OBRA-93
E666916
OBRA-93 is a U.S. federal law enacted in 1993 that significantly raised taxes on higher-income individuals and corporations and implemented major deficit-reduction measures as part of President Bill Clinton’s economic program.
Statements (47)
| Predicate | Object |
|---|---|
| instanceOf |
United States federal law
ⓘ
budget reconciliation act ⓘ |
| aimedAt |
deficit reduction
ⓘ
reducing federal budget deficit ⓘ |
| appliesTo |
corporations
ⓘ
higher-income taxpayers ⓘ |
| branchOfGovernment | legislative branch ⓘ |
| containsProvision |
deficit-reduction measures
ⓘ
spending cuts ⓘ tax increases ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| dateSigned | 1993-08-10 ⓘ |
| enactedInYear | 1993 ⓘ |
| followedBy | Balanced Budget Act of 1997 NERFINISHED ⓘ |
| hasAcronym | OBRA-93 NERFINISHED ⓘ |
| hasEffectOn |
corporate tax rates
ⓘ
earned income tax credit ⓘ federal budget deficit ⓘ federal revenues ⓘ income tax rates ⓘ |
| hasLongTermEffect | contributed to reduction of projected federal deficits ⓘ |
| hasOfficialName | Omnibus Budget Reconciliation Act of 1993 NERFINISHED ⓘ |
| historicalContext | early Bill Clinton administration fiscal reforms ⓘ |
| introducedTaxPolicyChange |
expanded earned income tax credit
ⓘ
increased corporate income taxes ⓘ increased fuel taxes ⓘ increased taxes on higher-income individuals ⓘ raised corporate income tax rate ⓘ raised top marginal income tax rate ⓘ |
| jurisdiction |
United States government
ⓘ
surface form:
United States federal government
|
| language | English ⓘ |
| legalStatus | in force (as amended) ⓘ |
| legislativeBody | United States Congress ⓘ |
| legislativeProcess | budget reconciliation process ⓘ |
| locatedInLegalCode | Public Law 103-66 NERFINISHED ⓘ |
| opposedBy | Republican Party members of Congress NERFINISHED ⓘ |
| partOf | Bill Clinton economic program NERFINISHED ⓘ |
| policyType |
budget policy
ⓘ
fiscal policy ⓘ tax policy ⓘ |
| precededBy | Omnibus Budget Reconciliation Act of 1990 NERFINISHED ⓘ |
| presidentDuringEnactment | Bill Clinton NERFINISHED ⓘ |
| signedBy | Bill Clinton ⓘ |
| subjectMatter |
federal budget
ⓘ
public finance ⓘ taxation ⓘ |
| supportedBy | Democratic Party members of Congress ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.