Revenue and Expenditure Control Act of 1968
Revenue and Expenditure Control Act of 1968
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Long title |
An Act to increase revenues, to limit expenditures and new obligational authority, and for other purposes. |
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Enacted by |
the 90th United States Congress |
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Effective |
June 28, 1968 |
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Citations |
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Public Law |
90-364 |
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Statutes at Large |
82 Stat. 251 |
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Codification |
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Titles amended |
26 U.S.C.: Internal Revenue Code |
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U.S.C. sections amended |
I.R.C. ch. 1 §§ 101-110, 201-205, 301-303 |
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Legislative history |
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- Introduced in the House as H.R. 15414
- Passed the Senate on April 2, 1968 (57-31)
- Passed the House on June 20, 1968 (257-162)
- Reported by the joint conference committee on June 20, 1968; agreed to by the House on June 20, 1968 (268-150) and by the Senate on June 21, 1968 (64-16)
- Signed into law by President Lyndon Johnson on June 28, 1968
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The United States Revenue and Expenditure Control Act of 1968 created a temporary 10 percent income tax surcharge on both individuals and corporations through June 30, 1969.
It also delayed the scheduled reduction in the telephone and automobile excise taxes.