Small Business Tax Reduction Act of 1979

Summary

Small Business Tax Reduction Act of 1979 - Amends the Internal Revenue Code to reduce the tax on corporate income: (1) from 17 percent to 15 percent of the first $25,000; (2) by increasing the range of the 30 percent rate from $50,000-$75,000 to $50,000-$100,000; (3) by increasing the range of the 40 percent rate from $75,000-$100,000-$100,000-$150,000; and (4) by including the minimum threshold for the 46 percent rate from $100,000 to $150,000.

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Timeline

1. 14 December 1979

   Introduced

   Referred to Senate Committee on Finance.

   Source: IntroReferral

2. 14 December 1979

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 14 December 1979

  Open at official source

Sponsors

• Sen. Nelson, Gaylord [D-WI] · D · Sponsor
• Rep. Baucus, Max [D-MT-1] · D · Cosponsor
• Sen. Boren, David L. [D-OK] · D · Cosponsor
• Sen. Matsunaga, Spark M. [D-HI] · D · Cosponsor
• Sen. Stewart, Donald [D-AL] · D · Cosponsor
• Sen. Pell, Claiborne [D-RI] · D · Cosponsor
• Sen. Weicker, Lowell P., Jr. [R-CT] · R · Cosponsor
• Sen. Durkin, John A. [D-NH] · D · Cosponsor
• Sen. Schmitt, Harrison H. [R-NM] · R · Cosponsor
• Sen. Bumpers, Dale [D-AR] · D · Cosponsor
• · ssfi00 · Standing

Related records

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