A Chronology of Federal Income Tax Policy: 1947-2009

22 Pages Posted: 24 Jul 2009  

Date Written: October 10, 2007

Abstract

This note provides a chronology of major tax events that involved changes in federal taxes on individual and corporate income from 1948 to 2006. For each event, the note provides background and policy motivation, major provisions, legislative timeline, and estimated revenue changes. As most tax changes were preceded by extensive legislative delays, this chronology suggests that people were likely to have foreknowledge about tax policy. It also finds that postwar income tax policy was typically motivated by one of three rationales: 1) balancing the budget or reducing deficits, 2) controlling inflation, and 3) stimulating economic activity or promoting growth.

Keywords: Policy Foresight, Timeline of Tax Events, Tax Policy, Fiscal Policy

JEL Classification: E62, E61, N42

Suggested Citation

Yang, Shu-Chun S., A Chronology of Federal Income Tax Policy: 1947-2009 (October 10, 2007). CAEPR Working Paper No. 2007-021. Available at SSRN: https://ssrn.com/abstract=1020679 or http://dx.doi.org/10.2139/ssrn.1020679

Shu-Chun S. Yang (Contact Author)

CAEPR ( email )

Wylie Hall
Bloomington, IN 47405-6620
United States

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