A bill to allow an income deduction for certain motor carrier operating authorities to offset the impact of the Motor Carrier Reform Act of 1980.

Summary

Allows motor carriers an income tax deduction for the value of motor carrier operating authorities rendered worthless by deregulation or $50,000, whichever is greater. Requires the deduction of such amount over a 36 month period.

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

Timeline

1. 12 March 1981

   Committee

   Subcommittee on Taxation and Debt Management took the following actions.

   Source: Committee

2. 12 March 1981

   Introduced

   Read second time and referred to Senate Committee on Finance.

   Source: IntroReferral

3. 12 March 1981

   Introduced

   Introduced in Senate

   Source: IntroReferral

4. 17 March 1981

   Committee

   Committee on Finance requested executive comment from OMB; Treasury Department.

   Source: Committee

5. 8 May 1981

   Committee

   Subcommittee on Taxation and Debt Management. Hearings held.

   Source: Committee

Votes

No vote records are attached yet.

Versions

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

Documents

1 official file

• Introduced in Senate

  summary · EN · 12 March 1981

  Open at official source

Sponsors

• Sen. Baucus, Max [D-MT] · D · Sponsor
• Sen. Packwood, Bob [R-OR] · R · Sponsor
• Sen. Cannon, Howard W. [D-NV] · D · Sponsor
• Sen. Riegle, Donald W., Jr. [D-MI] · D · Sponsor
• Sen. Bentsen, Lloyd M. [D-TX] · D · Sponsor
• Sen. Wallop, Malcolm [R-WY] · R · Sponsor
• Sen. Matsunaga, Spark M. [D-HI] · D · Sponsor
• Sen. Boren, David L. [D-OK] · D · Sponsor
• Sen. Symms, Steven D. [R-ID] · R · Cosponsor
• Sen. Durenberger, Dave [R-MN] · R · Cosponsor
• Sen. Jepsen, Roger W. [R-IA] · R · Cosponsor
• Sen. Kassebaum, Nancy Landon [R-KS] · R · Cosponsor
• Sen. Chafee, John H. [R-RI] · R · Cosponsor
• Sen. Mitchell, George J. [D-ME] · D · Cosponsor
• · ssfi00 · Standing

Related records

No cross-record relationships stored yet.