Economic Recovery Tax Act(ERTA)

Law
26 U.S.C. §§ 15, 21, 22, 29, 30, 32, 40, 422, 424; 42 U.S.C. § 9836a et seq.  | (1981)

Legal Definition of Economic Recovery Tax Act

reduced individual income tax rates by 25 percent and expanded depreciation allowances and credits for investments. It also allowed the appreciated value of charitable gifts to be counted as part of an alternative tax base.

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