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United States · Bill · HR

H.R. 809 (100th)

Tax Fairness for Farmers, Ranchers, and Small Businessmen Act of 1987

openUnited States· United States Congress· EN

Introduced

28 January 1987

Last action

10 November 1988 · Committee

Status

Provisions of Measure Incorporated Into H.R.4333.

Sponsors

Rep. Smith, Virginia [R-NE-3], Rep. Stallings, Richard H. [D-ID-2], Rep. Petri, Thomas E. [R-WI-6], Rep. Dyson, Roy [D-MD-1], Rep. Kastenmeier, Robert W. [D-WI-2], Rep. Bevill, Tom [D-AL-4], Rep. Lightfoot, Jim [R-IA-3], Rep. Kolter, Joseph P. [D-PA-4], Sen. Roberts, Pat [R-KS], Rep. Gunderson, Steve [R-WI-3], Rep. McEwen, Bob [R-OH-6], Rep. Madigan, Edward R. [R-IL-15], Rep. Stangeland, Arlan [R-MN-7], Rep. Weber, Vin [R-MN-2], Rep. Penny, Timothy J. [D-MN-1], Rep. Clinger, William F., Jr. [R-PA-5], Rep. English, Glenn [D-OK-6], Rep. Bentley, Helen Delich [R-MD-2], Rep. Grandy, Fred [R-IA-6], Rep. Schuette, Bill [R-MI-10], Rep. Stenholm, Charles W. [D-TX-17], Rep. Daub, Hal [R-NE-2], Rep. Frenzel, Bill [R-MN-3]

Subjects

Taxation

Source updated

28 August 2025

Taxation

Official sourceView documentsShare

Summary

Tax Fairness for Farmers, Ranchers, and Small Businessmen Act of 1987 - Amends the Tax Reform Act of 1986 to repeal provisions which eliminated the use of income averaging. Specifies that the Internal Revenue Code shall be applied and administered as if such provisions had not been enacted. Increases the amount of the income tax deduction for health insurance premiums paid by self-employed individuals from 25 percent of such costs to 50 percent of such costs. Repeals requirements that farmers must capitalize preproductive costs. Denies the use of cash accounting for all corporations engaged in farm product processing with annual gross receipts in excess of $100,000,000. Allows farmers the full investment tax credit carry forward. (Present law requires a 35 percent reduction in the carry forward of such credit.) Allows a one-time exclusion of any gain realized from the sale or exchange of land used in the trade or business of farming.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 28 January 1987

    Introduced

    Referred to House Committee on Ways and Means.

    Source: IntroReferral

  2. 28 January 1987

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 28 January 1987

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 10 November 1988

    Committee

    Provisions of Measure Incorporated Into H.R.4333.

    Source: Committee

Votes

No vote records are attached yet.

Versions

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

Documents

1 official file

Leesvertaling

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Sponsors

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Sources

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