Deficit Reduction Act of 1984

The Deficit Reduction Act of 1984 (Pub.L. 98–369), also known as the DEFRA, was a federal law enacted in the United States in 1984.^[1] Originally part of the stalled Tax Reform Act of 1983, it was adjusted and reintroduced as the Tax Reform Act of 1984. After passing in the House, it was merged with the Senate version into its final form. Collectively known as the Deficit Reduction Act of 1984, it was signed into law by president Ronald Reagan on July 18, 1984.^[2]

Summary of provisions

The Office of Tax Analysis of the United States Department of the Treasury summarized the tax changes as follows:^[3]

repealed scheduled 15% net interest exclusion ($900 cap)

reduced benefits from income averaging

reduced tax benefits for property leased by tax exempt entities

temporarily extended telephone excise tax (through 1987)

increased depreciation lives for real property from 15 years to 18 years

References

↑ Pub.L. 98–369, 98 Stat. 494
↑ United States Department of the Treasury: Internal Revenue Service. "Deficit Reduction Act of 1984" (PDF). Retrieved 2010-11-12.
↑ Office of Tax Analysis (2003, rev. September 2006). "Revenue Effects of Major Tax Bills" (PDF). United States Department of the Treasury. Working Paper 81, page 12. Retrieved 2009-07-18. Check date values in: |date= (help)

External links

Full text of the Act

Tax Acts of the United States

Internal Revenue	1861 1862 1864 1913 1916 1917 1918 1921 1924 1926 1928 1932 1934 1935 1936 1940 1940 (2nd) 1941 1942 1943 1943 1944 1945 1948 1950 1950 1951 1954 1954 Code 1962 1964 1968 1969 1971 1975 1976 1977 1978 1981 1982 Gas Tax 1984 COBRA 1986 1986 Code 1990 1993 1996 1997 1998 2001 2002 2003 2004 2005 2006 2008 Crisis 2009 2010 2012

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