computations.

Bill· HRH.R. 12491 (95th)referred

Social Security Financing Amendments

United States · United States Congress · 2 May 1978

Social Security Financing Amendments - Title I: Provisions to Improve the Financing of the Old Age-Survivors, and Disability Insurance Program - Amends the Internal Revenue Code to increase the rate of tax established by the Social Security Financing Amendments of 1977 on wages received by the employees and paid by employers, and on the earnings of the self employed, for the purposes of Title II (Old-Age, Survivors, and Disability Insurance) of the Social Security Act. Maintains at the level established by the Social Security Financing Amendments of 1977 the rate of tax on employment and self employment income for purposes of Title XVIII (Medicare) of the Social Security Act. Increases, to specified levels, the allocations of wages and self- employment income from the Treasury to the Federal Disability Insurance Trust Fund. Repeals the increases in the contribution and benefit base enacted by the Social Security Amendments of 1977. Establishes measures to maintain balances in the Federal Old-Age and Survivor Insurance Trust Fund, and the Federal Hospital Insurance Trust Fund, sufficient to make the payments required of such funds by means of loans among such funds. Title II: Improvement of Long-Range Financing Through a Gradual Increase in Retirement Age - Increases, from 65 to 68 years, the retirement age at which an individual may receive old-age, wife's, husband's, widow's or widower's insurance benefits without a reduction because such individual became eligible for such benefits before reaching retirement age. Sets forth a schedule for such increase in steps to occur between December, 1999 and March, 2011. Title III: Working Spouse's Benefit and Elimination of Gender-Based Distinctions Under the Old-Age, Survivors, and Disability Insurance Program - Establishes a "working spouse's benefit" under Title II. Provides that any individual who receives both old-age benefits or a disability insurance benefit and wife's, husband's, widow's, widower's, or mother's insurance benefits shall be entitled to such working spouse benefit. States that such benefit shall be a percentage of the smaller of the two benefits to which the recipient was entitled. Limits the receipt of such benefits to one member of a married couple when both members are eligible. Amends Title II to eliminate gender-based distinctions in awarding benefits under such Title. Equalizes treatment of fathers, husbands, divorced husbands, surviving divorced husbands, and widowers with the treatment of their female counterparts under the Old-Age, Survivors, and Disability Insurance Program. Eliminates marriage or remarriage of a benefit recipient as a factor in terminating or reducing benefits. Title IV: Coverage of Federal Employees Under the Old-Age, Survivors, and Disability Insurance Program - Amends Title II of the Social Security Act and the Internal Revenue Code to include Federal employees within the coverage of the Social Security system. Directs the Secretary of Health, Education, and Welfare in consultation with the Civil Service Commission to carry out a detailed study of how best to coordinate the benefits of the civil service retirement system and the benefits of the old-age, survivors, and disability insurance system, with the objective of developing for Federal employees a combined program of retirement, disability, and related benefits which will assure that such employers are no worse off, comparing their benefits under the combined program with the benefits they would receive under the Federal staff retirement systems at the time of their coverage under the old-age, survivors, and disability insurance system pursuant to the amendments made by this Act. Directs the Secretary to carry out a study of how best to coordinate the Medicare program and the program established by the Federal Employees Health Benefits Act, with the objective of developing for Federal employees a combined program of health insurance benefits to accompany the retirement and disability program developed by this Act. Title V: Liberalization and Eventual Repeal of Earnings Limitation for Individuals Age 65 and Over - Increases the minimum amount which an individual may earn before suffering a loss or reduction of benefits under the Old-Age, Survivors, and Disability Insurance program to $625 for each month of the taxable year ending after 1980 and before 1982. Removes the earning limitation for taxable years beginning after January 1, 1982.

Bill· HRH.R. 12429 (95th)referred

Product Liability Self-Insurance Act

United States · United States Congress · 27 April 1978

Product Liability Self-Insurance Act - Amends the Internal Revenue Code to allow a deduction to any business enterprise engaged in the manufacture, importation, distribution, lease, or sale of any product for contributions to its product liability loss reserve account and for amounts paid to a captive insurer (wholly or partially-owned by the taxpayer) for product liability insurance. Specifies the amount a taxpayer may deduct, based upon the ability of such taxpayer to obtain insurance through conventional channels. Disallows any deductions for product liability losses which do not exceed the sum of the total reserve funds in the taxpayer's account at the beginning of the taxable year plus the amount of deductible payments made by the taxpayer to the account during such year. Imposes penalties for the improper use of product liability reserve funds. Treats amounts accumulated in the taxpayer's product liability loss reserve account as amounts accumulated for reasonably anticipated business needs, for purposes of avoiding the accumulated earnings tax.

Bill· HRH.R. 12386 (95th)referred

Anti-Inflation Tax Reduction and Reform Act

United States · United States Congress · 26 April 1978

Anti-Inflation Tax Reduction and Reform Act - Amends the Internal Revenue Code to provide cost-of-living adjustments for the individual income tax rates and withholding tables.

Bill· HRH.R. 12368 (95th)referred

Social Security Financing Amendments

United States · United States Congress · 25 April 1978

Social Security Financing Amendments - Title I: Provisions to Improve the Financing of the Old Age-Survivors, and Disability Insurance Program - Amends the Internal Revenue Code to increase the rate of tax established by the Social Security Financing Amendments of 1977 on wages received by the employees and paid by employers, and on the earnings of the self employed, for the purposes of Title II (Old-Age, Survivors, and Disability Insurance) of the Social Security Act. Maintains at the level established by the Social Security Financing Amendments of 1977 the rate of tax on employment and self employment income for purposes of Title XVIII (Medicare) of the Social Security Act. Increases, to specified levels, the allocations of wages and self- employment income from the Treasury to the Federal Disability Insurance Trust Fund. Repeals the increases in the contribution and benefit base enacted by the Social Security Amendments of 1977. Establishes measures to maintain balances in the Federal Old-Age and Survivor Insurance Trust Fund, and the Federal Hospital Insurance Trust Fund, sufficient to make the payments required of such funds by means of loans among such funds. Title II: Improvement of Long-Range Financing Through a Gradual Increase in Retirement Age - Increases, from 65 to 68 years, the retirement age at which an individual may receive old-age, wife's, husband's, widow's or widower's insurance benefits without a reduction because such individual became eligible for such benefits before reaching retirement age. Sets forth a schedule for such increase in steps to occur between December, 1999 and March, 2011. Title III: Working Spouse's Benefit and Elimination of Gender-Based Distinctions Under the Old-Age, Survivors, and Disability Insurance Program - Establishes a "working spouse's benefit" under Title II. Provides that any individual who receives both old-age benefits or a disability insurance benefit and wife's, husband's, widow's, widower's, or mother's insurance benefits shall be entitled to such working spouse benefit. States that such benefit shall be a percentage of the smaller of the two benefits to which the recipient was entitled. Limits the receipt of such benefits to one member of a married couple when both members are eligible. Amends Title II to eliminate gender-based distinctions in awarding benefits under such Title. Equalizes treatment of fathers, husbands, divorced husbands, surviving divorced husbands, and widowers with the treatment of their female counterparts under the Old-Age, Survivors, and Disability Insurance Program. Eliminates marriage or remarriage of a benefit recipient as a factor in terminating or reducing benefits. Title IV: Coverage of Federal Employees Under the Old-Age, Survivors, and Disability Insurance Program - Amends Title II of the Social Security Act and the Internal Revenue Code to include Federal employees within the coverage of the Social Security system. Directs the Secretary of Health, Education, and Welfare in consultation with the Civil Service Commission to carry out a detailed study of how best to coordinate the benefits of the civil service retirement system and the benefits of the old-age, survivors, and disability insurance system, with the objective of developing for Federal employees a combined program of retirement, disability, and related benefits which will assure that such employers are no worse off, comparing their benefits under the combined program with the benefits they would receive under the Federal staff retirement systems at the time of their coverage under the old-age, survivors, and disability insurance system pursuant to the amendments made by this Act. Directs the Secretary to carry out a study of how best to coordinate the Medicare program and the program established by the Federal Employees Health Benefits Act, with the objective of developing for Federal employees a combined program of health insurance benefits to accompany the retirement and disability program developed by this Act. Title V: Liberalization and Eventual Repeal of Earnings Limitation for Individuals Age 65 and Over - Increases the minimum amount which an individual may earn before suffering a loss or reduction of benefits under the Old-Age, Survivors, and Disability Insurance program to $625 for each month of the taxable year ending after 1980 and before 1982. Removes the earning limitation for taxable years beginning after January 1, 1982.