CIS/Index
Copyright © 1999, Congressional Information
Service, Inc.
2000 CIS H 78128
TITLE: Reducing
the Tax Burden
CIS-NO: 2000-H781-28
SOURCE: Committee on Ways
and Means. House
DOC-TYPE: Hearing Retrieve
the full text of testimony
DATE: June 16, 23, 1999
LENGTH: viii+533 p. il.
CONG-SESS: 106-1
ITEM-NO:
1028-A; 1028-B
SUDOC: Y4.W36:106-24
MC-ENTRY-NO:
2000-17462
SUMMARY:
Committee Serial No.
106-24. Hearings to examine proposals to reduce the tax burden on individuals
and businesses.
Examines proposals to improve retirement income
and health security, including provisions to strengthen retirement plans,
improve availability and affordability of health care and health
insurance, and establish enhanced incentives for personal saving
(Committee advisory, p. 2-4).
Also examines proposals to
strengthen the family and the economy, including provisions to reduce income tax
bias against married couples, revise tax treatment of education expenses, and
extend various expiring tax provisions (Committee advisory, p. 266-268).
Considers the following bills:
H.R. 1102,
the Comprehensive Retirement Security and Pension Reform Act of 2000, and
similar H.R. 1546, the Retirement Savings Opportunity Act, to revise regulation
and tax treatment of pension plans, deferred compensation plans, and individual
retirement accounts to enhance retirement income security.
H.R. 8, the Death Tax Elimination Act of 2000, to provide
for a phased-in repeal of estate and gift taxes and generation-skipping transfer
taxes.
H.R. 1660, the School Construction and
Modernization Act of 1999, to establish tax incentives for bonds issued by State
or local governments to fund construction or rehabilitation of public school
buildings.
H.R. 1358, the Energy Efficient Affordable Home
Act, to establish tax credits for energy efficient home
improvements and construction of new homes meeting specified energy efficiency
standards.
Supplementary material (p. 456-533 and throughout)
includes submitted statements, correspondence, a report, and:
-- American Council for Capital Formation, "UPDATE: An
International Comparison of Incentives for Retirement Saving and Insurance" (p.
9-16).
CONTENT-NOTATION: Tax incentives for individuals
and businesses estab
BILLS: 106
H.R. 1102; 106
H.R. 1546; 106
H.R. 8; 106
H.R. 1660; 106
H.R. 1358
DESCRIPTORS:
TAXATION; INCOME TAXES; TAX INCENTIVES AND SHELTERS;
HEALTH FACILITIES AND SERVICES; PERSONAL SAVINGS; FAMILIES; MARRIAGE; FEDERAL
AID TO EDUCATION; ESTATE TAX; COMPREHENSIVE RETIREMENT SECURITY AND PENSION
REFORM ACT; RETIREMENT INCOME; PENSIONS; DEFERRED COMPENSATION PLANS; INDIVIDUAL
RETIREMENT ACCOUNTS; DEATH TAX ELIMINATION ACT; ESTATE TAX; GIFT TAX; SCHOOL
CONSTRUCTION AND MODERNIZATION ACT; FEDERAL AID TO STATES-EDUCATION; FEDERAL AID
TO LOCAL GOVERNMENTS-EDUCATION; PUBLIC SCHOOLS; MUNICIPAL BONDS; ENERGY
EFFICIENT AFFORDABLE HOME ACT; ENERGY CONSERVATION.IN.BUILDINGS; FEDERAL AID TO
HOUSING; HEALTH INSURANCE
00-H781-28 TESTIMONY NO: 1
June 16, 1999 p. 20-54
WITNESSES (and witness
notations):
JOHNSON, NANCY L. (Rep, R-Conn)
STARK, FORTNEY H. (Rep, D-Calif)
PORTMAN, ROB (Rep, R-Ohio)
CARDIN,
BENJAMIN L. (Rep, D-Md)
JEFFERSON, WILLIAM J. (Rep, D-La)
POMEROY, EARL (Rep, D-NDak)
STATEMENTS AND
DISCUSSION:
Recommendations for tax incentives to improve
health care and health insurance access and affordability;
support for H.R. 1102; suggestions for tax reforms to enhance ability of
individuals to save and attain retirement income security.
CONTENT NOTATION:
Tax incentives for individuals and
businesses estab
00-H781-28 TESTIMONY NO: 2
June 16, 1999 p. 54-111
WITNESSES (and witness
notations):
GOODMAN, JOHN C. (President and CEO, National
Center for Policy Analysis)
BUTLER, STUART M. (Vice
President, Domestic and Economic Policy Studies, Heritage Foundation)
KAHN, CHARLES N., III (President, Health
Insurance Association)
LEHNHARD, MARY N. (Senior
Vice President, Blue Cross and Blue Shield Association)
WILFORD, DAN (President, Memorial Hermann Healthcare
System; representing American Hospital Association)
HOENICKE, JEANNE (Vice President and Deputy General
Counsel, American Council of Life Insurance)
STATEMENTS AND
DISCUSSION:
Suggestions to improve efficiency of Federal
tax incentives for health care and health insurance;
recommendations to establish a new tax credit for health
expenditures; need for tax incentives to expand the number of individuals with
health insurance coverage (related tables, graphs, p. 70-84
passim).
Importance of tax policies to enhance ability of
individuals to attain retirement income security (related charts, graphs, p.
94-98).
CONTENT NOTATION:
Tax incentives
for individuals and businesses estab
TESTIMONY DESCRIPTORS:
NATIONAL CENTER FOR POLICY ANALYSIS; STATISTICAL DATA:
BANKING, FINANCE, AND INSURANCE; STATISTICAL DATA: HEALTH AND VITAL STATISTICS
00-H781-28 TESTIMONY NO: 3 June 16,
1999 p. 112-170
WITNESSES (and witness notations):
STEWART, JACK (Assistant Director, Pensions, Principal
Financial Group; representing Association of Private Pension and Welfare Plans)
CALIMAFDE, PAULA A. (Chair, Small Business Council; also
representing Small Business Legislative Council, American Society of Pension
Actuaries, and Profit Sharing/401(k) Council)
MACDONALD,
J. RANDALL (Executive Vice President, Human Resources and Administration, GTE
Corp.; representing ERISA Industry Committee)
MCCARTHY,
JIM (Vice President and Product Development Manager, Private Client Group,
Merrill Lynch & Co.; representing Savings Coalition)
STATEMENTS AND DISCUSSION:
Support for H.R. 1102 and
other proposals to enhance ability of individuals to save for retirement; merits
of H.R. 1102 provisions to provide incentives for small businesses to sponsor
retirement plans; merits of H.R. 1102 provisions affecting regulation of defined
benefit pension plans; support for H.R. 1546.
CONTENT NOTATION:
Tax incentives for individuals and businesses estab
TESTIMONY DESCRIPTORS:
ASSOCIATION OF
PRIVATE PENSION AND WELFARE PLANS; SMALL BUSINESS
00-H781-28 TESTIMONY NO: 4 June 16, 1999 p. 171-205
WITNESSES (and witness notations):
SLATER,
PHYLLIS H. (President and Owner, Hill Slater, Inc.; also representing National
Association of Women Business Owners)
SANDMEYER, RONALD
P., JR. (President and CEO, Sandmeyer Steel Co.; representing National
Association of Manufacturers)
LOOP, CARL B., JR.
(President, Loop's Nursery and Greenhouses; also representing American Farm
Bureau Federation)
THOMPSON, SKYLAR (President and Chief
Operating Officer, Market Basket Food Stores; representing National Grocers
Association)
COYNE, MICHAEL (Member, Tuckerton Lumber Co.;
representing National Federation of Independent Business)
SPERANZA, PAUL S., JR. (Chair, Tax Committee, Greater
Rochester, N.Y., Metro Chamber of Commerce; also representing Chamber of
Commerce of the U.S., Business Council of New York State, and Food Marketing
Institute)
STATEMENTS AND DISCUSSION:
Importance of estate and gift tax repeal to family-owned
businesses and farms; support for H.R. 8 and other proposals to eliminate the
estate tax; background on and criticism of the estate and gift tax.
CONTENT NOTATION:
Tax incentives for individuals and
businesses estab
TESTIMONY DESCRIPTORS:
HILL SLATER, INC.; FARMS AND FARMERS; SMALL BUSINESS
00-H781-28 TESTIMONY NO: 5 June 23,
1999 p. 270-283
WITNESSES (and witness notations):
TAFT, ROBERT A. (Governor, Ohio; representing coalition
for employment security financing reform)
STATEMENT AND
DISCUSSION:
Arguments for repeal of Federal Unemployment
Tax Act 0.2% employer surtax extended through 2007 by the Tax Relief Act of
1997.
CONTENT NOTATION:
Tax incentives for
individuals and businesses estab
TESTIMONY DESCRIPTORS:
UNEMPLOYMENT COMPENSATION; WITHHOLDING TAX; FEDERAL
UNEMPLOYMENT TAX ACT; TAX RELIEF ACT
00-H781-28
TESTIMONY NO: 6 June 23, 1999 p. 283-324
WITNESSES (and witness notations):
RANGEL, CHARLES B.
(Rep, D-NY)
WELLER, JERRY (Rep, R-Ill)
DANNER, PAT (Rep, D-Mo)
HULSHOF,
KENNY C. (Rep, R-Mo)
GRAHAM, LINDSEY O. (Rep, R-SC)
TURNER, JIM (Rep, D-Tex)
MCINTOSH,
DAVID M. (Rep, R-Ind)
BAIRD, BRIAN (Rep, D-Wash)
CLEMENT, BOB (Rep, D-Tenn)
CROWLEY,
JOSEPH (Rep, D-NY)
STATEMENTS AND DISCUSSION:
Support for bills to establish tax incentives to benefit
individuals and businesses; merits of various education-related tax proposals,
including H.R. 1660; need to eliminate income tax system bias against married
couples.
CONTENT NOTATION:
Tax incentives
for individuals and businesses estab
00-H781-28
TESTIMONY NO: 7 June 23, 1999 p. 325-360
WITNESSES (and witness notations):
BENNETT, MARSHALL
(State Treasurer, Mississippi; representing College Savings Plans Network)
KEPPLE, THOMAS, JR. (President, Juniata College; also
representing Tuition Plan Consortium)
GRAYSON, JERRY
(Regional Director, Computers for Schools Program, Detwilder Foundation)
GILLESPIE, CHRISTINA (Dr.) (recipient, National Health
Service Corps Scholarship)
BARATTA, JEFFREY A. (Investment
Banker, Stone & Youngberg; representing California-Federal School
Infrastructure Coalition)
ZEDALIS, PATRICIA (Chief
Executive, Division of School Facilities, NYC Board of Education; on behalf of)
SPENCE, LEWIS H. (Deputy Chancellor, Operations, NYC Board
of Education)
STATEMENTS AND DISCUSSION:
Need for tax incentives to encourage families to save for
higher education expenses; importance of tax-favored treatment of
State-sponsored college tuition savings plans; support for H.R. 1660;
recommendations regarding various education-related tax incentives.
CONTENT NOTATION:
Tax incentives for individuals and
businesses estab
TESTIMONY DESCRIPTORS:
COLLEGE SAVINGS PLANS NETWORK; FEDERAL AID TO HIGHER
EDUCATION; FEDERAL AID TO STATES-EDUCATION; COLLEGES AND UNIVERSITIES
00-H781-28 TESTIMONY NO: 8 June 23, 1999 p.
360-421
WITNESSES (and witness notations):
BAROODY, MICHAEL E. (Senior Vice President, Policy,
Communications and Public Affairs, National Association of Manufacturers)
CAPPS, R. RANDALL (Corporate Tax Director, Electronic Data
Systems Corp.; also representing R&D Credit Coalition)
BLOOMFIELD, MARK (President, American Council for Capital
Formation)
MCCANTS, LARRY (President, Chairman, and CEO,
First National Bank; representing American Bankers Association)
GREENBERG, ARTHUR (Counsel, Equity Group Investments; also
representing National Realty Committee and seven other real estate
organizations)
LEONARD, CHARLES H. (Senior Vice President,
Chief Financial Officer, and Treasurer, Texas Eastern Products Pipeline Co.;
representing Coalition of Publicly Traded Partnerships)
STATEMENTS AND DISCUSSION:
Suggestions for tax reforms
to stimulate economic growth; support for permanent extension of the business
R&D tax credit; impact of current and proposed tax policies
on savings, investment, and the economy (related tables, graphs, p. 381-384).
Review of tax reform issues affecting the real estate
business; elaboration on tax issues impacting economic growth (related rpt, p.
409-414).
CONTENT NOTATION:
Tax incentives
for individuals and businesses estab
TESTIMONY DESCRIPTORS:
NATIONAL ASSOCIATION OF REAL ESTATE INVESTMENT TRUSTS;
RESEARCH; BUSINESS; INVESTMENTS; REAL ESTATE BUSINESS
00-H781-28 TESTIMONY NO: 9 June 23, 1999 p. 421-456
WITNESSES (and witness notations):
MOORE,
W. HENSEN (President and CEO, American Forest and Paper Association)
ANDREWS, MICHAEL A. (Trustee, National Trust for Historic
Preservation)
WOLYN, MICHAEL A. (Executive Director,
National Alliance of Sales Representatives Associations)
NEMTZOW, DAVID M. (President, Alliance To Save Energy;
representing Coalition for Energy-Efficient Homes)
WALLACE, ERIC P. (certified public accountant;
representing Associated Builders and Contractors)
MCMULLIN, RUTH R. (Chairperson, Eagle-Picher Personal
Injury Settlement Trust)
HENDERSON, ROOSEVELT
(beneficiary, Eagle-Picher Personal Injury Settlement Trust)
STATEMENTS AND DISCUSSION:
Support for proposals to
provide tax incentives to benefit various business sectors and individuals;
merits of H.R. 1358.
CONTENT NOTATION:
Tax
incentives for individuals and businesses estab
TESTIMONY
DESCRIPTORS:
AMERICAN FOREST AND PAPER ASSOCIATION
LOAD-DATE: July 6, 2001