United States · United States Congress · 5 October 1978
Inflation Reduction and Jobs Protection Act - Amends the Fair Labor Standards Act of 1938 to postpone (1) the minimum wage of $2.90 and (2) modification of the formula for determining the amount of wages which an employer is deemed to have paid to a tipped employee from the year beginning January 1, 1979, to the year beginning January 1, 1980. Postpones a subsequent increase in the minimum wage and further modification of such formula by one year.
United States · United States Congress · 28 September 1978
Expanded Employee Stock Ownership Act - Amends the Internal Revenue Code to allow an investment tax credit equal to the greater of two percent of the cost of qualified depreciable investment property or one percent of the total compensation paid to employees who participate in a special employee stock ownership plan for corporations which establish such a stock ownership plan. Limits the credit to $50,000 of the taxpayer's tax liability plus 95 percent of the excess of $50,000 with a carryback of three years and a carryover of seven years. Sets forth requirements for the establishment of a special employee stock ownership plan, including requirements that: (1) employer securities transferred to a plan be equal in amount to the credit claimed; (2) at least one-half of such employer securities qualify as newly issued employer securities; (3) the plan provide for the allocation of employer securities to employee-participants on the basis of income; and (4) the plan provide each participant with a nonforfeitable right to stock allocated to his account. Excludes employee stock ownership plan annuities and certain other pension plan annuities (that are currently includible) from inclusion in the gross estate for purposes of the estate tax. Qualifies employee stock ownership plan participants for the retirement savings income tax deduction. Exempts plan participants from providing a put option contract for the sale of supposed stock on a future day for any securities distributed from a plan which permits such participants to receive cash instead of a distribution of securities. Grants an income tax deduction to employers for the payment of dividends with respect to employer securities and permits a deduction for certain bequests and charitable contributions to an employee stock ownership plan. Eliminates contributions made to an employee stock ownership plan as an item of tax preference for purposes of the minimum tax.
United States · United States Congress · 26 September 1978
Amends the Internal Revenue Code to provide that refunds or repayments with respect to regulated oil prices shall be subject to the rules for computing the tax where a taxpayer restores a substantial amount held under claim of right.
United States · United States Congress · 21 September 1978
Amends the Internal Revenue Code to limit the application of the attribution of ownership rules to a trust or estate which terminates its interest in a corporation through a stock redemption, for purposes of treating the proceeds from the stock redemption as capital gain.
United States · United States Congress · 19 September 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.
United States · United States Congress · 14 September 1978
Amends the Internal Revenue Code to revise the definition of a foreign convention, the rules regarding limits on subsistence expenses at such conventions, and the substantiation of such expenses for purposes of claiming an income tax deduction.
United States · United States Congress · 15 August 1978
Expanded Employee Stock Ownership Act - Amends the Internal Revenue Code to allow an investment tax credit equal to the greater of two percent of the cost of qualified depreciable investment property or one percent of the total compensation paid to employees who participate in a special employee stock ownership plan for corporations which establish such a stock ownership plan. Limits the credit to $50,000 of the taxpayer's tax liability plus 95 percent of the excess of $50,000 with a carryback of three years and a carryover of seven years. Sets forth requirements for the establishment of a special employee stock ownership plan, including requirements that: (1) employer securities transferred to a plan be equal in amount to the credit claimed; (2) at least one-half of such employer securities qualify as newly issued employer securities; (3) the plan provide for the allocation of employer securities to employee-participants on the basis of income; and (4) the plan provide each participant with a nonforfeitable right to stock allocated to his account. Excludes employee stock ownership plan annuities and certain other pension plan annuities (that are currently includible) from inclusion in the gross estate for purposes of the estate tax. Qualifies employee stock ownership plan participants for the retirement savings income tax deduction. Exempts plan participants from providing a put option contract for the sale of supposed stock on a future day for any securities distributed from a plan which permits such participants to receive cash instead of a distribution of securities. Grants an income tax deduction to employers for the payment of dividends with respect to employer securities and permits a deduction for certain bequests and charitable contributions to an employee stock ownership plan. Eliminates contributions made to an employee stock ownership plan as an item of tax preference for purposes of the minimum tax.
United States · United States Congress · 4 August 1978
Sugar Stabilization Act - Title I: International Sugar Agreement - Authorizes the President to limit the entry, or withdrawal from warehouse, for consumption in the United States, of sugar from any country not a member of the International Sugar Organization, and otherwise to regulate foreign trade in sugar to implement the International Sugar Agreement. Establishes civil penalties for the violation of such regulations. Requires the President to submit to Congress an annual report on the Agreement. Title II: Domestic Sugar Program - Directs the Secretary of Agriculture to determine, during the July preceding the commencement of each (October 1 to September 30) sugar supply year, the amount of sugar needed to meet the requirements of consumers in the United States. Sets the price of 16 cents per pound of sugar, raw value, delivered to New York (including freight and the applicable tariff and fees) as the price objective for the sugar supply year 1978. Establishes formulae for determining the price objectives for succeeding sugar supply years. Authorizes the Secretary: (1) to establish, and to adjust, a quota for the entry of sugar from foreign countries; and (2) to impose an import fee in order to attain the established price objective. Prohibits filling of the established quota by direct-consumption sugar, except in specified circumstances. Permits the Secretary to suspend such quota and fees under specified circumstances. Authorizes the Secretary to impose a quota on the entry of sugar-containing products. Prohibits: (1) the entry of sugar, liquid sugar, or sugar-containing products after the import quotas have been filled; (2) the importation of certain sugar or liquid sugar into the Virgin Islands in excess of 100 pounds annually; and (3) the exportation of certain sugar from the United States. Regulates the exportation of sugar. Sets forth items to which the sugar quota shall not apply. Title III: General Provisions - Requires every producer of sugar beets and sugarcane for sugar to pay a specified minimum wage to each person employed on the farm in the production, cultivation, and harvesting of such crops. Establishes a civil cause of action against any producer who fails to pay minimum wages, allowing the employees affected to collect the amount of unpaid wages, plus an equal amount as liquidated damages. Prohibits a producer from discharging or discriminating against any employee who has participated in any way in an investigation or proceeding against the producer under this title. Prohibits a producer from charging farm employees any amount in excess of the reasonable cost of furnishing goods or services customarily furnished to employees engaged in the production. Directs the Secretary to issue regulations to assure that producers furnish workmen's compensation insurance to such employees. Requires persons engaged in the manufacture, marketing, transport, or industrial use of sugar to furnish the Secretary with specified information. Prohibits investment in sugar by officials engaged in the administration of this Act, and establishes penalties for the violation of such prohibition. Authorizes the President to suspend the operation of Title II of this Act in a national emergency. Authorizes the Secretary: (1) to conduct surveys and investigations to carry out this Act; and (2) to announce a daily spot price for raw sugar in specified circumstances. Terminates the authority of the Secretary under this Act on September 30, 1983.
United States · United States Congress · 31 July 1978
Amends the Tariff Schedules of the United States to suspend the custom duty on mixtures of mashed or macerated hot red peppers and salt until June 30, 1981.
United States · United States Congress · 18 July 1978
Provides that where two or more Members of the House of Representatives pay the basic pay of an individual from the clerk-hire allowance of each such Member, such individual shall be considered to be on the payroll of only one such Member for purposes of determining the number of individuals employed by such Members under the clerk-hire allowance. Requires such Members to designate who shall be considered the employer for the month involved and to report such designation to the Office of Finance.
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.
United States · United States Congress · 13 July 1978
Amends the Freedom of Information Act to give courts jurisdiction to enjoin Federal agencies from withholding agency records, even if such records pertain to national defense or foreign policy and are properly classified pursuant to an Executive order, if the court finds no reasonable basis to support such Executive order. Extends the time period an agency may use to determine whether or not such agency will comply with a request for information.
United States · United States Congress · 12 July 1978
Amends the Internal Revenue Code to allow public utilities to exclude from gross income, as contributions to capital, all amounts received in aid of construction of electric energy, steam, or gas facilities.
United States · United States Congress · 29 June 1978
Amends the Endangered Species Act of 1973 to state that no Federal public works project begun after January 1, 1967, and before the date on which a species is listed pursuant to such Act as endangered shall be deemed to jeopardize the continued existence of the species or to result in the destruction of its critical habitat so long as such project is on or directly affects the navigable waters of the United States. Provides that if this Act applies to a public works project, the Secretary of the Interior shall take action to minimize the adverse effects on the species caused by the project.
United States · United States Congress · 28 June 1978
Amends the Internal Revenue Code to exempt from the withholding of tax requirements for nonresident aliens commissions paid by a ship supplies to a nonresident alien employed by another nonresident alien, a foreign partnership, or a foreign corporation if such commissions derive from the sale of supplies used in the operation of ships.
United States · United States Congress · 21 June 1978
Amends rule 27 of the Rules of the House of Representatives to repeal the requirement that all motions to suspend the rules be seconded by tellers if demanded.
United States · United States Congress · 21 June 1978
Expresses Congressional objections to proposed Department of Energy amendments which would increase entitlements paid to refiners of foreign crude oil by domestic refiners on the basis that such amendments are premature and unjust, and are being proposed in a manner which does not give Congress an opportunity to approve or disapprove them.
United States · United States Congress · 8 June 1978
Amends the Internal Revenue Code to direct the Secretary of the Treasury to issue regulations corresponding to the principles set forth in a certain private letter ruling relating to the exclusion from gross income of amounts deferred by participants in public deferred compensation plans.
United States · United States Congress · 8 June 1978
Prohibits Congress from making any appropriations in excess of total estimated revenues in any fiscal year beginning with fiscal year 1980. Provides an exception to such prohibition in time of war or national emergency. Prohibits any increase in the national debt. Requires the repayment of the national debt during the next 100 years.
United States · United States Congress · 8 June 1978
Repeals the requirement, under the Social Security Amendments of 1977, that the amount of monthly benefits payable to a spouse or surviving spouse under Title II (Old-Age, Survivors, and Disability Insurance) of the Social Security Act be reduced by the amount such spouse or surviving spouse receives monthly payments from a Federal or State pension fund.
United States · United States Congress · 16 May 1978
Two-Step Budget Process Act - Title I: Amendments to the Congressional Budget Act of 1974 - Requires that the contents of the first concurrent resolution of the budget be separated into two titles. Prescribes a two-step process for the consideration of amendments to such budget resolution by which amendments to the first title must be considered and disposed of prior to the consideration of amendments to the second title. Title II: Miscellaneous Provisions - States that such amendments are enacted as an exercise of Congressional rulemaking power.
United States · United States Congress · 11 May 1978
Amends the Internal Revenue code to exclude from gross income statutory subsistence allowances received by State police officers between 1969 and 1978.
United States · United States Congress · 11 May 1978
Expresses Congressional objections to proposed Department of Energy amendments which would increase entitlements paid to refiners of foreign crude oil by domestic refiners on the basis that such amendments are premature and unjust, and are being proposed in a manner which does not give Congress an opportunity to approve or disapprove them.
United States · United States Congress · 10 May 1978
Amends the Internal Revenue code to exclude from gross income statutory subsistence allowances received by State police officers between 1969 and 1978.
United States · United States Congress · 8 May 1978
Amends the Internal Revenue Code to exempt from taxation annuity contracts purchased by the Uniformed Services University of the Health Sciences for a civilian faculty or staff member of such University.
United States · United States Congress · 4 May 1978
Miscellaneous Revenue Act - Amends the Internal Revenue Code to permit a corporation which had not been classified as a personal holding company for the three years preceeding the taxable year to treat a dividend paid after the close of the taxable year, but prior to March 15 of the following year, as paid during the taxable year, for purposes of determining the dividends-paid deduction from personal holding company income. Prohibits the payment of any dividend which exceeds the undistributed personal holding company income of the corporation for the taxable year. Prescribes a date for the filing of an agreement to notify the Secretary of the Treasury of any acquisition of an interest in a corporation which might affect the capital gains tax treatment of a previous corporate distribution. Permits bankrupt estates to qualify as shareholders in Subchapter S corporations. Allows interest to be paid to taxpayers on money or property wrongfully seized by the Internal Revenue Service for the period in which such money or property is held. Repeals the filing requirements applicable to an individual who transfers income producing property valued in excess of $50,000 to a tax exempt organization subject to an unrelated business income tax. Authorizes the Secretary to exempt private foundations with assets of $5,000 or more from filing an annual tax return under the Code if the foundation complies with the applicable reporting requirements. Treats stock or partnership interests held by a decedent or by members of his family as held by a single shareholder or partner for purposes of qualifying a close corporation for the extended 15 year payment schedule for estate taxes attributable to the corporation.
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.
United States · United States Congress · 3 May 1978
Expands Federal government liability for the acts of its officers who routinely perform investigative, inspection, or law enforcement functions to include certain intentional and ministerial acts. States that such liability shall be exclusive and preclude any remedy against officers individually. Directs the Attorney General to pay the attorney fees incurred by such an officer in connection with a criminal investigation into such officer's official actions.
United States · United States Congress · 2 May 1978
Sugar Stabilization Act - Sets forth the policy of the Congress with respect to foreign trade in sugar. Title I: International Sugar Agreement - Authorizes the President to prohibit the importation of sugar from any country not a member of the International Sugar Organization, and to otherwise regulate foreign trade in sugar to implement the International Sugar Agreement. Establishes civil penalties for the violations of such regulations. Requires the President to submit to Congress an annual report on the Agreement. Title II: Domestic Sugar Program - Directs the Secretary of Agriculture to make an annual estimate of the sugar consumption needs of the United States. Establishes a formula for determining the price objectives of domestic sugar. Authorizes the Secretary to establish a quota for the importation of sugar, and to adjust such quota. Authorizes the Secretary to impose an import fee in order to attain the price objective for sugar. Prohibits the established quota from being filled by direct-consumption sugar, except in specified circumstances. Permits the Secretary to suspend such quota and fees under specified circumstances. Authorizes the Secretary to impose a quota on the importation of "sugar-containing products. Prohibits the importation of sugar, liquid sugar, or "sugar-containing products" after the import quotas have been filled. Prohibits the importation of certain sugar or liquid sugar into the Virgin Islands in excess of 100 pounds annually. Prohibits the exportation of certain sugar from the United States. Regulates the exportation of sugar. Sets forth items to which the sugar quota shall not apply. Title III: General Provisions - Authorizes the Secretary to issue regulations to carry out this Act. Establishes penalties for the violation of such regulations. Requires certain information to be furnished to the Secretary by persons engaged in the manufacture, marketing, transports, or industrial use, of sugar. Prohibits officials engaged in the administration of this Act to invest in sugar. Establishes penalties for the violation of such prohibition. Authorizes the President to suspend the operation of Title II of this Act in a national emergency. Authorizes the Secretary of Agriculture (1) to conduct surveys and investigations to carry out this Act, and (2) to announce a "daily spot price" for raw sugar in specified circumstances. Terminates the authority of the Secretary under this Act on December 31, 1982.
United States · United States Congress · 1 May 1978
Miscellaneous Revenue Act - Amends the Internal Revenue Code to permit a corporation which had not been classified as a personal holding company for the three years preceeding the taxable year to treat a dividend paid after the close of the taxable year, but prior to March 15 of the following year, as paid during the taxable year, for purposes of determining the dividends-paid deduction from personal holding company income. Prohibits the payment of any dividend which exceeds the undistributed personal holding company income of the corporation for the taxable year. Prescribes a date for the filing of an agreement to notify the Secretary of the Treasury of any acquisition of an interest in a corporation which might affect the capital gains tax treatment of a previous corporate distribution. Permits bankrupt estates to qualify as shareholders in Subchapter S corporations. Allows interest to be paid to taxpayers on money or property wrongfully seized by the Internal Revenue Service for the period in which such money or property is held. Repeals the filing requirements applicable to an individual who transfers income producing property valued in excess of $50,000 to a tax exempt organization subject to an unrelated business income tax. Authorizes the Secretary to exempt private foundations with assets of $5,000 or more from filing an annual tax return under the Code if the foundation complies with the applicable reporting requirements. Treats stock or partnership interests held by a decedent or by members of his family as held by a single shareholder or partner for purposes of qualifying a close corporation for the extended 15 year payment schedule for estate taxes attributable to the corporation.
United States · United States Congress · 25 April 1978
Amends the Internal Revenue Code to allow public utilities to exclude from gross income, as contributions to capital, all amounts received in aid of construction of electric energy, steam, or gas facilities.
United States · United States Congress · 20 April 1978
Declares that certain proposed regulations of the Department of the Treasury regarding centralized firearms sales recordkeeping and other firearms control measures exceed the Departments' authority, and directs that the regulations be withdrawn.
United States · United States Congress · 18 April 1978
Amends the Trade Act of 1974, with respect to the authority of the President to negotiate trade agreements, to direct the President to reserve any article for which an agreement limiting agricultural imports has been entered into, from negotiations to reduce or eliminate customs duties or import restrictions.
United States · United States Congress · 13 April 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.
United States · United States Congress · 12 April 1978
Amends the Internal Revenue Code to direct the Secretary of the Treasury to issue regulations corresponding to the principles set forth in a certain private letter ruling relating to the exclusion from gross income of amounts deferred by participants in public deferred compensation plans.
United States · United States Congress · 12 April 1978
Repeals the requirement, under the Social Security Amendments of 1977, that the amount of monthly benefits payable to a spouse or surviving spouse under Title II (Old-Age, Survivors, and Disability Insurance) of the Social Security Act be reduced by the amount such spouse or surviving spouse receives monthly payments from a Federal or State pension fund.
United States · United States Congress · 11 April 1978
Amends the Internal Revenue Code to allow public utilities to exclude from gross income, as contributions to capital, all amounts received in aid of construction of electric energy, steam, or gas facilities.
United States · United States Congress · 4 April 1978
Directs the Secretary of Agriculture, through the Statistical Reporting Service, to take an enumeration of horses in the United States, by the "sampling" method if preferred. Authorizes the appropriation of $2,500,000 for fiscal year 1979 for such purpose.
United States · United States Congress · 22 March 1978
Amends the Internal Revenue Code to allow public utilities to exclude from gross income, as contributions to capital, all amounts received in aid of construction of electric energy, steam, or gas facilities.
United States · United States Congress · 16 March 1978
Amends the Internal Revenue Code to direct the Secretary of the Treasury to issue regulations corresponding to the principles set forth in a certain private letter ruling relating to the exclusion from gross income of amounts deferred by participants in public deferred compensation plans.
United States · United States Congress · 16 March 1978
Expresses the condemnation of the House of Representatives of the kidnapping of Aldo Moro. Declares it the sense of the House of Representatives that (1) Italy deserves the support of the United States, and (2) the President should instruct the Permanent Representative to the United Nations to press for consideration of solutions to the problem of terrorism in all appropriate forums.
![Official portrait of Rep. Waggonner, Joe D., Jr. [D-LA-4]](https://www.congress.gov/img/member/w000018_200.jpg)