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The President’s Tax Proposals to the Congress for Fairness, Simplicity, and Growth, May 1985-05/01/1985


General Explanations

Table of Contents

Section I. Individual Income Taxes

Chapter 1: Reduce Marginal Tax Rates
Chapter 2: Increase Fairness for Families

Chapter 3: Make the System More Fair and Neutral (complete – 7MB)

Part A – Excluded Sources of Income—Fringe Benefits
Part B – Excluded Sources of Income—Wage Replacement Payments
Part C – Excluded Sources of Income—Other
Part D – Preferred Uses of Income
Part E – Tax Abuses—Mixed Business/Personal Use
Part F – Tax Abuses—Income Shifting

Chapter 4: Simplify the System of Filing
Chapter 5: Other Miscellaneous Reforms

Section II. Business and Capital Income Taxes

Chapter 6: Revise the Taxation of Corporate Income
Chapter 7: Revise the Taxation of Business Property and Capital Assets
Chapter 8: Measure Income Properly
Chapter 9: Revise Taxation of Energy and Natural Resources

Chapter 10: Reform Taxation of Financial Institutions (complete – 2MB)

Part A – Commercial Banks and Thrift Institutions
Part B – Life Insurance Companies and Products
Part C – Property and Casualty Insurance Companies

Chapter 11: Reform Treatment of State and Local Government Debt and Investments
Chapter 12: Modify Other Specific Subsidies
Chapter 13: Curtail Tax Shelters
Chapter 14: Revise Treatment of Retirement Savings
Chapter 15: Reform International Taxation

Appendices (combined A to C – 14MB)

Appendix A: Expiring Tax Provisions
Appendix B: Effective Dates and Transition Rules
Appendix C: Change in Receipts by Source

The President’s Tax Proposals (complete – 23MB)


Last Updated: 12/1/2010 3:29 AM

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