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gptkbp:instanceOf
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gptkb:legislation
|
|
gptkbp:alsoKnownAs
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gptkb:Economic_Recovery_Tax_Act_of_1981
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gptkbp:country
|
gptkb:United_States
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gptkbp:dateEnacted
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August 13, 1981
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gptkbp:debatedBy
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gptkb:Democratic_Party
gptkb:Republican_Party
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gptkbp:effect
|
increased federal budget deficits
reduced federal income tax revenues
stimulated economic growth in early 1980s
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|
https://www.w3.org/2000/01/rdf-schema#label
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Kemp-Roth Tax Cut
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gptkbp:legislature
|
gptkb:97th_United_States_Congress
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gptkbp:mainProvision
|
across-the-board reduction in marginal income tax rates
reduction of the top marginal tax rate from 70% to 50%
accelerated depreciation for businesses
increased expensing for small businesses
indexing of tax brackets for inflation
reduction in estate and gift taxes
reduction of the bottom tax rate from 14% to 11%
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gptkbp:passedBy
|
gptkb:United_States_Congress
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gptkbp:publicLawNumber
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gptkb:Public_Law_97-34
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gptkbp:relatedTo
|
gptkb:Reaganomics
gptkb:Tax_Reform_Act_of_1986
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gptkbp:signedBy
|
gptkb:Ronald_Reagan
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gptkbp:sponsor
|
gptkb:Jack_Kemp
William Roth
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|
gptkbp:bfsParent
|
gptkb:Economic_Recovery_Tax_Act_of_1981
|
|
gptkbp:bfsLayer
|
5
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