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[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1218 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 1218

   To provide for economic growth by reducing income taxes for most 
 Americans, by encouraging the purchase of American-made products, and 
    by accelerating transportation-related spending, and for other 
                               purposes.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                             March 4, 1993

  Mr. Andrews of New Jersey introduced the following bill; which was 
referred jointly to the Committees on Ways and Means, Public Works and 
  Transportation, Banking, Finance and Urban Affairs, Post Office and 
                   Civil Service, and Appropriations

_______________________________________________________________________

                                 A BILL

 
   To provide for economic growth by reducing income taxes for most 
 Americans, by encouraging the purchase of American-made products, and 
    by accelerating transportation-related spending, and for other 
                               purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Economic Growth Incentive Act of 
1993''.

              TITLE I--REDUCTION IN INDIVIDUAL INCOME TAXES

SEC. 101. 5-PERCENT DECREASE IN INDIVIDUAL INCOME TAXES FOR MOST 
              TAXPAYERS.

    (a) General Rule.--Section 1 of the Internal Revenue Code of 1986 
(relating to tax imposed) is amended by striking subsections (a) 
through (e) and inserting the following:
    ``(a) Married Individuals Filing Joint Returns and Surviving 
Spouses.--There is hereby imposed on the taxable income of--
            ``(1) every married individual (as defined in section 7703) 
        who makes a single return jointly with his spouse under section 
        6013, and
            ``(2) every surviving spouse (as defined in section 2(a)),
a tax determined in accordance with the following table:

``If taxable income is:             The tax is:
    Not over $35,800...............
                                        14.25% of taxable income.
    Over $35,800 but not over 
        $86,500.
                                        $5,101.50, plus 26.6% of the 
                                                excess over $35,800.
    Over $86,500 but not over 
        $250,000.
                                        $18,587.70, plus 29.45% of the 
                                                excess over $86,500.
    Over $250,000..................
                                        $66,738.45, plus 31% of the 
                                                excess over $250,000.
    ``(b) Heads of Households.--There is hereby imposed on the taxable 
income of every head of a household (as defined in section 2(b)) a tax 
determined in accordance with the following table:

``If taxable income is:             The tax is:
    Not over $28,750...............
                                        14.25% of taxable income.
    Over $28,750 but not over 
        $74,150.
                                        $4,096.88, plus 26.6% of the 
                                                excess over $28,750.
    Over $74,150 but not over 
        $214,300.
                                        $16,173.28, plus 29.45% of the 
                                                excess over $74,150.
    Over $214,300..................
                                        $57,447.47, plus 31% of the 
                                                excess over $214,300.
    ``(c) Unmarried Individuals (Other Than Surviving Spouses and Heads 
of Households).--There is hereby imposed on the taxable income of every 
individual (other than a surviving spouse as defined in section 2(a) or 
the head of a household as defined in section 2(b)) who is not a 
married individual (as defined in section 7703) a tax determined in 
accordance with the following table:

``If taxable income is:             The tax is:
    Not over $21,450...............
                                        14.25% of taxable income.
    Over $21,450 but not over 
        $51,900.
                                        $3,056.63, plus 26.6% of the 
                                                excess over $21,450.
    Over $51,900 but not over 
        $150,000.
                                        $11,156.33, plus 29.45% of the 
                                                excess over $51,900.
    Over $150,000..................
                                        $40,046.78, plus 31% of the 
                                                excess over $150,000.
    ``(d) Married Individuals Filing Separate Returns.--There is hereby 
imposed on the taxable income of every married individual (as defined 
in section 7703) who does not make a single return jointly with his 
spouse under section 6013, a tax determined in accordance with the 
following table:

``If taxable income is:             The tax is:
    Not over $17,900...............
                                        14.25% of taxable income.
    Over $17,900 but not over 
        $43,250.
                                        $2,550.75, plus 26.6% of the 
                                                excess over $17,900.
    Over $43,250 but not over 
        $125,000.
                                        $9,293.85, plus 29.45% of the 
                                                excess over $43,250.
    Over $125,000..................
                                        $33,369.23, plus 31% of the 
                                                excess over $125,000.

    ``(e) Estates and Trusts.--There is hereby imposed on the taxable 
income of--
            ``(1) every estate, and
            ``(2) every trust,
taxable under this subsection a tax determined in accordance with the 
following table:

``If taxable income is:             The tax is:
    Not over $3,000................
                                        14.25% of taxable income.
    Over $3,000 but not over $5,000
                                        $427.50, plus 26.6% of the 
                                                excess over $3,000.
    Over $5,000 but not over $9,000
                                        $959.50, plus 29.45% of the 
                                                excess over $5,000.
    Over $9,000....................
                                        $2,137.50, plus 31% of the 
                                                excess over $9,000.''
    (b) Conforming Amendments.--
            (1) Section 541 is amended by striking ``28 percent'' and 
        inserting ``31 percent''.
            (2)(A) Subsection (f) of section 1 is amended--
                    (i) by striking ``1990'' in paragraph (1) and 
                inserting ``1992'', and
                    (ii) by striking ``1989'' in paragraph (3)(B) and 
                inserting ``1991''.
            (B) Subparagraph (B) of section 32(i)(1) is amended by 
        striking ``1989'' and inserting ``1991''.
            (C) Subparagraph (C) of section 41(e)(5) is amended by 
        striking ``1989'' each place it appears and inserting ``1991''.
            (D) Subparagraph (B) of section 63(c)(4) is amended by 
        striking ``1989'' and inserting ``1991''.
            (E) Subparagraph (B) of section 68(b)(2) is amended by 
        striking ``1989'' and inserting ``1991''.
            (F) Clause (ii) of section 135(b)(2)(B) is amended by 
        inserting ``, determined by substituting `calendar year 1989' 
        for `calendar year 1991' in subparagraph (B) thereof'' before 
        the period at the end thereof.
            (G) Subparagraphs (A)(ii) and (B)(ii) of section 151(d)(4) 
        are each amended by striking ``1989'' and inserting ``1991''.
            (H) Clause (ii) of section 513(h)(2)(C) is amended by 
        striking ``1989'' and inserting ``1991''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 1991.

       TITLE II--INCENTIVE FOR PURCHASE OF AMERICAN-MADE PROPERTY

SEC. 201. DEDUCTION FOR GENERAL SALES TAXES ON AMERICAN-MADE TANGIBLE 
              PERSONAL PROPERTY.

    (a) In General.--Subsection (a) of section 164 of the Internal 
Revenue Code of 1986 (relating to deduction for taxes) is amended is 
inserting after paragraph (5) the following new paragraph:
            ``(6) State and local general sales taxes imposed in 
        respect of qualified sales at retail of American made-
        property.''
    (b) Definitions.--Subsection (b) of section 164 of such Code is 
amended by adding at the end thereof the following new paragraph:
            ``(5) Definitions relating to general sales taxes.--For 
        purposes of subsection (a)(6)--
                    ``(A) Qualified sales.--The term `qualified sale' 
                means any sale of property if the price (including 
                taxes and shipping (if any)) paid by the taxpayer for 
                such property and all other American-made property 
                purchased with such property in the same transaction 
                exceeds $500.
                    ``(B) American-made property.--The term `American-
                made property' means tangible personal property more 
                than 50 percent of the cost of which is attributable to 
                value added in the United States.''
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after the date of the enactment of 
this Act.

               TITLE III--SURFACE TRANSPORTATION PROGRAMS

SEC. 301. OBLIGATION CEILING.

    Section 102 of the Intermodal Surface Transportation Efficiency Act 
of 1991 (23 U.S.C. 104 note; 105 Stat. 1916-1918) is repealed.

SEC. 302. AUTHORIZATION OF APPROPRIATIONS FOR HIGHWAY PROGRAMS.

    Section 1003 of the Intermodal Surface Transportation Efficiency 
Act of 1991 (105 Stat. 1918-1922) is amended--
            (1) in paragraph (1) by striking ``$2,913,000,000'' and all 
        that follows through ``1997'' and inserting ``$7,284,000,000 
        for fiscal year 1993, and $7,285,000,000 for fiscal year 
        1994'';
            (2) in paragraph (2) by striking ``$3,599,000,000'' the 
        first place it appears and all that follows through ``1997'' 
        and inserting ``$8,998,500,000 for fiscal year 1993, and 
        $8,998,500,000 for fiscal year 1994'';
            (3) in paragraph (3) by striking ``$4,096,000,000'' the 
        first place it appears and all that follows through ``1997'' 
        and inserting ``$10,241,000,000 for fiscal year 1993, and 
        $10,241,000,000 for fiscal year 1994'';
            (4) in paragraph (4) by striking ``$1,028,000,000'' the 
        first place it appears and all that follows through ``1997'' 
        and inserting ``$2,571,000,000 for fiscal year 1993, and 
        $2,571,000,000 for fiscal year 1994'';
            (5) in paragraph (5) by striking ``$2,762,000,000'' the 
        first place it appears and all that follows through ``1997'' 
        and inserting ``$6,906,000,000 for fiscal year 1993, and 
        $6,906,000,000 for fiscal year 1994'';
            (6) in paragraph (6)(A) by striking ``$191,000,000'' and 
        all that follows through ``1997'' and inserting ``$477,500,000 
        for each of fiscal years 1993 and 1994'';
            (7) in paragraph (6)(B) by striking ``$171,000,000'' and 
        all that follows through ``1997'' and inserting ``$428,500,000 
        for fiscal year 1993, and $428,500,000 for fiscal year 1994'';
            (8) in paragraph (6)(C) by striking ``$83,000,000'' and all 
        that follows through ``1997'' and inserting ``$208,500,000 for 
        fiscal year 1993, and $208,500,000 for fiscal year 1994'';
            (9) in paragraph (7) by striking ``$20,000,000'' and all 
        that follows through ``1997'' and inserting ``$50,000,000 for 
        each of fiscal years 1993 and 1994''; and
            (10) in paragraph (8) by striking ``each of'' and all that 
        follows through ``1997'' and inserting ``fiscal year 1992 and 
        $25,000,000 for each of fiscal years 1993 and 1994''.

SEC. 303. BUDGET COMPLIANCE.

    Sections 1003(c) and 1004 of the Intermodal Surface Transportation 
Efficiency Act of 1991 (105 Stat. 1922-1923) are repealed.

SEC. 304. NATIONAL DEFENSE HIGHWAYS LOCATED OUTSIDE THE UNITED STATES.

    Section 1006(h)(2) of the Intermodal Surface Transportation 
Efficiency Act of 1991 (23 U.S.C. 311 note; 105 Stat. 1927) is 
amended--
            (1) by striking ``$20,000,000'' and inserting 
        ``$40,000,000''; and
            (2) by striking ``, 1994, 1995, and 1996'' and inserting 
        ``and 1994''.

SEC. 305. SUBSTITUTE PROGRAM.

    Section 103(e)(4)(G) of title 23, United States Code, is amended by 
striking ``$240,000,000 per fiscal year for each of fiscal years 1992, 
1993, 1994, and 1995'' and inserting ``$240,000,000 for fiscal year 
1992, and $360,000,000 per fiscal year for each of fiscal years 1993 
and 1994''.

SEC. 306. DONOR STATE BONUS AMOUNTS.

    Section 1013(c)(1) of the Intermodal Surface Transportation 
Efficiency Act of 1991 (23 U.S.C. 157 note; 105 Stat. 1940) is amended 
by striking subparagraphs (B), (C), (D), (E), and (F) and inserting the 
following new subparagraphs:
                    ``(B) For fiscal year 1993 $1,285,000,000.
                    ``(C) For fiscal year 1994 $1,285,000,000.''.

SEC. 307. REIMBURSEMENTS FOR SEGMENTS OF THE INTERSTATE SYSTEM 
              CONSTRUCTED WITHOUT FEDERAL ASSISTANCE.

    (a) In General.--Section 160 of title 23, United States Code, is 
amended in each of subsections (a) and (f) by striking ``1996 and 
1997'' and inserting ``1993 and 1994''.
    (b) Conforming Amendment.--Section 1014(c) of the Intermodal 
Surface Transportation Efficiency Act of 1991 (105 Stat. 1942-1943) is 
amended--
            (1) in paragraph (1) by striking ``1996'' each place it 
        appears and inserting ``1993'';
            (2) in paragraph (2) by striking ``1996 and 1997'' each 
        place it appears and inserting ``1993 and 1994''; and
            (3) in paragraph (3) by striking ``1996 and 1997'' and 
        inserting ``1993 and 1994''.

SEC. 308. APPORTIONMENT ADJUSTMENTS.

    (a) Hold Harmless.--Section 1015(a)(1) of the Intermodal Surface 
Transportation Efficiency Act of 1991 (23 U.S.C. 104 note; 105 Stat. 
1943) is amended by striking ``1997'' and inserting ``1994''.
    (b) 90-Percent of Payment Adjustments.--Section 1015(b)(1) of such 
Act is amended by striking ``1997'' and inserting ``1994''.
    (c) Additional Allocation.--Section 1015(c) of such Act is 
amended--
            (1) by striking ``$47,800,000'' and inserting 
        ``$119,500,000''; and
            (2) by striking ``1997'' and inserting ``1994''.
    (d) Authorization of Appropriations.--Section 1015(e) of such Act 
is amended by striking ``1997'' and inserting ``1994''.

SEC. 309. SET ASIDE FOR 4R PROJECTS.

    Section 118(c)(2)(A) of title 23, United States Code, is amended by 
striking ``, $64,000,000'' and all that follows through ``1997'' and 
inserting ``and $160,500,000 for each of fiscal years 1993 and 1994''.

SEC. 310. DISCRETIONARY BRIDGE PROGRAM.

    Section 144(g)(1) of title 23, United States Code, is amended--
            (1) by striking ``1994, 1995, 1996, and 1997'' and 
        inserting ``and 1994'';
            (2) by striking ``, $68,000,000'' and all that follows 
        through ``1997'' the second place it appears and inserting 
        ``and $171,500,000 in the case of fiscal year 1993 and 1994'';
            (3) by striking ``, $59,500,000 in the case of fiscal years 
        1993 and 1994, and $60,500,000 in the case of fiscal years 
        1995, 1996, and 1997'' each place it appears and inserting 
        ``and $150,250,000 in the case of fiscal years 1993 and 1994''; 
        and
            (4) by striking ``$8,500,000'' and inserting 
        ``$21,250,000''.

SEC. 311. NATIONAL HIGH-SPEED GROUND TRANSPORTATION PROGRAMS.

    Section 1036(d)(1) of the Intermodal Surface Transportation 
Efficiency Act of 1991 (105 Stat. 1986) is amended--
            (1) in subparagraph (A) by striking ``$45,000,000'' and all 
        that follows through ``1997'' and inserting ``$220,000,000 for 
        fiscal year 1993, and $275,000,000 for fiscal year 1994''; and
            (2) in subparagraph (B) by striking ``$5,000,000'' and all 
        that follows through ``1997'' and inserting ``$12,500,000'' for 
        each of fiscal years 1993 and 1994''.

SEC. 312. HIGHWAY TIMBER BRIDGE PROGRAM.

    Section 1039(a) of the Intermodal Surface Transportation Efficiency 
Act of 1991 (23 U.S.C. 144 note; 105 Stat. 1991) is amended--
            (1) by striking ``1994, 1995, 1996, and 1997'' and 
        inserting ``and 1994'';
            (2) by striking ``$1,000,000'' and inserting 
        ``$2,500,000''; and
            (3) by striking ``$7,500,000'' and inserting 
        ``$18,750,000''.

SEC. 313. HIGHWAY USE TAX EVASION PROJECTS.

    Section 1040(f)(1) of the Intermodal Surface Transportation 
Efficiency Act of 1991 (23 U.S.C. 101 note; 105 Stat. 1992-1993) is 
amended by striking ``$5,000,000'' and all that follows through 
``1997'' and inserting ``$12,500,000 for each of fiscal years 1993 and 
1994''.

SEC. 314. SCENIC BYWAYS PROGRAM.

    Section 1047(d) of the Intermodal Surface Transportation Efficiency 
Act of 1991 (23 U.S.C. 101 note; 105 Stat. 1998) is amended by striking 
``$3,000,000'' and all that follows through ``1997'' and inserting 
``24,000,000 for fiscal year 1993, and $25,000,000 for fiscal year 
1994''.

SEC. 315. CONSTRUCTION OF FERRY BOATS AND FERRY TERMINAL FACILITIES.

    Section 1064(c) of the Intermodal Surface Transportation Efficiency 
Act of 1991 (23 U.S.C. 129 note; 105 Stat. 2005) is amended by striking 
``, $17,000,000'' and all that follows through ``1997'' and inserting 
``and $43,000,000 per fiscal year for each of fiscal years 1993 and 
1994''.

SEC. 316. HIGHWAY SAFETY AUTHORIZATION OF APPROPRIATIONS.

    Section 2005 of the Intermodal Surface Transportation Efficiency 
Act of 1991 (105 Stat. 2079) is amended--
            (1) in paragraph (1) by striking ``$171,000,000'' and all 
        that follows through ``1997'' and inserting ``$427,500,000 for 
        each of fiscal years 1993 and 1994''; and
            (2) in paragraph (2) by striking ``each of the fiscal years 
        1992 through 1997'' and inserting ``for fiscal year 1992 and 
        $110,000,000 for each of fiscal years 1993 and 1994''.

SEC. 317. HIGHWAY SAFETY OBLIGATION CEILINGS.

    Section 2009 of the Intermodal Surface Transportation Efficiency 
Act of 1991 (105 Stat. 2080) is amended by striking subsections (a) and 
(b) and inserting the following:
    ``Sums authorized to be appropriated by this title and the 
amendments made by this title shall not be subject to any obligation 
limitation.''.

SEC. 318. FEDERAL TRANSIT ACT AUTHORIZATIONS.

    Section 21 of the Federal Transit Act (49 U.S.C. App. 1617) is 
amended--
            (1) in subsection (a)(1) by striking ``$1,150,000,000'' the 
        first place it appears and all that follows through ``1997'' 
        and inserting ``$3,240,000,000 for fiscal year 1993 and 
        $3,280,000,000 for fiscal year 1994''; and
            (2) in subsection (b)(1) by striking ``$1,725,000,000'' the 
        first place it appears and all that follows through ``1997'' 
        and inserting ``$4,860,000,000 for fiscal year 1993 and 
        $4,910,000,000 for fiscal year 1994''.

SEC. 319. REDUCTION IN FEDERAL TRANSIT ACT AUTHORIZATIONS FOR BUDGET 
              COMPLIANCE.

    Section 3038 of the Intermodal Surface Transportation Efficiency 
Act of 1991 (105 Stat. 2138) is repealed.

SEC. 320. MOTOR CARRIER SAFETY GRANT PROGRAM.

    Section 404(a)(2) of the Surface Transportation Assistance Act of 
1982 (49 U.S.C. App. 2304(a)(2)) is amended by striking ``$76,000,000'' 
and all that follows through ``1997'' and inserting ``$205,000,000 for 
fiscal year 1993, and $209,000,000 for fiscal year 1994''.

SEC. 321. REPEAL OF ADJUSTMENT OF APPORTIONMENTS.

    (a) In General.--Section 9503 of the Internal Revenue Code of 1986 
(relating to Highway Trust Fund) is amended by striking subsection (d) 
and by redesignating subsection (e) as subsection (d).
    (b) Conforming Amendment.--Paragraph (1) of section 9503(c) of such 
Code is amended by striking ``subsection (e)'' and inserting 
``subsection (d)''.
    (c) Effective Date.--The amendments made by this section shall 
apply to fiscal years beginning after September 30, 1992.

                  TITLE IV--RELIEF FROM CREDIT CRUNCH

SEC. 401. LOOSENING OF REQUIREMENTS ON LOAN LOSS RESERVES ENCOURAGED.

    (a) Findings.--The Congress hereby finds that--
            (1) the economy of the United States has been in a 
        sustained period of slow growth;
            (2) credit for commercial and consumer loans and leases has 
        become more difficult to obtain over the past three years, 
        resulting in a ``credit crunch'';
            (3) the banking industry has adopted a cautious credit 
        policy in response to the state of the economy and the problems 
        experienced by the savings and loan industry;
            (4) the Federal Reserve has lowered its reserve 
        requirements on member banks for both checking and savings 
        deposits over the past two years in an effort to stimulate the 
        economy, with only moderate success; and
            (5) the loosening of the requirements on loan loss reserves 
        by State banking authorities and the appropriate Federal 
        banking agencies, as that term is defined in section 3(q) of 
        the Federal Deposit Insurance Act (12 U.S.C. 1813(q)), might 
        help stimulate the economy.
    (b) Declaration.--It is 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, as that term is defined in section 3(q) of 
        the Federal Deposit Insurance Act (12 U.S.C. 1813(q)), 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

SEC. 501. CAP ON FEDERAL EMPLOYMENT.

    (a) Employment Cap.--Notwithstanding any other provision of law, 
the total number of individuals employed by the Federal Government may 
not exceed the number of individuals employed by the Federal Government 
on the date of the enactment of this Act.
    (b) Rescission of Appropriations.--Notwithstanding any other 
provision of law, there are hereby rescinded all unobligated amounts 
that were appropriated before the date of the enactment of this Act to 
pay salary, wages, or benefits for a position in the employment of the 
Federal Government that is not filled on that date.

            TITLE VI--REDUCTION IN FEDERAL OVERHEAD EXPENSES

SEC. 601. REDUCTION OF AMOUNTS AVAILABLE TO FEDERAL AGENCIES FOR PAYING 
              OVERHEAD EXPENSES.

    (a) Rescission of Appropriations.--Notwithstanding any other 
provision of law, there is hereby rescinded an amount equal to 10 
percent of all unobligated amounts that were appropriated before the 
date of the enactment of this Act to pay overhead expenses of any 
Federal agency.
    (b) Reduction in Authorizations.--The amount authorized to be 
appropriated for any fiscal year to pay overhead expenses of any 
Federal agency is hereby reduced by 10 percent.
    (c) Overhead Expenses Defined.--For purposes of this section, the 
term ``overhead expenses'' means any expense incurred by a Federal 
agency, except--
            (1) the payment of salaries and wages of employees of the 
        agency; and
            (2) direct spending (as that term is defined in section 250 
        of the Balanced Budget and Emergency Deficit Control Act of 
        1985).

                                 <all>

HR 1218 IH----2
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