The United States Revenue Act of 1964 (Pub. L.Tooltip Public Law (United States) 88–272), also known as the Tax Reduction Act, was a tax cut act proposed by President John F. Kennedy, passed by the 88th United States Congress, and signed into law by President Lyndon B. Johnson. The act became law on February 26, 1964.
Kennedy proposed the bill on the advice of Keynesian economist Walter Heller, who believed that temporary deficit spending would boost economic growth. The act was initially blocked by Democrats like Senator Harry F. Byrd, but Lyndon Johnson was able to guide it through Congress after the assassination of Kennedy in November 1963. The act cut federal income taxes by approximately twenty percent across the board, and the top federal income tax rate fell from 91 percent to 70 percent. The act also reduced the corporate tax from 52 percent to 48 percent and created a minimum standard deduction.
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United States RevenueActof1964 (Pub. L.Tooltip Public Law (United States) 88–272), also known as the Tax Reduction Act, was a tax cut act proposed by...
The Civil Rights Actof1964 (Pub. L.Tooltip Public Law (United States) 88–352, 78 Stat. 241, enacted July 2, 1964) is a landmark civil rights and labor...
Johnson: "Remarks Upon Signing the Food Stamp Act.," August 31, 1964". The American Presidency Project. University of California - Santa Barbara. This article...
President John F. Kennedy the top marginal rate was decreased in the RevenueActof1964 to 70%. In 1980 Ronald Reagan was elected and promised to cut the...
Internal Revenue Code to enforce such forfeitures. Section 107 allowed the secretary to issue regulations to put into force the Coinage Actof 1965, while...
volume, The Passage of Power, Caro covers Johnson's life from 1958 to 1964, the challenges Johnson faced upon his assumption of the presidency, and the...
often listed: The RevenueAct 1767 passed on 29 June 1767. The Commissioners of Customs Act 1767 passed on 29 June 1767. The Indemnity Act 1767 passed on...
congressional revenueactof the United States originally introduced in Congress as the Tax Cuts and Jobs Act (TCJA), that amended the Internal Revenue Code of 1986...
number of occasions, Congress has restricted the types of state and local taxes that can be used with the SALT deduction. The RevenueActof1964 restricted...
Opportunity Act. Since its inception in 1964 under the Economic Opportunity Act, Job Corps has served more than 2 million young people. As of 2019, Job...
December 11, 1978) was an American businessman. He was the younger brother of President Lyndon B. Johnson. Sam Houston Johnson was born in Johnson City...
The United States RevenueActof 1962 established a 7% investment tax credit and required information reporting to the government for interest and dividend...
The RevenueAct 1766 (6 Geo. 3. c. 52) was an Act passed by the Parliament of Great Britain in response to objections raised to the Sugar Act 1763. The...
The Bureau of Internal Revenue (Filipino: Kawanihan ng Rentas Internas, or BIR) is a revenue service for the Philippine government, which is responsible...
globalization, and market forces are the root causes of income and overall economic inequality. The RevenueActof1964 and the "Bush Tax Cuts" coincide with the...
as part of the RevenueActof 1862. Section 7803 of the Internal Revenue Code provides for the appointment of a Commissioner of Internal Revenue to administer...
Act was passed in 1966. The National Wild and Scenic Rivers System and the National Trails System were established in 1968. The RevenueActof1964 reduced...
"The Stamp Actof 1765 - A Serendipitous Find". The Revenue Journal. XX (3). The Revenue Society: 87–89. "A Summary of the 1765 Stamp Act". Education...
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