Revenue Act of 1971
The United States Revenue Act of 1971 reinstated the investment tax credit, repealed the 7% automobile excise tax, and increased the minimum standard deduction from $1,000 to $1,300.
Scheduled increases in the personal exemption amount and percentage standard deduction were accelerated.
The 1971 Revenue Act helped establish the system of presidential public funding used in the United States. The Revenue Act also placed limits on campaign spending by Presidential nominees who receive public money and a ban on all private contributions to them.[1] Beginning with the 1973 tax year, individual taxpayers were able to designate $1 to be applied to the Presidential Election Campaign Fund.[2]
See also
References
- ^ "Public Funding of Presidential Elections Brochure". Federal Election Commission. August 1996.
Under the 1971 Revenue Act, the nominee, rather than the party, receives the public funds accumulated through the dollar checkoff. The Revenue Act also placed limits on campaign spending by Presidential nominees who receive public money and a ban on all private contributions to them.
- ^ See line 8, 1973 Form 1040, U.S. Individual Income Tax Return, Internal Revenue Service, U.S. Dep't of the Treasury.
External links
- Full text of the Act
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culture
- "Nixon goes to China"
- Millhouse (1971 film)
- An Evening with Richard Nixon (1972 play)
- Richard (1972 film)
- Another Nice Mess (1972 film)
- Four More Years (1972 film)
- Impeach the President (1973 song)
- The Werewolf of Washington (1973 film)
- White House Madness (1975 film)
- All the President's Men (1976 film)
- The Public Burning (1977 novel)
- Washington: Behind Closed Doors (1977 miniseries)
- Secret Honor (1984 film)
- Nixon in China (1987 opera)
- The Final Days (1989 film)
- Nixon (1995 film)
- Elvis Meets Nixon (1997 film)
- Futurama (1999 TV series)
- Dick (1999 film)
- Nixon's China Game (2000 film)
- Dark Side of the Moon (2002 film)
- The Assassination of Richard Nixon (2004 film)
- Frost–Nixon interviews (2006 play, 2008 film)
- Black Dynamite (2009 film)
- "The Impossible Astronaut" (2011 TV episode)
- Our Nixon (2013 film)
- X-Men: Days of Future Past (2014 film)
- Crooked (2015 novel)
- Elvis & Nixon (2016 film)
- The Post (2017 film)
- Watergate (2019 board game)
- U.S. postage stamp
- Jack Brennan (aide de camp)
- Murray Chotiner (early campaign manager)
- Manolo Sanchez (valet)
- Rose Mary Woods (secretary)
- Thelma "Pat" Ryan Nixon (wife)
- Tricia Nixon Cox (daughter)
- Julie Nixon Eisenhower (daughter)
- Christopher Nixon Cox (grandson)
- Jennie Eisenhower (granddaughter)
- Francis A. Nixon (father)
- Hannah Milhous Nixon (mother)
- Donald Nixon (brother)
- Edward Nixon (brother)