"Testimony before the Senate Finance Subcommittee on Taxation and Debt Management -- H.R. 5973 and S. 1383"
Title
"Testimony before the Senate Finance Subcommittee on Taxation and Debt Management -- H.R. 5973 and S. 1383"
Description
Testimony of U.S. Congressman Les AuCoin regarding H.R. 5973 and S. 1383 before the Subcommittee on Taxation and Debt Management of the Senate Committee on Finance on April 25, 1980. In his testimony, Congressman AuCoin advocated for Section 4 of H.R. 5973, which was nicknamed the "Tillamook YMCA Bill." He explained how Section 4 of the bill "provides that certain indebtedness incurred before 1965 will not be treated as acquisition indebtedness for purposes of applying section 514 of the Internal Revenue Code of 1954 to certain sales during 1976." This would have benefited the YMCA in Tillamook, Oregon by preventing a tax error that Congressman AuCoin believed original legislators did not foresee and likely would have prevented from happening. Congressman AuCoin also expressed support for Oregon Senator Mark Hatfield's proposed tax incentives to encourage gleaning. Gleaning is the process of collecting leftover crops from a field that has already been commercially harvested. This is one of a collection of digitized objects from the Les AuCoin Papers (MS.147) at the Pacific University Archives. AuCoin served in the Oregon House of Representatives (1971-1975) and in the United States House of Representatives from Oregon's 1st District (1975-1993).
Creator
AuCoin, Les
Date: Display
April 25, 1980
Identifier
PUA_MS147_407
Subject
United States. Congress. House.
Legislators--United States
Bills, Legislative
Speeches, addresses, etc.
Internal revenue law--United States.
Gleaning
Place
Tillamook, Oregon
United States
Copyright
http://rightsstatements.org/vocab/NoC-CR/1.0/
Source
Les AuCoin Papers, Pacific University Archives
Type
Text