legislation: 102-hr-5279
Data license: Public Domain (U.S. Government data) · Data source: Federal Register API & Regulations.gov API
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| 102-hr-5279 | 102 | hr | 5279 | Economic Growth Incentive Act of 1992 | Economics and Public Finance | 1992-05-28 | 1992-06-15 | Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance. | House | Rep. Andrews, Robert E. [D-NJ-1] | NJ | D | A000210 | 0 | Economic Growth Incentive Act of 1992 - Title I: Reduction in Individual Income Taxes - Amends the Internal Revenue Code to provide for a five-percent decrease in individual income taxes for: (1) married individuals filing joint returns and surviving spouses; (2) heads of households; (3) unmarried individuals (other than surviving spouses and heads of households; (4) married individuals filing separate returns; and (5) estates and trusts. Title II: Incentive for Purchase of American-Made Property - Allows an itemized deduction for State and local general sales taxes imposed on the retail sale of American-made proeprty. Title III: Surface Transportation Programs - Amends the Intermodal Surface Transportation Efficiency Act of 1991 to repeal the obligation ceiling for Federal-aid highways and highway safety construction programs. Repeals authorized appropriations for FY 1993 and beyond and authorizes appropriations (and generally increases such appropriations) for FY 1993 and 1994 for the following programs: (1) highway programs; (2) construction of national defense highways located outside the United States; (3) the interstate substitute program; (4) donor State bonus amounts; (5) apportionment adjustments; (6) set asides for interstate discretionary projects; (7) the discretionary bridge program; (8) national high-speed ground transportation programs; (9) the highway timber bridge program; (10) highway use tax evasion projects; (11) the scenic byways program; (12) construction of ferry boats and ferry terminal facilities; (13) certain highway safety programs; (14) Federal Transit Act authorizations; and (15) the motor carrier safety grant program. Repeals FY 1992 budget compliance provisions. Accelerates from FY 1996 and 1997 to FY 1993 and 1994 the authority for reimbursements for segments of the Interstate System constructed without Federal assistance. Removes the highway safety obligation ceilings. Repeals the required reduction in certain Federal Transit Act authorizations for budget compliance. Amends the Internal Revenue Code to repeal the adjustment of apportionments for the Highway Trust Fund. Title IV: Relief from Credit Crunch - Expresses the sense of the Congress that: (1) the current "credit crunch" should be eased by making it easier for businesses and individuals to obtain loans and leases; and (2) State banking authorities and the appropriate Federal banking agencies should more sensibly apply the requirements on loan loss reserves so as not to punish or restrain responsible borrowers. Title V: Cap on Federal Employment - Prohibits the number of Federal employees from exceeding such number on the date of enactment of this Act. Rescinds all unobligated amounts that were appropriated before such date to pay salary, wages, or benefits for a position not filled on that date. Title VI: Reduction in Federal Overhead Expenses - Rescinds ten percent of all unobligated amounts that were appropriated before the date of enactment of this Act to pay overhead expenses of any Federal agency. Reduces authorizations for any fiscal year to pay overhead expenses of any Federal agency by ten percent. | 2025-08-26T15:13:46Z |