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S. 654, S. 738, S. 1147, S. 1194, and S. 1195

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CONTENTS

ADMINISTRATION WITNESS

Hon. John E. Chapoton, Assistant Secretary for Tax Policy, Department of
the Treasury...

PUBLIC WITNESSES

Page

86

American Council on Education, James C. Olson

184

Association of American Universities, James C. Olson.
American Vocational Association, Gene Bottoms
Bottoms, Gene, American Vocational Association

184

211

211

Computer and Business Equipment Manufacturers Association, Kevin T. Con-
sidine

Considine, Kevin T., on behalf of Computer and Business Equipment Manu-
facturers Association

167

167

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Gary P. Arnold for Semiconductor Industry Association

Hon. Ed Zschau, U.S. Representative, California

68

Hon. Don Ritter, U.S. Representative, Pennsylvania

79

Hon. John E. Chapoton, Assistant Secretary for Tax Policy, Department
of the Treasury

96

Prepared statement of-Continued

Scott D. Thomson, National Association of Secondary School Principals.....
Dr. Peter F. McCrea, for the Scientific Apparatus Makers Association...
Theo Pitt, Jr., for U.S. League of Savings Institutions.....

David A. Cramer, managing director, PUMP Financial Services, Inc...........
National Association of Mutual Savings Banks, Keith G. Willoughby

COMMUNICATIONS

Page

256

265

278

275

287

Letter and statement on Senate Bills S. 738, S. 1194, and S. 1195, Arthur
Andersen & Co........

295

Statement of Bernard L. Hardiek, director of taxes, Deere & Co

310

Letter on S. 654 from The Foxboro Co...............

316

IBM Corp. statement..

318

Statement, Machinery and Allied Products Institute.

329

Statement on S. 1194 and S. 1195, Saul K. Fenster, president, New Jersey
Institute of Technology.

344

Letter on S. 1195 from Norman Hackerman, president, Rice University

352

Letter on S. 1194 and S. 1195 from Tandy Corp./Radio Shack.
Statement on S. 738 and S. 654, Tax Executive Institute, Inc .....
Letter on S. 654 and S. 738 from Varian Associates, Inc..

354

365

382

Article from the New York Times, "Plugging Teachers Into Computer Era".
Article from The Wall Street Journal, "Learning How To Use Computers Is
Frightening Experience for Many"

357

358

Article from The Miami News, "Computer Confusion in the Dade Classroom".
Statement of Timex Computer Corp

360

370

Letter from Federal National Mortgage Association.

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;

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