Tax Reform Act of 1986
E50001
The Tax Reform Act of 1986 was a landmark U.S. federal law that overhauled the tax code by lowering rates, broadening the tax base, and eliminating many deductions and shelters.
All labels observed (1)
| Label | Occurrences |
|---|---|
| Tax Reform Act of 1986 canonical | 6 |
How this entity was disambiguated
This entity first appeared as the object of triple T394211 — resolving that mention is where its identity was fixed. The disambiguator weighed these candidate entities and picked the highlighted one (or “None”, minting a new entity). This is how homonymy is resolved: the same surface form can point to different entities.
NED1
Entity disambiguation (via context triple)
gpt-5-mini-2025-08-07
Target entity: Tax Reform Act of 1986 Context triple: [99th United States Congress, enacted, Tax Reform Act of 1986]
-
A.
Revenue Act of 1934
The Revenue Act of 1934 was a New Deal-era U.S. federal tax law that increased income and corporate taxes to raise government revenue during the Great Depression.
-
B.
Revenue Act of 1935
The Revenue Act of 1935 was a New Deal-era U.S. federal law that significantly increased taxes on high incomes, large inheritances, and corporate profits in an effort to redistribute wealth during the Great Depression.
-
C.
Wheeler-Rayburn Act
The Wheeler-Rayburn Act is a New Deal-era U.S. federal law that restructured and regulated electric utility holding companies to curb monopolistic practices and protect consumers and investors.
-
D.
Aldrich–Vreeland Act
The Aldrich–Vreeland Act was a 1908 U.S. law that created emergency currency provisions and laid groundwork for banking reform in response to the Panic of 1907.
-
E.
Reaganomics
Reaganomics is the conservative, supply-side economic program of U.S. President Ronald Reagan, emphasizing tax cuts, deregulation, reduced social spending, and tight monetary policy to curb inflation and stimulate growth.
- F. None of above. chosen
- G. Unsure - the case is ambiguous/there is not enough information to decide.
NED2
Entity disambiguation (via description)
gpt-5-mini-2025-08-07
Target entity: Tax Reform Act of 1986 Target entity description: The Tax Reform Act of 1986 was a landmark U.S. federal law that overhauled the tax code by lowering rates, broadening the tax base, and eliminating many deductions and shelters.
-
A.
Revenue Act of 1934
The Revenue Act of 1934 was a New Deal-era U.S. federal tax law that increased income and corporate taxes to raise government revenue during the Great Depression.
-
B.
Revenue Act of 1935
The Revenue Act of 1935 was a New Deal-era U.S. federal law that significantly increased taxes on high incomes, large inheritances, and corporate profits in an effort to redistribute wealth during the Great Depression.
-
C.
Wheeler-Rayburn Act
The Wheeler-Rayburn Act is a New Deal-era U.S. federal law that restructured and regulated electric utility holding companies to curb monopolistic practices and protect consumers and investors.
-
D.
Aldrich–Vreeland Act
The Aldrich–Vreeland Act was a 1908 U.S. law that created emergency currency provisions and laid groundwork for banking reform in response to the Panic of 1907.
-
E.
Reaganomics
Reaganomics is the conservative, supply-side economic program of U.S. President Ronald Reagan, emphasizing tax cuts, deregulation, reduced social spending, and tight monetary policy to curb inflation and stimulate growth.
- F. None of above. chosen
Statements (49)
| Predicate | Object |
|---|---|
| instanceOf |
United States federal statute
ⓘ
tax reform law ⓘ |
| affects |
alternative minimum tax
ⓘ
capital gains taxation ⓘ corporate income tax ⓘ corporate tax preferences ⓘ depreciation rules ⓘ individual income tax ⓘ itemized deductions ⓘ passive activity losses ⓘ tax shelters ⓘ |
| amends |
Internal Revenue Code
ⓘ
surface form:
Internal Revenue Code of 1954
|
| associatedWith | Reagan administration ⓘ |
| broadens |
tax base for corporations
ⓘ
tax base for individuals ⓘ |
| changes | capital gains tax treatment ⓘ |
| considered | landmark tax reform in the United States ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| creates |
Internal Revenue Code
ⓘ
surface form:
Internal Revenue Code of 1986
|
| eliminates |
investment tax credit
ⓘ
many corporate tax shelters ⓘ many individual tax shelters ⓘ |
| enactedBy | 99th United States Congress ⓘ |
| increases |
personal exemptions
ⓘ
standard deduction ⓘ |
| introduces | broader individual alternative minimum tax ⓘ |
| jurisdiction |
United States government
ⓘ
surface form:
United States federal government
|
| legislativeProcess | bipartisan negotiation in Congress ⓘ |
| limits |
itemized deductions
ⓘ
passive activity loss deductions ⓘ |
| longTitle | An Act to reform the internal revenue laws of the United States ⓘ |
| modifies | depreciation schedules ⓘ |
| policyGoal |
increase perceived fairness of the tax system
ⓘ
maintain overall federal revenue levels ⓘ reduce economic distortions from tax preferences ⓘ |
| policyType | revenue-neutral tax reform ⓘ |
| primaryObjective |
broaden the tax base
ⓘ
eliminate many tax shelters ⓘ lower statutory tax rates ⓘ simplify the federal income tax code ⓘ |
| publicLawNumber | Public Law 99-514 ⓘ |
| reduces | number of individual income tax brackets ⓘ |
| shortTitle | Tax Reform Act of 1986 self-link ⓘ |
| signedBy | Ronald Reagan ⓘ |
| signingDate | 1986-10-22 ⓘ |
| topCorporateRateAfterReform | 34 percent ⓘ |
| topCorporateRateBeforeReform | 46 percent ⓘ |
| topIndividualRateAfterReform | 28 percent ⓘ |
| topIndividualRateBeforeReform | 50 percent ⓘ |
How these facts were elicited
The pipeline generated the facts above by prompting gpt-5.1 with this entity's name + description and the instruction below.
Instruction
You are a knowledge base construction expert. Given a subject entity and a description of it, return factual statements that you know for the subject as a JSON list of dictionaries(triples), where keys must be "subject", "predicate" and "object". The number of facts may be very high, between 25 to 50 or more, for very popular subjects. For less popular subjects, the number of facts can be very low, like 5 or 10. # Requirements - If you don't know the subject at all, return an empty list. - If the subject is not a named entity, return an empty list. - Include at least one triple where predicate is "instanceOf". - Do not get too wordy. - Separate several objects into multiple triples with one object.
Input
Subject: Tax Reform Act of 1986 Description of subject: The Tax Reform Act of 1986 was a landmark U.S. federal law that overhauled the tax code by lowering rates, broadening the tax base, and eliminating many deductions and shelters.
Referenced by (6)
Full triples — surface form annotated when it differs from this entity's canonical label.