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Tax Equity And Fiscal Responsibility Act Of 1982
The Tax Equity and Fiscal Responsibility Act of 1982 (), also known as TEFRA, is a United States federal law that rescinded some of the effects of the Kemp-Roth Act passed the year before. Between summer 1981 and summer 1982, tax revenue fell by about 6% in real terms, caused by the dual effects of the economy dipping back into recession (the second dip of the "double dip recession") and Kemp-Roth's reduction in tax rates, and the deficit was likewise rising rapidly because of the fall in revenue, and the rise in government expenditures. The rapid rise in the budget deficit created concern among many in Congress. TEFRA was created in order to reduce the budget gap by generating revenue through closure of tax loopholes, introduction of tougher enforcement of tax rules, rescinding some of Kemp-Roth's reductions in marginal personal income tax rates that had not yet gone into effect, and raising some rates, especially corporate rates. TEFRA was introduced November 13, 1981 and was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pete Stark
Fortney Hillman Stark Jr. (November 11, 1931 – January 24, 2020), known as Pete Stark, was an American businessman and politician who was a member of the United States House of Representatives from 1973 to 2013. A Democrat from California, Stark's district— during his last two decades in Congress—was in southwestern Alameda County and included Alameda, Union City, Hayward, Newark, San Leandro, San Lorenzo, and Fremont (his residence during the early part of his tenure), as well as parts of Oakland and Pleasanton. At the time he left office in 2013, he was the fifth most senior Representative, as well as sixth most senior member of Congress overall. He was also the dean of California's 53-member Congressional delegation, and the only openly atheist member of Congress. After 2010 redistricting, Stark's district was renumbered as the 15th district for the 2012 election. He narrowly finished first in the primary ahead of fellow Democrat Eric Swalwell, but lost to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Unemployment Tax Act
The Federal Unemployment Tax Act (or FUTA, ) is a United States federal law that imposes a federal employer tax used to help fund state workforce agencies. Employers report this tax by filing an annual Form 940 with the Internal Revenue Service. In some cases, the employer is required to pay the tax in installments during the tax year. FUTA covers a federal share of the costs of administering the unemployment insurance (UI) and job service programs in every state. In addition, FUTA pays one-half of the cost of extended unemployment benefits (during periods of high unemployment) and provides for a fund from which states may borrow, if necessary, to pay benefits. Legal basis The legality of FUTA has been affirmed in the 1937 Supreme Court case '' Steward Machine Co. v. Davis''. Amount of tax Until June 30, 2011, the Federal Unemployment Tax Act imposed a tax of 6.2%, which was composed of a permanent rate of 6.0% and a temporary rate of 0.2%, which was passed by Congress in 1976. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Reform Act Of 1986
The Tax Reform Act of 1986 (TRA) was passed by the 99th United States Congress and signed into law by President Ronald Reagan on October 22, 1986. The Tax Reform Act of 1986 was the top domestic priority of President Reagan's second term. The act lowered federal income tax rates, decreasing the number of tax brackets and reducing the top tax rate from 50 percent to 28 percent. The act also expanded the earned income tax credit, the standard deduction, and the personal exemption, removing approximately six million lower-income Americans from the tax base. Offsetting these cuts, the act increased the alternative minimum tax and eliminated many tax deductions, including deductions for rental housing, individual retirement accounts, and depreciation. Although the tax reform was projected to be revenue-neutral, it was popularly referred to as the second round of Reagan tax cuts (following the Economic Recovery Tax Act of 1981). The bill passed with majority support in both the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consolidated Omnibus Budget Reconciliation Act Of 1985
The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) is a law passed by the U.S. Congress on a reconciliation basis and signed by President Ronald Reagan that, among other things, mandates an insurance program which gives some employees the ability to continue health insurance coverage after leaving employment. COBRA includes amendments to the Employee Retirement Income Security Act of 1974 (ERISA). The law deals with a great variety of subjects, such as tobacco price supports, railroads, private pension plans, emergency department treatment, disability insurance, and the postal service, but it is perhaps best known for Title X, which amends the Internal Revenue Code and the Public Health Service Act to deny income tax deductions to employers (generally those with 20 or more full-time equivalent employees) for contributions to a group health plan unless such plan meets certain continuing coverage requirements. The violation for failing to meet those criteria w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Highway Revenue Act Of 1982
The Surface Transportation Assistance Act of 1982 was a comprehensive transportation funding and policy act of the United States Federal Government, . The legislation was championed by the Reagan administration to address concerns about the surface transportation infrastructure (highways and bridges). The Act contained Title V, known as the ''Highway Revenue Act of 1982'', which added five cents to the per gallon gas tax (the first such increase since 1961), of which four cents was dedicated to restore interstate highways and bridges, and one cent for public transit. The Act also set a goal of 10 percent for participation of disadvantaged business enterprises in federal-aid projects. Section 165: "Buy America" Act Section 165 (), called the "Buy America" provision or Buy America Act—not to be confused with the 1933-enacted Buy American Act—applies to mass-transit-related procurements. It established requirements intended to give preference to the use of domestical ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Slate (magazine)
''Slate'' is an online magazine that covers current affairs, politics, and culture in the United States. It was created in 1996 by former '' New Republic'' editor Michael Kinsley, initially under the ownership of Microsoft as part of MSN. In 2004, it was purchased by The Washington Post Company (later renamed the Graham Holdings Company), and since 2008 has been managed by The Slate Group, an online publishing entity created by Graham Holdings. ''Slate'' is based in New York City, with an additional office in Washington, D.C. ''Slate'', which is updated throughout the day, covers politics, arts and culture, sports, and news. According to its former editor-in-chief Julia Turner, the magazine is "not fundamentally a breaking news source", but rather aimed at helping readers to "analyze and understand and interpret the world" with witty and entertaining writing. As of mid-2015, it publishes about 1,500 stories per month. A French version, ''slate.fr'', was launched in February ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Review
''National Review'' is an American conservative editorial magazine, focusing on news and commentary pieces on political, social, and cultural affairs. The magazine was founded by the author William F. Buckley Jr. in 1955. Its editor-in-chief is Rich Lowry, while the editor is Ramesh Ponnuru. Since its founding, the magazine has played a significant role in the development of conservatism in the United States, helping to define its boundaries and promoting fusionism while establishing itself as a leading voice on the American right. The online version, ''National Review Online'', is edited by Philip Klein and includes free content and articles separate from the print edition. The free content is limited, but National Review Plus allows ad-free and unlimited access to both online and print articles. History Background Before ''National Review''s founding in 1955, the American right was a largely unorganized collection of people who shared intertwining philosophies ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bruce Bartlett
Bruce Reeves Bartlett (born October 11, 1951) is an American historian and author. He served as a domestic policy adviser to Ronald Reagan and as a Treasury official under George H. W. Bush. Bartlett also writes for the New York Times Economix blog. Bartlett has written several books and magazine articles critical of the George W. Bush administration, asserting that its economic policies significantly departed from traditional conservative principles. Early life and education Bartlett was born in Ann Arbor, Michigan, the son of Marjorie (Stern) and Frank Bartlett. He was educated at Rutgers University (B.A., 1973) and Georgetown University (M.A., 1976). He originally studied American diplomatic history under Lloyd Gardner at Rutgers and Jules Davids at Georgetown. He did a master's thesis on the origins of the Pearl Harbor attack at Georgetown, the substance of which was later published as ''Coverup: The Politics of Pearl Harbor, 1941–1946''. He was closely advised by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Libertarianism
Libertarianism (from french: libertaire, "libertarian"; from la, libertas, "freedom") is a political philosophy that upholds liberty as a core value. Libertarians seek to maximize autonomy and political freedom, and minimize the state's encroachment on and violations of individual liberties; emphasizing the rule of law, pluralism, cosmopolitanism, cooperation, civil and political rights, bodily autonomy, free association, free trade, freedom of expression, freedom of choice, freedom of movement, individualism and voluntary association. Libertarians are often skeptical of or opposed to authority, state power, warfare, militarism and nationalism, but some libertarians diverge on the scope of their opposition to existing economic and political systems. Various schools of Libertarian thought offer a range of views regarding the legitimate functions of state and private power, often calling for the restriction or dissolution of coercive social institutions. Different ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Court Of Appeals For The Ninth Circuit
The United States Court of Appeals for the Ninth Circuit (in case citations, 9th Cir.) is the U.S. federal court of appeals that has appellate jurisdiction over the U.S. district courts in the following federal judicial districts: * District of Alaska * District of Arizona * Central District of California * Eastern District of California * Northern District of California * Southern District of California * District of Hawaii * District of Idaho * District of Montana * District of Nevada * District of Oregon * Eastern District of Washington * Western District of Washington The Ninth Circuit also has appellate jurisdiction over the territorial courts for the District of Guam and the District of the Northern Mariana Islands. Additionally, it sometimes handles appeals that originate from American Samoa, which has no district court and partially relies on the District of Hawaii for its federal cases.https://www.gao.gov/products/GAO-08-1124T GAO (U.S. Government Accounta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Article One Of The United States Constitution
Article One of the United States Constitution establishes the legislative branch of the federal government, the United States Congress. Under Article One, Congress is a bicameral legislature consisting of the House of Representatives and the Senate. Article One grants Congress various enumerated powers and the ability to pass laws " necessary and proper" to carry out those powers. Article One also establishes the procedures for passing a bill and places various limits on the powers of Congress and the states from abusing their powers. Article One Vesting Clause grants all federal legislative power to Congress and establishes that Congress consists of the House of Representatives and the Senate. In combination with the Vesting Clauses of Article Two and Article Three, the Vesting Clause of Article One establishes the separation of powers among the three branches of the federal government. Section 2 of Article One addresses the House of Representatives, establishing that m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Origination Clause
The Origination Clause, sometimes called the Revenue Clause,Wirls, Daniel and Wirls, Stephen. The Invention of the United States Senate', p. 188 (Taylor & Francis 2004). is Article I, Section 7, Clause 1 of the U.S. Constitution. The clause says that all bills for raising revenue must start in the U.S. House of Representatives, but the U.S. Senate may propose or concur with amendments, as in the case of other bills. The Origination Clause stemmed from a British parliamentary practice that all money bills must have their first reading and any other initial readings in the House of Commons before they are sent to the House of Lords. The practice was intended to ensure that the power of the purse is possessed by the legislative body most responsive to the people, but the British practice was modified in America by allowing the Senate to amend these bills. This clause was part of the Great Compromise between small and large states. The large states were unhappy with the lopsided pow ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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