Statements (102)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
gptkb:United_States_federal_law
|
| gptkbp:affects |
corporate income tax
individual income tax capital gains tax alternative minimum tax tax treatment of investment income tax treatment of real estate |
| gptkbp:amendedBy |
gptkb:Internal_Revenue_Code
|
| gptkbp:dateEnacted |
October 22, 1986
|
| gptkbp:debatedBy |
gptkb:99th_United_States_Congress
|
| gptkbp:eliminatedIn |
many tax deductions
many tax shelters |
| gptkbp:enactedBy |
gptkb:United_States_Congress
|
| https://www.w3.org/2000/01/rdf-schema#label |
Tax Reform Act of 1986
|
| gptkbp:improves |
personal exemption
standard deduction |
| gptkbp:increasedBottomTaxRate |
11% to 15%
|
| gptkbp:prohibits |
deductibility of interest
deductibility of passive losses |
| gptkbp:publicLawNumber |
gptkb:Public_Law_99-514
|
| gptkbp:purpose |
broaden the tax base
eliminate many tax shelters simplify the income tax code |
| gptkbp:reducedCorporateTaxRate |
46% to 34%
|
| gptkbp:reducedTopIndividualTaxRate |
50% to 28%
|
| gptkbp:repealedBy |
deduction for state and local lottery winnings taxes
deduction for state and local gambling winnings taxes deduction for state and local personal property taxes deduction for state and local gaming winnings taxes deduction for casualty and theft losses deduction for consumer loan interest deduction for employee business expenses deduction for medical insurance premiums deduction for miscellaneous itemized deductions deduction for moving expenses deduction for political contributions deduction for state and local admissions taxes deduction for state and local alcohol taxes deduction for state and local amusement taxes deduction for state and local baccarat taxes deduction for state and local bed taxes deduction for state and local betting taxes deduction for state and local bingo taxes deduction for state and local blackjack taxes deduction for state and local business taxes deduction for state and local casino taxes deduction for state and local cigarette taxes deduction for state and local convention taxes deduction for state and local craps taxes deduction for state and local dog racing taxes deduction for state and local entertainment taxes deduction for state and local excise taxes deduction for state and local franchise taxes deduction for state and local gambling taxes deduction for state and local gaming taxes deduction for state and local gasoline taxes deduction for state and local horse racing taxes deduction for state and local hotel taxes deduction for state and local income taxes deduction for state and local keno taxes deduction for state and local license taxes deduction for state and local lottery taxes deduction for state and local motor vehicle taxes deduction for state and local occupancy taxes deduction for state and local occupation taxes deduction for state and local parking taxes deduction for state and local poker taxes deduction for state and local pool taxes deduction for state and local property taxes deduction for state and local raffle taxes deduction for state and local real estate taxes deduction for state and local recreation taxes deduction for state and local resort taxes deduction for state and local room taxes deduction for state and local roulette taxes deduction for state and local sales tax deduction for state and local severance taxes deduction for state and local slot machine taxes deduction for state and local sports taxes deduction for state and local stadium taxes deduction for state and local sweepstakes taxes deduction for state and local telephone taxes deduction for state and local tourism taxes deduction for state and local utility taxes deduction for tax preparation fees deduction for travel and entertainment expenses deduction for two-earner married couples income averaging investment tax credit deduction for state and local professional license taxes deduction for state and local occupation license taxes deduction for state and local sweepstakes winnings taxes deduction for state and local casino winnings taxes deduction for state and local business license taxes |
| gptkbp:shortName |
gptkb:TRA_86
|
| gptkbp:signedBy |
gptkb:Ronald_Reagan
|
| gptkbp:sponsor |
gptkb:Dan_Rostenkowski
gptkb:Bob_Packwood |
| gptkbp:title |
gptkb:Tax_Reform_Act_of_1986
|
| gptkbp:bfsParent |
gptkb:Ronald_Reagan
gptkb:United_States_federal_law |
| gptkbp:bfsLayer |
4
|