Bank soundness in light of the Tax Reform Act of 1986 and possible Glass-Steagall Act repeal
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Bank soundness in light of the Tax Reform Act of 1986 and possible Glass-Steagall Act repeal

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Published by Congressional Research Service, Library of Congress in [Washington, D.C.] .
Written in English


  • Banks and banking -- United States,
  • Bank management -- United States,
  • Asset-liability management -- United States

Book details:

Edition Notes

Statementby Walter W. Eubanks
SeriesMajor studies and issue briefs of the Congressional Research Service -- 1988-89, reel 11, fr. 0950
ContributionsLibrary of Congress. Congressional Research Service
The Physical Object
Paginationiii, 19 p.
Number of Pages19
ID Numbers
Open LibraryOL15457351M

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Tax Reform Act of The Tax Reform Act of ( Stat. , 26 U.S.C.A. §§ 47, ) made major changes in how income was taxed. The act either altered or eliminated many deductions, changed the tax rates, and eliminated several special calculations that had been permitted on the basis of marriage or fluctuating income. General Explanation of the Tax Reform Act of , Pub. L. ; 99th Cong., H.R. (JCS) Transfers of intangibles to related parties (sec. of the Act and secs. , , and of the Code) fn16 Prior Law and Background In general A U.S. taxpayer may transfer intangibleFile Size: 39KB. 2. Rates for capital gains. ( Act, § ). The Act effectively repeals the alternative tax of old Code § Thus, net capital gain will be taxed at regular corporate rates (generally a maximum of 34 percent). The conference report specifically states that the current statutory structure for . The Tax Reform Act of , which was signed into law twenty years ago this month, was considered at the time one of the most significant pieces of legislation ever passed. The fact that Congress went against the wishes of powerful lobbyists in overwhelmingly passing such legislation was seen as a triumph of the American : Andrew Chamberlain.

Tax Reform Act of put in place the most sweeping revision in the his-tory of tax law. It provides for major reductions in the top tax rate for indi-viduals and corporations; the individ-ual top rate for will be the lowest since It reverses a year erosion in the tax burden of cor-porations. It File Size: 2MB. The Tax Reform Act of was a landmark law. It affected every American family, every American business. It significantly reduced taxes for individuals. It eliminated many tax benefits for special interests. The tax reform leveled the playing field. No longer could a wealthy individual escape taxes by buying into a shelter. No longer. At the onset of the Tax Reform Act, market interest rates were % (FHLMC data for ). Just prior to the implementation of the Tax Reform Act of , market rates had fallen to %. From to the ACRS class life ratcheted upward from 15 to 19 years thereby reducing theFile Size: 33KB. Corporate Business Activity Before and After the Tax Reform Act of by Patrick J. Wilkie, James C Young, and Sarah E. Nutter T he Tax Reform Act of (TRA 86) marked an' important shift in Federal income tax policy. While previous tax acts provided incentives or disincentives for various business activities and industries.