A bill to amend section 4940 of the Internal Revenue Code of 1954 to reduce the excise tax based on the investment income of private foundations from 4 percent to 2 percent.

Introduced

13 October 1977

Last action

13 October 1977 · Introduced

Status

Referred to Senate Committee on Finance.

Sponsors

Sen. Gravel, Mike [D-AK], Sen. Curtis, Carl T. [R-NE], Sen. Anderson, Wendell R. [D-MN], Sen. Baker, Howard H., Jr. [R-TN], Sen. Bartlett, Dewey F. [R-OK], Sen. Bentsen, Lloyd M. [D-TX], Sen. Bumpers, Dale [D-AR], Sen. Church, Frank [D-ID], Sen. Cranston, Alan [D-CA], Sen. Domenici, Pete V. [R-NM], Sen. Dole, Robert J. [R-KS], Sen. Durkin, John A. [D-NH], Sen. Eagleton, Thomas F. [D-MO], Sen. Ford, Wendell H. [D-KY], Sen. Goldwater, Barry [R-AZ], Sen. Griffin, Robert P. [R-MI], Sen. Haskell, Floyd K. [D-CO], Sen. Hansen, Clifford P. [R-WY], Sen. Hatfield, Mark O. [R-OR], Sen. Hathaway, William D. [D-ME], Sen. Hayakawa, Samuel Ichiye [R-CA], Sen. Humphrey, Hubert H. [D-MN], Sen. Heinz, John [R-PA], Sen. Leahy, Patrick J. [D-VT], Sen. Lugar, Richard G. [R-IN], Sen. Mathias, Charles McC., Jr. [R-MD], Sen. Matsunaga, Spark M. [D-HI], Sen. McIntyre, Thomas J. [D-NH], Sen. Morgan, Robert B. [D-NC], Sen. Moynihan, Daniel Patrick [D-NY], Sen. Muskie, Edmund S. [D-ME], Sen. Packwood, Bob [R-OR], Sen. Percy, Charles H. [R-IL], Sen. Ribicoff, Abraham A. [D-CT], Sen. Riegle, Donald W., Jr. [D-MI], Sen. Sparkman, John J. [D-AL], Sen. Stevenson, Adlai E., III [D-IL], Sen. Thurmond, Strom [R-SC], Sen. Tower, John G. [R-TX], Sen. Wallop, Malcolm [R-WY], Sen. Weicker, Lowell P., Jr. [R-CT], Sen. Williams, Harrison A., Jr. [D-NJ], Sen. Zorinsky, Edward [D-NE], Sen. Bayh, Birch [D-IN], Sen. Case, Clifford P. [R-NJ], Sen. Helms, Jesse [R-NC], Sen. Javits, Jacob K. [R-NY], Sen. Laxalt, Paul D. [R-NV]

Subjects

Taxation

Source updated

1 August 2024