Y 4.F 49: S. hrg. 98-205 S. Hao. 98-205 HRG. 1983-84 MISCELLANEOUS TAX BILLS, II HEARING BEFORE THE SUBCOMMITTEE ON 22-894 O TAXATION AND DEBT MANAGEMENT OF THE COMMITTEE ON FINANCE UNITED STATES SENATE NINETY-EIGHTH CONGRESS CIS RECORD ONLY: FIRST SESSION S. 654, S. 738, S. 1147, S. 1194, and S. 1195 ON MAY 27, 1983 Printed for the use of the Committee on Finance JONSSON U.S. GOVERNMENT PRINTING OFFICE WASHINGTON: 1983 STANFORD UNIVERSITY FEB 1984 LIBRARY OF GOVT DOCUMENTS COMMITTEE ON FINANCE ROBERT J. DOLE, Kansas, Chairman BOB PACKWOOD, Oregon RUSSELL B. LONG, Louisiana SPARK M. MATSUNAGA, Hawaii DANIEL PATRICK MOYNIHAN, New York MAX BAUCUS, Montana RODERICK A. DEARMENT, Chief Counsel and Staff Director JOHN C. DANFORTH, Missouri SUBCOMMITTEE ON TAXATION AND DEBT MANAGEMENT BOB PACKWOOD, Oregon, Chairman SPARK M. MATSUNAGA, Hawaii (II) CONTENTS ADMINISTRATION WITNESS Hon. John E. Chapoton, Assistant Secretary for Tax Policy, Department of PUBLIC WITNESSES American Council on Education, James C. Olson Association of American Universities, James C. Olson Computer and Business Equipment Manufacturers Association, Kevin T. Con- Considine, Kevin T., on behalf of Computer and Business Equipment Manu- Cramer, David, managing director, PUMP Financial Services, Inc................ McCrea, Dr. Peter F., for Scientific Apparatus Makers Association National Association of Mutual Savings Banks, Keith G. Willoughby National Association of Secondary School Principals, Scott Thomson.. National Association of State Universities and Land-Grant Colleges, James C. Olson, Dr. James C., president of the University of Missouri for American Council on Education, Association of American Universities, and the Na- tional Association of State Universities and Land-Grant Colleges Pitt, Theo, Jr., for United States League of Savings Institutions Scheier, Stephen, Apple Computer, Inc...... Scientific Apparatus Makers Association, Dr. Peter McCrea Thomson, Scott, the National Association of Secondary School Principals........... United States League of Savings Institutions, Theo Pitt, Jr....... Willoughby, Keith G., for the National Association of Mutual Savings Banks, Hon. James M. Shannon, U.S. Representative, Massachusetts... John R. Colbert, treasurer of M/A-Com, Inc Moore, William G., Jr., Dallas, Tex. on behalf of American Electronics American Electronics Association, William G. Moore, Jr....... Arnold, Gary P., vice president, National Semiconductor Corporation on behalf of Semiconductor Industry Association Semiconductor Industry Association, Gary P. Arnold. Gary P. Arnold for Semiconductor Industry Association Hon. Ed Zschau, U.S. Representative, California Hon. John E. Chapoton, Assistant Secretary for Tax Policy, Department Kevin T. Considine on behalf of Computer Business Equipment Manufac- Page 86 Page Prepared statement of-Continued 265 Scott D. Thomson, National Association of Secondary School Principals..... 256 278 275 David A. Cramer, managing director, PUMP Financial Services, Inc.... 287 COMMUNICATIONS Letter and statement on Senate Bills S. 738, S. 1194, and S. 1195, Arthur Statement of Bernard L. Hardiek, director of taxes, Deere & Co Letter on S. 654 from The Foxboro Co.... IBM Corp. statement. Statement, Machinery and Allied Products Institute.. Statement on S. 1194 and S. 1195, Saul K. Fenster, president, New Jersey Letter on S. 1195 from Norman Hackerman, president, Rice University Article from the New York Times, "Plugging Teachers Into Computer Era". Article from The Miami News, "Computer Confusion in the Dade Classroom' 295 310 316 318 329 344 352 354 365 382 357 358 360 370 384 1983-84 MISCELLANEOUS TAX BILLS-II MAY 27, 1983 U.S. SENATE, SUBCOMMITTEE ON TAXATION AND DEBT MANAGEMENT, COMMITTEE ON FINANCE, Washington, D.C. The subcommittee met, pursuant to notice, at 9:07 a.m. in room SD-215, Dirksen Senate Office Building, Hon. John C. Danforth presiding. Present: Senators Danforth and Heinz. [The press release announcing the hearing, background information on S. 738, S. 1147, S. 1194, and S. 1195, and the prepared statement of Senator Bensten follow:] PRESS RELEASE No. 83-139 [For immediate release-May 9, 1983] U.S. SENATE, COMMITTEE ON FINANCE, SUBCOMMITTEE ON TAXATION AND DEBT MANAGMENT FINANCE SUBCOMMITTEE ON TAXATION AND DEBT Managment SETS HEARING ON FIVE MISCELLANEOUS TAX BILLS Senator Bob Packwood, Chairman of the Subcommittee on Taxation and Debt Management, announced today that a hearing will be held on Friday, May 27, 1983, on five miscellaneous tax bills. The hearing will begin at 9:00 a.m. in Room SD-215 of the Dirksen Senate Office Building. The following legislative proposals will be considered: S. 654.-Introduced by Senator Wallop and others. S. 654 would permit the deduction of all research and experimentation expenditures for research conducted in the United States against U.S. source income. S. 738.-Introduced by Senator Danforth and others. S. 738 would make permanent the credit for increasing activity. S. 1147.-Introduced by Senators Danforth and Tsongas. S. 1147 would exclude from income amounts arising out of the discharge of indebtedness on a principal residence. S. 1194.-Introduced by Senator Danforth. S. 1195.-Introduced by Senators Bentsen and Chafee. S. 1194 and S. 1195 would increase the charitable contribution deduction for certain scientific equipment, expand the tax credit for research activities and extend the exclusion from income for certain amounts received by students. STATEMENT OF SENATOR LLOYD BENSTEN Mr. Chairman: The R&D bills being discussed today have three major components: Expansion of the R&D tax credit to cover faculty salaries and graduate student aid; Expansion of the charitable deduction provision to include high-tech equipment donated for teaching purposes to colleges and VocEd schools; (1) |
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