Disability Tax Surcharge and Rollback Act of 1979

Summary

Disability Tax Surcharge and Rollback Act of 1979 - Title I: Increase in Excise Taxes on Cigarettes and Alcoholic Beverages - Amends the Internal Revenue Code to impose upon producers of alcoholic beverages a surtax of nine percent of the amount of alcohol tax presently imposed on alcoholic beverages. Increases the excise tax on small and large cigarettes. Title II: Use of New Excise Tax Revenues in Financing of Disability Insurance Program - Allocates revenue from the taxes imposed upon alcoholic beverages by this Act and revenues from 20 percent of the taxes imposed upon the sale of cigarettes to the Federal Disability Insurance Trust Fund. Makes reductions in employment taxes after 1980.

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1 official file

• Introduced in House

  summary · EN · 2 April 1979

  Open at official source

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