Clinton deficit reduction act
E666917
The Clinton deficit reduction act was a major 1993 U.S. budget law that raised taxes and limited spending in an effort to reduce the federal deficit during President Bill Clinton’s administration.
Statements (48)
| Predicate | Object |
|---|---|
| instanceOf |
United States federal statute
ⓘ
budget reconciliation act ⓘ |
| administration | Clinton administration NERFINISHED ⓘ |
| affects |
Medicare spending
ⓘ
corporate income tax rates ⓘ discretionary spending caps ⓘ federal income tax rates ⓘ |
| category |
1993 in American law
ⓘ
Presidency of Bill Clinton NERFINISHED ⓘ United States federal budget legislation ⓘ |
| codifiedIn | United States Statutes at Large NERFINISHED ⓘ |
| congressNumber | 103rd United States Congress NERFINISHED ⓘ |
| contains |
revenue-raising provisions
ⓘ
spending cuts ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| created | Earned Income Tax Credit expansion ⓘ |
| dateSigned | 1993-08-10 ⓘ |
| economicContext | early 1990s U.S. budget deficits ⓘ |
| hasEffectOn | federal budget deficit in the 1990s ⓘ |
| houseVoteMargin | passed by one vote in the U.S. House of Representatives ⓘ |
| implementedThrough | budget reconciliation process ⓘ |
| includesMeasure |
deficit reduction provisions
ⓘ
spending restraints ⓘ tax increases ⓘ |
| increased |
corporate income tax rate for large corporations
ⓘ
top marginal income tax rate ⓘ |
| intendedEffect |
improve federal fiscal balance
ⓘ
lower long-term interest rates by reducing deficits ⓘ |
| introduced | new higher income tax brackets for high-income taxpayers ⓘ |
| jurisdiction |
United States government
ⓘ
surface form:
federal government of the United States
|
| legislativeBody | United States Congress ⓘ |
| officialName | Omnibus Budget Reconciliation Act of 1993 NERFINISHED ⓘ |
| opposedBy | Republican Party members of Congress NERFINISHED ⓘ |
| partyOfPresident | Democratic Party NERFINISHED ⓘ |
| policyType | fiscal policy ⓘ |
| presidentDuringEnactment | Bill Clinton NERFINISHED ⓘ |
| primaryGoal | reduce the federal budget deficit ⓘ |
| publicLawNumber | Public Law 103-66 NERFINISHED ⓘ |
| raised | taxes on Social Security benefits for some higher-income recipients ⓘ |
| senateVoteMargin | passed with Vice President Al Gore casting tie-breaking vote in the U.S. Senate ⓘ |
| shortName | OBRA-93 NERFINISHED ⓘ |
| signedBy | Bill Clinton ⓘ |
| statutesAtLargeCitation | 107 Stat. 312 ⓘ |
| supportedBy | Democratic Party members of Congress NERFINISHED ⓘ |
| timePeriod | first term of Bill Clinton ⓘ |
| vicePresidentRole | Al Gore cast tie-breaking vote in the Senate ⓘ |
| votingPattern | passed with narrow margins in Congress ⓘ |
| yearEnacted | 1993 ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.