Revenue Reconciliation Act of 1993

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Revenue Reconciliation Act of 1993

Legislation created to reduce the federal budget deficit by cutting spending and increasing taxes.

Revenue Reconciliation Act of 1993

Legislation in the United States that raised certain taxes on certain income, including on some entitlements like Social Security. It was part of the broader Omnibus Budget Reconciliation Act of 1993, which raised taxes and cut some government spending in order to reduce the federal deficit. The Act came out of a theory that large deficits lead to inflation; this theory was rejected by both New Deal liberals and supply-side economics conservatives, both of whom believed that deficits are relatively unimportant. While the theory behind the Act remains controversial, it led to a projected budget surplus toward the end of the 1990s.
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Observation: The Conference Committee's Statement of the Managers for the Revenue Reconciliation Act of 1990, p.
The Revenue Reconciliation Act of 1993 allows real estate professionals, who spend the majority of their time engaged in real estate activities, to avoid the passive loss limitations.
One of the more significant elements of the debate over passage of the Revenue Reconciliation Act of 1993 dealt with the retroactive effective dates of certain tax provisions of the law.
3 million due to a change in federal tax laws under the Revenue Reconciliation Act of 1993.
then offered an amendment that would have repealed the tax increase on Social Security benefits included in the Revenue Reconciliation Act of 1993.
The Revenue Reconciliation Act of 1993 aims many of its tax increases at "wealthy" taxpayers.
These additional cash dividends, which are taxable under the Internal Revenue Code, may include long-term capital gains as well as ordinary income arising from gains upon the sale of securities held for one year or less and, pursuant to the Revenue Reconciliation Act of 1993, market discount realized upon the sale of securities.
The reduction in the top tax rate on capital gains to 15% by the Jobs and Growth Tax and Revenue Reconciliation Act of 2003, makes ISOs more valuable than ever to employees who meet the applicable holding periods and for companies to attract and retain talent.
The section 133 interest exclusion for qualified ESOP lenders was first restricted by the Revenue Reconciliation Act of 1989 (RRA).
Financial and Tax Issues Following passage of the Revenue Reconciliation Act, small and mid sized business owners will continue to identify ways to reduce costs and exposure.
The Revenue Reconciliation Act of 1993 has again made modifications in the treatment of moving expenses effective for costs incurred after December 31, 1993.
These additional cash distributions, which are taxable under the Internal Revenue Code, may include long-term capital gains as well as ordinary income arising from gains upon the sale of securities held for one year or less and, pursuant to the Revenue Reconciliation Act of 1993, market discount realized upon the sale of securities.