Congressional Research Service Reports - 721 Matching Results

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Fact Sheet on Congressional Tax Proposals in the 108th Congress

Description: This report discusses the President, House and Senate tax proposals. Beyond the comprehensive tax proposals, both the House and the Senate have considered a range of targeted tax proposals. One of the first tax-related measures considered during the 108th Congress would provide tax reductions to armed services personnel. Congress has also initiated reconsideration of legislation not completed in the 107th Congress: tax incentives for charitable giving deductions, pension diversification, energy taxation, and tax shelters.
Date: May 16, 2003
Creator: Richards, Don C.
Partner: UNT Libraries Government Documents Department

Export Tax Benefits and the WTO: Foreign Sales Corporations and the Extraterritorial Replacement Provisions

Description: The U.S. tax code’s Foreign Sales Corporation (FSC) provisions provided a tax benefit for U.S. exporters. However, the European Union (EU) in 1997 charged that the provision was an export subsidy and thus contravened the World Trade Organization (WTO) agreements. A WTO ruling upheld the EU complaint, and to avoid WTO sanctioned retaliatory tariffs, U.S. legislation in November 2000 replaced FSC with the “extraterritorial income” (ETI) provisions, consisting of a redesigned export tax benefit of the same magnitude as FSC. The EU maintained that the new provisions are also not WTO-compliant and asked the WTO to rule on the matter.
Date: May 15, 2003
Creator: Brumbaugh, David L.
Partner: UNT Libraries Government Documents Department

Charitable Choice, Faith-Based Initiatives, and TANF

Description: The 108th Congress has resumed efforts to pass tax incentives for private giving (S. 476, passed by the Senate on April 9, and H.R. 7, introduced May 7, 2003). However, these bills do not contain provisions intended to promote religious organizations as providers of federally funded social services – charitable choice provisions.. The House voted in 2001 to extend charitable choice rules, which now apply to a limited set of programs, to numerous new programs (H.R. 7 in the 107th Congress), as the President urged, but the Senate refused. However, in an Executive Order, President Bush on December 12, 2002, directed six cabinet-level departments and the Agency for International Development (AID) to bring policies concerning social service programs into line with charitable choice principles set forth in the Order.
Date: May 9, 2003
Creator: Burke, Vee
Partner: UNT Libraries Government Documents Department

Small Business Tax Relief: Proposals in the 108th Congress and Their Economic Justification

Description: This report examines the economic arguments for and against small business tax subsidies in the context of current congressional proposals to expand them. It begins with a brief description of current federal tax subsidies for small firms, moves on to consider the principal economic arguments for and against these subsidies, and concludes with a discussion of proposals in the 108th Congress to expand small business tax subsidies and their likely economic effects.
Date: May 9, 2003
Creator: Guenther, Gary
Partner: UNT Libraries Government Documents Department

A Value-Added Tax Contrasted with a National Sales Tax

Description: Proposals to replace all or part of the income tax, proposals for national health care, and a proposal to finance America’s war effort have sparked congressional interest in the possibility of a broad-based consumption tax as a new source of revenue. A value-added tax (VAT) or a national sales tax (NST) have been frequently discussed as possible new tax sources. Both the VAT and the NST are taxes on the consumption of goods and services and are conceptually similar. Yet, these taxes also have significant differences. This issue brief discusses some of the potential policy implications associated with these differences.
Date: May 1, 2003
Creator: Bickley, James M.
Partner: UNT Libraries Government Documents Department

Estate Tax Legislation in the 108th Congress

Description: Under provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA, P.L. 107-16, enacted June 7, 2001), the estate tax is scheduled to be repealed in 2010 but reinstated in 2011. All tax cut provisions of EGTRRA are scheduled to sunset on December 31, 2010. This report tracks actions in the 108th Congress to permanently repeal the estate tax or to retain but alter the tax.
Date: April 23, 2003
Creator: Noto, Nonna A.
Partner: UNT Libraries Government Documents Department

A History of Federal Estate, Gift, and Generation-Skipping Taxes

Description: In this report, the history of the federal transfer taxes, has been divided into four parts: (1) the federal death and gift taxes utilized in the period 1789 to 1915; (2) the development of the modern estate and gift taxes from 1916 through 1975; (3) the creation and refinement of a unified estate and gift tax system, supplemented by a generation-skipping transfer tax; and (4) the phase out and repeal of the estate and generation-skipping taxes, with the gift tax being retained as a device to protect the integrity of the income tax.
Date: April 9, 2003
Creator: Luckey, John R.
Partner: UNT Libraries Government Documents Department

Energy Tax Policy

Description: Omnibus energy legislation (H.R. 4) that is now in conference would expand energy tax incentives significantly. The House passed the bill on August 2, 2001, and the Senate approved its version April 25, 2002. Several energy tax issues are addressed in these bills: 1) tax incentives to increase the supply of oil and gas, and the demand for coal; 2) energy tax issues relating to energy conservation and energy efficiency; 3) energy tax issues relating to alternative fuels; 4) selected issues relating to electricity restructuring; and 5) expiring energy tax provisions.
Date: April 8, 2003
Creator: Lazzari, Salvatore
Partner: UNT Libraries Government Documents Department

Energy Tax Policy

Description: Omnibus energy legislation (H.R. 4) that is now in conference would expand energy tax incentives significantly. The House passed the bill on August 2, 2001, and the Senate approved its version April 25, 2002. Several energy tax issues are addressed in these bills: 1) tax incentives to increase the supply of oil and gas, and the demand for coal; 2) energy tax issues relating to energy conservation and energy efficiency; 3) energy tax issues relating to alternative fuels; 4) selected issues relating to electricity restructuring; and 5) expiring energy tax provisions.
Date: March 28, 2003
Creator: Lazzari, Salvatore
Partner: UNT Libraries Government Documents Department