Excerpt from General Explanation of the Revenue Act of 1978: H. R. 13511, 95th Congress; Public Law 95-600 The Act provides new tax cuts of billion in calendar year 197 9 and billion in 1980. The budget effect in fiscal year 197 9, includ ing both the new tax cuts and the extensions of expiring tax cuts, is a revenue reduction of billion. Of the new tax cuts for 197 9, billion represents cuts in individ ual income tax liabilities, billion represents business income tax cuts and billion represents reductions in capital gains taxes for individuals and corporations.1 The remaining $2 billion in tax cuts for 197 9 relate to certain excise and estate and gift tax changes. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.