United States · United States Congress · 16 February 1981
Establishes the Commission for the Commemoration of the Bicentennial of the United States Constitution to plan and develop activities to commemorate the historic events that preceded and are associated with the Constitution. Requires Federal departments and agencies to cooperate with the Commission in planning appropriate commemorative activities. Directs the Commission to submit annual reports to the President and the Congress by May 1 of each year through calendar year 1990 on its progress. Requires the Commission to submit a report to the President by May 1, 1985, including its recommendations and the plans of Federal, State, and local governments and private groups for such commemoration. Requires the Commission to submit a final report to the President not later than May 1, 1991, detailing the Commission's activities. Terminates the Commission on December 31, 1991. Authorizes appropriations to carry out provisions of this Act for the fiscal year ending September 30, 1982, and such additional amounts as may be necessary for subsequent fiscal years.
United States · United States Congress · 16 February 1981
Voluntary School Prayer Act of 1981 - Eliminates Supreme Court and Federal district court jurisdiction to review and hear any case arising out of State law relating to voluntary prayer in public buildings and schools.
United States · United States Congress · 6 February 1981
Department of Education Reform Act of 1981 - Amends the Department of Education Organization Act of 1980 to prohibit the Secretary of Education and any other officer of the Department of Education from exercising any direction, supervision, or control, except as expressly required by Federal statute, over: (1) the curriculum, program of instruction, administration, or personnel of any educational institution or system; (2) any accrediting agency or association; or (3) the selection or content of library resources, textbooks, or other instructional materials by any educational institution or system. Provides that, for purposes of such limitation of authority, "Federal statute" shall not include Federal regulations, rules, or guidelines.
United States · United States Congress · 6 February 1981
Expresses the sense of the Senate that the Consumer Product Safety Commission, the Environmental Protection Agency, and the Food and Drug Administration should develop and validate an alternative nonanimal testing procedure.
United States · United States Congress · 5 February 1981
Amends the Internal Revenue Code to increase the amount of the earned income exclusion for U.S. citizens working abroad who are bona fide residents of a foreign country. Sets the amount of such exclusion at $50,000, plus 50 percent of the lesser of compensation exceeding $50,000 or $50,000. Repeals the requirement that such U.S. citizens work in hardship areas to be eligible for the tax exclusion. Reduces the length of the residency requirement for the tax exclusion. Provides for an income tax exclusion for the value of employer-provided lodging in a camp in cases where satisfactory housing is not generally available. Repeals the income tax deduction for certain living expenses of U.S. citizens abroad.
United States · United States Congress · 3 February 1981
Intelligence Identities Protection Act of 1981 - Amends the National Security Act of 1947 to establish criminal penalties for any person who knowingly discloses information which identifies a U.S. covert intelligence agent. Establishes a maximum penalty of ten years' imprisonment and/or a $50,000 fine for any person who, having had authorized access to classified information which identifies a covert agent, learns the identity of a covert agent and intentionally discloses such information. Establishes a maximum penalty of five years' imprisonment and/or a $25,000 fine for any person who, having had authorized access to classified information, learns the identity of a covert agent and intentionally discloses such information. Establishes a maximum penalty of three years' imprisonment and/or a $15,000 fine for any person who, in the course of a "pattern of activities intended to identify" covert agents and with "reason to believe" that such activities would impair U.S. foreign intelligence activities, discloses information identifying an agent. Directs the President to establish procedures requiring Federal agencies to provide assistance in concealing the identity of U.S. intelligence agents.
United States · United States Congress · 30 January 1981
Authorizes the Committee on Governmental Affairs from March 1, 1981, through February 28, 1982, to: (1) make expenditures from the contingent fund of the Senate; (2) employ personnel; and (3) utilize the services of department or agency personnel on a reimbursable basis. Sets forth the limit on expenses by the Committee during such period. Authorizes the Committee to study or investigate: (1) the efficiency and economy of all branches of government, including national security and energy management; (2) the extent to which improper activities take place in the labor-management field; (3) organized crime utilization of interstate and international commerce and the adequacy of Federal and State laws to prevent such operations; (4) civil and criminal disorder; and (5) all other aspects of lawlessness.
United States · United States Congress · 29 January 1981
Declares that seven members of named families have resided since a certain date in the United States Embassy in Moscow and have been living there in accordance with United States laws. Authorizes the granting of a visa and admission to the United States for permanent residence to each individual. Provides that each individual shall be held and considered to have been lawfully admitted to the United States for permanent residence as of a specified date, and to have been physically present and residing therein continuously since such date.
United States · United States Congress · 29 January 1981
Amends the Internal Revenue Code to exempt interest paid on deposits by State and local governments of public funds, which are secured by tax-exempt securities, from provisions of the Internal Revenue Code which disallow income tax deductions for interest paid with respect to tax-exempt financing.
United States · United States Congress · 27 January 1981
Patent Term Restoration Act of 1981 - Amends the patent law to extend the terms of patents which encompass specified products or a method for using a product, any of which are subject to certain nonpatent regulatory review periods. Sets forth the terms and conditions of such extension, including a seven year limitation. Directs the Commissioner of Patents to issue to the owner of record of a patent a certificate of extension stating the fact and length of the extension and identifying the product and the use and the claim to which such extension is applicable. Makes such certificate a part of the original patent. Limits the application of such patent term extension to patents for products subject to regulation under the Federal Food, Drug, and Cosmetic Act, the Public Health Service Act, the Federal Insecticide, Fungicide, and Rodenticide Act, the Toxic Substances Control Act, and the Act of March 4, 1913 (relating to virus, serum, toxin, and analogous products).
United States · United States Congress · 27 January 1981
Authorizes the President to present a gold medal, on behalf of the Congress, to each of the sixty-six United States nationals held hostage in Iran and to one appropriate survivor of each of the eight U.S. servicemen killed during the attempted hostage rescue. Directs the Secretary of the Treasury to strike a gold medal with suitable inscriptions and to coin and sell bronze duplicates of such medals. Authorizes appropriations.
United States · United States Congress · 21 January 1981
Expresses the jubilation and relief of the Senate at the release of the 52 Americans held hostage by Iran. Expresses appreciation for the efforts of various Government officials to secure the release of the hostages. Recognizes the patriotism of the military personnel who tried to rescue them. Thanks Algeria for its help in securing the hostages' release.
United States · United States Congress · 19 January 1981
Title I: Export Trading Companies - Export Trading Company Act of 1981 - Directs the Secretary of Commerce to promote export trading companies by providing information and by facilitating contacts between producers of exportable goods and export trading companies. Authorizes any banking organization to invest specified amounts in export trading companies upon notifying, but without obtaining the prior approval of, the appropriate Federal banking agency, if such investment does not cause an export trading company to become a subsidiary of such organization. Allows greater investment by Edge Act Corporations not engaged in banking. Permits any banking organization to invest beyond such limitations with prior approval of the appropriate Federal banking agency. Requires prior notification of such agencies in specified circumstances. Sets forth further limitations on export trading companies and investments by banking organizations. Specifies factors to be taken into consideration by the banking agencies. Permits such agencies to impose conditions in approving applications to invest in export trading companies. Requires such agencies to report to the appropriate Congressional committees with their recommendations concerning implementation of this Act, related changes in U.S. law, and effects of ownership of U.S. banks by foreign banking organizations. Provides for judicial review of denial orders in the appropriate U.S. Court of Appeals. Sets forth the grounds for disapproval. Provides for remand for further consideration by the banking agency. Directs the Economic Development Administration and the Small Business Administration to give special weight to export-related benefits when considering applications for loans and guarantees by export trading companies. Authorizes up to $20,000,000 to be appropriated for initial investments and operating expenses for each of fiscal years 1981-1985. Directs the Export-Import Bank of the United States to provide loan guarantees for expansion to export trading companies or exporters to be secured by accounts receivable or inventories when adequate financing is not otherwise available. Directs the Board of Directors to try to insure that a major share of such guarantees promotes exports from small, medium-size, and minority businesses or agricultural concerns. Title II: Export Trade Associations - Export Trade Association Act of 1981- Amends the Webb-Pomerene Act to exempt the export trade, export trade activities, and methods of operation of certified export trade associations and export trading companies from the antitrust laws. Delays the effectiveness of any certificate upon the notification of the Secretary of Commerce by the Attorney General or the Federal Trade Commission (FTC) of disagreement with the decision to issue a certificate. Sets forth the procedure to be followed by any association, company, or export trading company seeking certification under this Act and by the Secretary in issuing such certificates. Permits automatic certification for existing associations. Provides for appeal of the Secretary's denial of certification. Authorizes the Attorney General or the FTC to bring an action to invalidate a certification. Requires the Secretary, in consultation with the Attorney General and the FTC, to publish certification guidelines. Requires certified associations and export trading companies to submit annual reports to the Secretary. Directs the Secretary to establish within the Department of Commerce an Office of Export Trade. Requires such Office to report annually to the appropriate Congressional committees on all East-West trade transactions requiring validated licenses and on the role of U.S. export trading companies in such trade. Grants a temporary exemption from the Sherman Act antitrust provisions for existing associations. Requires, with specified exceptions, that all applications for certification be kept confidential. Authorizes the Secretary to require an association or trading company to modify its operation to be consistent with international obligations of the United States. Directs the President to appoint, with the Senate's advice and consent, a task force, seven years after enactment, to examine the effect of this Act and to make recommendations.
United States · United States Congress · 5 January 1981
State and Local Government Fiscal Note Act of 1981 - Amends the Congressional Budget Act of 1974 to require the Director of the Congressional Budget Office to estimate the costs which would be incurred by State or local governments in complying with any bill or resolution (likely to result in annual costs greater than $200,000,000 or have exceptional fiscal consequences) and compare such estimates with any made by congressional committees or Federal agencies. Authorizes appropriations.
United States · United States Congress · 5 January 1981
Establishes a Commission on More Effective Government to study and recommend ways of promoting economy, efficiency, and improved service within the Executive branch of the Government. Directs the Commission to recommend methods to improve the relationships among the Federal, State, and local governments. Directs the Commission to submit a final report to the Congress ten days after the Ninety-eighth Congress convenes. Terminates the Commission 90 days after such date. Authorizes appropriations to carry out this Act.
United States · United States Congress · 5 January 1981
Authorizes the President, subject to specified conditions, to negotiate agreements with foreign governments limiting imports of automobiles, trucks, and their parts. Limits such authorization and agreements to a specified period of time. Requires consultation with the private sector. Prohibits treating actions taken pursuant to such agreements as violations of U.S. laws.
United States · United States Congress · 11 December 1980
Expresses the sense of the Senate that it supports the President's efforts to: (1) communicate the opposition of the United States to any attempt by the Soviet Union to violate the sovereignty of Poland; (2) encourage other nations to affirm their support for respect of principles of international relations; (3) consider, in cooperation with allies and friends of the United States, measures to be taken if Warsaw Pact forces invade Poland; and (4) inform the Soviet Union of the consequences of such an invasion.
United States · United States Congress · 2 December 1980
Designates the Clinical Center of the National Institutes of Health located in Montgomery County, Maryland, as the Warren Grant Magnuson Clinical Center of the National Institutes of Health. Directs the Committee on Rules and Administration to place appropriate markers or inscriptions at suitable locations within such center to commemorate and designate such building.
United States · United States Congress · 30 September 1980
Establishes the Commission for the Commemoration of the Bicentennial of the United States Constitution, representing the three branches of the Federal Government and the public, to plan and develop activities to commemorate the historic events that preceded and are associated with the Constitution. Requires Federal departments and agencies to cooperate with the Commission in planning appropriate commemorative activities. Directs the Commission to submit annual reports to the President and the Congress by May 1 of each year through calendar year 1990 on its progress. Requires the Commission to submit a final report to the President by May 1, 1991, including its recommendations and the plans of Federal, State, and local governments, and private groups for such commemoration. Terminates the Commission on December 31, 1991. Authorizes appropriations to carry out provisions of this Act for the fiscal year ending September 30, 1981, and such additional amounts as may be necessary for subsequent fiscal years.
United States · United States Congress · 30 September 1980
International Trade and Investment Reorganization Act - Establishes the Department of International Trade and Investment to coordinate U.S. policies for international trade, negotiate trade agreements, protect U.S. industry, agriculture, and labor from foreign competition, promote international trade, administer the U.S. Customs Service, and participate in the development of friendly countries. Transfers to the Department all functions of the Office of the U.S. Trade Representative, the U.S. Customs Service, the Export-Import Bank, and the Overseas Private Investment Corporation (OPIC). Transfers to the Department specified functions of the Departments of Commerce and Treasury and the International Trade Commission. Sets forth the administrative provisions applicable to the Department. Requires the Secretary of International Trade and Investment to report annually to the President for submission to Congress concerning the Department's activities. Makes the Secretary Chairman of the Board of OPIC (currently the Administrator of the Agency for International Development) and of the Export-Import Bank (currently the Bank's President). Makes the Director of the U.S. International Development Cooperation Agency an ex officio member of the OPIC Board.
United States · United States Congress · 30 September 1980
American Innovation and Employee Stock Ownership Act of 1980 - Amends the Internal Revenue Code to provide: (1) for individuals, a deduction from gross income of 80 percent of qualified small corporation net capital gain; and (2) for corporations, an alternative capital gain tax rate of 14 percent of qualified small corporation net capital gain. Defines "qualified small corporation net capital gain" as net capital gain from the sale or exchange of qualified securities of a qualified small corporation: (1) whose gross income for the taxable year does not exceed $30,000,000; (2) whose net worth for such year does not exceed $15,000,000; (3) which employs not more than 1,000 persons below the officer level; (4) at least 15 percent of the total value of shares of all classes of whose stock is owned by such employees; and (5) such stock-owning employees constitute at least 25 percent of the total employees of the corporation.
United States · United States Congress · 22 September 1980
American Federalism Rejuvenation and Renaissance Resolution of 1980 - Directs the President, after consulting with Congress, to call a Convocation on American Federalism by January 1, 1981, in order to bring together elected officials of Federal, State, and local governments to stimulate a national assessment of the Federal system of government. Enumerates the duties of the Convocation which include: (1) defining which governmental functions are inherently national in nature and which functions are inherently State or local in nature; (2) examining the allocation of such functions; (3) identifying any necessary changes in the current functional or programmatic roles of each level of government; (4) defining the power of Congress to regulate interstate commerce and the use of such power to preempt State and local regulatory authority; (5) defining the limits on the power of Congress to attach conditions to the distribution of Federal financial assistance; and (6) developing strategies to simplify the Federal grant system and to ensure that the system is utilized only where direct provision of the services by the Government would not be effective. Requires the Convocation to adjourn by January 1, 1982, and to publish a final report by May 1, 1982. Permits Convocation delegates to conduct State and regional conferences to prepare for the Convocation. Authorizes the Chairman of the Advisory Commission on Intergovernmental Relations to provide financial assistance for such conferences. Directs the Chairman to plan and administer the Convocation until the delegates elect a Convocation Chairman.
United States · United States Congress · 22 September 1980
Expresses the sense of Congress that by January 1, 1981, the President should call a Convocation on American Federalism in order to bring together elected officials of Federal, State, and local governments to stimulate a national assessment of the Federal system of government. States that the Convocation should: (1) define which governmental functions are inherently national in nature or inherently State or local in nature; (2) examine the allocation of such functions; (3) identify any necessary changes in current functional or programmatic roles of each level of government; (4) define the power of Congress to regulate interstate commerce and the use of such power to preempt State and local regulatory authority; (5) define the limits on the power of Congress to attach conditions to the distribution of Federal financial assistance; (6) develop strategies to simplify the Federal grant system and to ensure that the system is utilized only where direct provision of services by the Government would not be effective; and (7) establish procedures for the publication of a final report by 1982 and interim reports as necessary. Declares that delegates to the Convocation should be authorized to conduct regional and State conferences to prepare for the Convocation. States that the Chairman of the Advisory Commission on Intergovernmental Relations should: (1) provide financial assistance to State and local governments for conducting such conferences; and (2) direct the planning and administration of the Convocation until the delegates elect the Chairman of the Convocation.
United States · United States Congress · 17 September 1980
Establishes the United States Holocaust Memorial Council which shall: (1) provide and encourage appropriate ways for the Nation to observe the Days of Remembrance to commemorate the holocaust; (2) plan, erect, and oversee the operation of a memorial museum to the victims of the holocaust; and (3) plan for carrying out the recommendations of the report submitted to the President on September 27, 1979, by the President's Commission on the Holocaust. Authorizes the Council to receive public land in the District of Columbia on which it may erect the memorial. Terminates the Council's authority to construct a memorial if the erection of the memorial has not commenced within five years of enactment of this Act and sufficient funds to ensure completion of the memorial have not been certified to be available. Authorizes appropriations to carry out this Act.
United States · United States Congress · 4 September 1980
State and Local Government Fiscal Note Act of 1980 - Amends the Congressional Budget Act of 1974 to require the Director of the Congressional Budget Office to estimate the costs which would be incurred by State or local governments in complying with any significant bill or resolution (likely to result in annual costs greater than $200,000,000 or have exceptional fiscal consequences) and compare such estimates with any made by congressional committees or Federal agencies. Authorizes appropriations through fiscal year 1984 for such purpose.
United States · United States Congress · 5 August 1980
Approves the Protocol to the Agreement on Implementation of Article VII (Customs Valuation) of the General Agreement on Tariffs and Trade and the administrative action implementing such agreement. Authorizes the President to accept such Protocol if each major industrial country also accepts such Protocol. Makes such Protocol applicable only with regard to other countries which have accepted the obligations of such Protocol and are not otherwise denying adequate trade benefits to the United States. Specifies the relationship of such Protocol to U.S. law. Amends the Tariff Act of 1930, as amended by the Trade Agreements Act of 1979, to repeal a provision for accepting the transaction value, for purposes of customs valuation, of imported merchandise in a sale between a related buyer and seller, if such value approximates the transaction value in sales to unrelated buyers of identical merchandise produced in a different country. Amends the Tariff Schedules of the United States to make technical revisions in the tariff classifications of various chemicals. Authorizes the President to proclaim tariffs on specified chemicals. Subjects specified chemicals to any staged rate reductions proclaimed by the President for other specified chemical classifications.
United States · United States Congress · 5 August 1980
Authorizes the President to negotiate agreements with foreign governments limiting exports of automobiles and trucks to the United States. Terminates such authority and any agreements pursuant to such authority on July 1, 1985. States that action taken pursuant to such agreements shall not be treated as violating U.S. laws.
United States · United States Congress · 31 July 1980
Service Industries Development Act - Authorizes the Secretary of Commerce to establish in the Department of Commerce a service industries development program. Lists the purposes of such program which include: (1) promoting the competitiveness of U.S. service firms and U.S. employees through economic policies; (2) promoting the use and sale of U.S. services abroad; (3) analyzing the effect on the international competitiveness of U.S. service industries of Government regulation, taxes, and antitrust policies; (4) collecting statistical information concerning domestic service industries; and (5) conducting a program of research and analysis of service-related issues and problems. Authorizes the Secretary to establish a Service Sector Consultative Committee to promote the development and competitiveness of U.S. service firms. Sets forth the purposes of the Committee which include: (1) advising the Department on measures the Government may take to enhance the competitiveness of the private sector; (2) acting as a liaison between the Government and the private sector; (3) maintaining communications between other Government advisory committees on service-related issues; and (4) discussing and studying domestic service-related matters relating to economic policy. Directs the Committee to report to the Secretary annually on its findings. Requires the Secretary to submit to Congress an annual report on the activities of the Department directed to promoting U.S. service industries. Authorizes the President to establish an Interagency Committee to discuss and make recommendations on service sector issues. Declares that such Committee shall report to either the Economic Policy Group or another economic entity as designated by the President. Directs the Committee: (1) to develop strategies for promoting competitive U.S. service industries; (2) to coordinate the implementation of service-related policies within the Government; (3) to review the adequacy of financial and personnel resources of Government agencies allocated to service industries; and (4) to seek to eliminate disparate treatment between manufacturing and service industries.
United States · United States Congress · 30 July 1980
Establishes a Commission on More Effective Government to study and recommend ways of promoting economy, efficiency, and improved service within the Federal Government. Directs the Commission to recommend methods to improve the relationship between Federal, State, an local governments. Provides for the appointment of members of the Commission by the President, the Speaker of the House of Representatives, and the Senate majority leader. Sets forth provisions governing the organization and compensation of the Commission and its staff. Empowers the Commission to establish advisory councils and committees as it deems appropriate without regard to the provisions of the Federal Advisory Committee Act. Sets forth the powers of the Commission enabling it to gather information free from subsequent review or comment by any Federal agency. Directs the Commission to submit its final report to the Congress ten days after the Ninety-eighth Congress convenes. Terminates the Commission 90 days after such date. Authorizes the appropriation of funds necessary to carry out this Act.
United States · United States Congress · 28 July 1980
Venture and Equity Capital Revitalization Act of 1980 - Amends the Internal Revenue Code to increase the capital gains deduction for individuals from 60 percent of the net capital gain to 75 percent.
United States · United States Congress · 25 July 1980
Amends the Railroad Retirement Act of 1974 to extend specified cost-of-living increases for railroad employee annuitants. Amends the Internal Revenue Code to increase the excise tax paid by employers on employees' compensation so as to generate funds to finance such increases. Directs the Railroad Retirement Board, not later than 30 days before the beginning of a calendar year, to determine the account balance-benefit ratio for such calendar year. Directs the Board to publish a notice in the Federal Register of such ratio and of the tax rate applicable under this Act.
United States · United States Congress · 21 July 1980
Increases the limitation on program activity authorized for the Export-Import Bank for direct loans. Stipulates that a specified portion of such increase shall not be available for obligation or disbursement prior to October 1, 1980.
United States · United States Congress · 2 July 1980
Commemorates the twentieth anniversary of the Treaty of Mutual Cooperation and Security between the United States and Japan. Declares that it is in the best interest of both such countries to convene a parliamentary and scholarly conference to commemorate and evaluate such treaty. Expresses the interest of the Senate in receiving a report on such conference.
United States · United States Congress · 1 July 1980
Amends the Internal Revenue Code, with respect to computing the limitation on the foreign tax credit for corporations, to exclude from the reckoning of capital gains any gain from the sale, exchange or other disposition of a patent, an invention, model, or design (whether or not patented), a copyright, a secret formula or process, or any other similar property right.
United States · United States Congress · 1 July 1980
Requires each Federal agency to include in each of its contracts for goods or services a provision specifying that the United States will pay interest on contract payments not paid by the thirtieth day after the agency receives a proper invoice for the goods or services.
United States · United States Congress · 26 June 1980
Amends the Internal Revenue Code to extend from June 15, 1981, to January 1, 1986, the termination date for certain provisions of the Tax Reform Act of 1976 relating to the allowance of a deduction for the amortization of certain rehabilitation expenditures for certified historic structures.
United States · United States Congress · 25 June 1980
Farm Labor Contractor Registration Act Amendments of 1980 - Amends the Farm Labor Contractor Registration Act of 1963 to revise the definition of "farm labor contractor" to: (1) broaden specified exclusions from such definition (thus broadening certain exemptions from coverage under such Act); and (2) exclude from such definition (and such coverage) any nonprofit or cooperative association of farmers, growers, ranchers, duly incorporated under appropriate State laws, and operated solely for the mutual benefit of the members thereof, and any full-time or regular employee of such association or cooperative who engages in such activity solely for such employer. Adds other definitions relating to such revisions. Revises the definition of "agricultural employment" to specify that listed activities take place on a farm or ranch. Limits the definition of "migrant worker" to only those workers who cannot regularly return to their domicile each day after working hours, or who are transported from and to their domicile each workday by the person who recruits, solicits, hires, or furnishes such worker for agricultural employment on a farm or ranch owned or operated by another person.
United States · United States Congress · 25 June 1980
Tax Reduction - Job Creation Act - Title I: Individual Tax Rates - Amends the Internal Revenue Code to reduce income tax rates for each category of individual taxpayers. Title II: Incentives for New Plant and Equipment - Amends the Internal Revenue Code to revise the method for determining useful lives of business assets for purposes of computing allowable depreciation deductions. Replaces the asset depreciation range (ADR) method with a schedule of capital cost recovery periods for three classes of business property. Establishes capital cost recovery periods for the following classes of business property: (1) buildings and their structural components, ten years; (2) tangible property, five years; and (3) automobiles, taxis, and light-duty trucks (up to $100,000), three years. Allows a ten percent investment tax credit for buildings and tangible property, and a six percent credit for automobiles, taxis, and light duty trucks. Requires the recapture of depreciation amounts and investment tax credit amounts applicable to assets which are sold or otherwise disposed of prior to the expiration of the capital cost recovery period. Permits taxpayer to deduct less than the full allowance for capital cost recovery in any taxable year. Permits a carryover to succeeding taxable years of any unused depreciation amounts. Disqualifies capital cost recovery property from the allowance for first year depreciation. Treats amounts claimed as the capital cost recovery of noncorporate lessors as an item of tax preference for purposes of the minimum tax. Adopts as an accounting practice the "half year convention" under which investments eligible for capital cost recovery treatment or the investment tax credit which are made at any time during the taxable year are deemed to be made in the middle of such year.
United States · United States Congress · 18 June 1980
Expresses the sense of Congress regarding the domestic automotive and truck industry. Declares it to be a goal of the United States to achieve technological superiority in the world automobile and truck industry. Advocates changes in economic, fiscal, and import policies in order to create adequate capital and produce a more favorable climate for the domestic automobile and truck industry.
United States · United States Congress · 17 June 1980
Designates October 19, 1981, as a Day of National Celebration of the 200th Anniversary of the victory of General George Washington at Yorktown, Virginia.
United States · United States Congress · 10 June 1980
Social Security Tax Reduction Act of 1980 - Amends the Internal Revenue Code with respect to tax rates for old-age, survivors, and disability insurance: (1) on employees and employers, to increase the 1981 rate from 5.35 percent to 5.4 percent, the 1982 through 1984 rate from 5.4 percent to 5.45 percent, and the 1985 rate from 5.7 percent to 5.75 percent, but hold the 1986 through 1989 rate at the currently legislated 5.7 percent, and the post-1989 rate at 6.2 percent; (2) on the self-employed, to reduce the 1981 rate from 8.00 percent to 7.37 percent, but increase the 1982 through 1984 rate from 8.05 percent to 8.17 percent, and the 1985 rate from 8.55 percent to 8.62 percent, before holding the 1986 through 1989 rate at the currently legislated 8.55 percent, and the post-1989 rate at 9.3 percent. Reduces the rates of tax on employees, employers, and the self-employed for hospital insurance: (1) from 1.3 percent to .73 percent for 1981 through 1984; and (2) from 1.35 percent to .78 percent for 1985. Amends the Social Security Act to reduce the wage base for such taxes and to adjust the formulae for allocation of appropriations to the Disability and Hospital Insurance Trust Fund in order to maintain current levels. Provides for partial funding of hospital insurance program from general revenues.
![Official portrait of Sen. Roth Jr., William V. [R-DE]](https://www.congress.gov/img/member/r000460_200.jpg)