Public Law 97-248
E1036655
Public Law 97-248 is the formal designation of the Tax Equity and Fiscal Responsibility Act of 1982, a major U.S. federal law that increased taxes and implemented budgetary reforms to reduce the national deficit.
All labels observed (1)
| Label | Occurrences |
|---|---|
| Public Law 97-248 canonical | 1 |
Statements (49)
| Predicate | Object |
|---|---|
| instanceOf |
United States federal statute
ⓘ
budget reconciliation act ⓘ tax law ⓘ |
| affectedProgram |
Medicaid
NERFINISHED
ⓘ
Medicare NERFINISHED ⓘ Social Security NERFINISHED ⓘ |
| aimedAt | deficit reduction ⓘ |
| amends |
Internal Revenue Code of 1954
NERFINISHED
ⓘ
Social Security Act NERFINISHED ⓘ |
| appliesTo | federal taxpayers ⓘ |
| branch | legislative branch ⓘ |
| codifiedIn |
Title 26 of the United States Code
NERFINISHED
ⓘ
Title 42 of the United States Code NERFINISHED ⓘ |
| containsTitle |
Title III—Medicare and Medicaid Provisions
ⓘ
Title II—Social Security Amendments NERFINISHED ⓘ Title IV—Miscellaneous Provisions ⓘ Title I—Tax Provisions NERFINISHED ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| enactedBy | 97th United States Congress NERFINISHED ⓘ |
| hasEffectOn | federal budget process ⓘ |
| historicalSignificance | largest peacetime tax increase in U.S. history at time of enactment ⓘ |
| increased |
corporate income tax revenues
ⓘ
individual income tax revenues ⓘ |
| introduced | withholding on interest and dividends ⓘ |
| jurisdiction |
United States government
ⓘ
surface form:
United States federal government
|
| language | English ⓘ |
| legislativeProcess | budget reconciliation ⓘ |
| modified | accelerated depreciation rules ⓘ |
| officialName | Tax Equity and Fiscal Responsibility Act of 1982 NERFINISHED ⓘ |
| partOf | Reagan administration economic policy NERFINISHED ⓘ |
| publicLawNumber | 97-248 ⓘ |
| purpose |
implement budgetary reforms
ⓘ
increase federal tax revenues ⓘ reduce the federal budget deficit ⓘ |
| region |
United States of America
ⓘ
surface form:
United States
|
| restricted | use of tax shelters ⓘ |
| shortName | TEFRA NERFINISHED ⓘ |
| signedBy | Ronald Reagan ⓘ |
| signingDate | 1982-09-03 ⓘ |
| statutesAtLargeCitation | 96 Stat. 324 ⓘ |
| subject |
Medicare financing
ⓘ
budget process ⓘ corporate taxation ⓘ excise taxes ⓘ federal income tax ⓘ tax shelters ⓘ withholding of tax ⓘ |
| typeOfAct | revenue-raising act ⓘ |
| yearEnacted | 1982 ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.