Jobs Creation Act

Summary

Jobs Creation Act - Amends the Internal Revenue Code to reduce the individual income tax rates. Allows a credit against the income tax up to $1,000, for ten percent of the increase in the total savings deposits and investments since the end of the previous year. Allows a limited income tax deduction by certain domestic corporations for dividends paid. Limits corporate deductions for dividends received from foreign corporations. Repeals corporate deductions for other dividends received. Allows the taxpayer to take a deduction for specified percentages of the acquisition costs of certain types of property, with a corresponding reduction in basis, in lieu of a depreciation deduction. Doubles the corporate surtax exemption to $100,000.

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Timeline

1. 27 January 1977

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 27 January 1977

   Introduced

   Introduced in House

   Source: IntroReferral

3. 27 January 1977

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 27 January 1977

  Open at official source

Sponsors

• Rep. Kemp, Jack [R-NY-31] · R · Sponsor
• Sen. Andrews, Mark [R-ND] · R · Cosponsor
• · hswm00 · Standing

Related records

• related to ← Jobs Creation Act