Tax Fairness for Farmers, Ranchers, and Small Businessmen Act of 1987
Latest action. Provisions of Measure Incorporated Into H.R.4333.
Tax Fairness for Farmers, Ranchers, and Small Businessmen Act of 1987 - Amends the Tax Reform Act of 1986 to repeal provisions which eliminated the use of income averaging. Specifies that the Internal Revenue Code shall be applied and administered as if such provisions had not been enacted. Increases the amount of the income tax deduction for health insurance premiums paid by self-employed individuals from 25 percent of such costs to 50 percent of such costs. Repeals requirements that farmers must capitalize preproductive costs. Denies the use of cash accounting for all corporations engaged in farm product processing with annual gross receipts in excess of $100,000,000. Allows farmers the full investment tax credit carry forward. (Present law requires a 35 percent reduction in the carry forward of such credit.) Allows a one-time exclusion of any gain realized from the sale or exchange of land used in the trade or business of farming.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on January 28, 1987. It describes the bill, it is not the legal text.
Provisions of Measure Incorporated Into H.R.4333.
Civibrief does not map this action to a stage in the process. See the official record.
Where is it in the process, and what happens next?
The latest action on file does not map to a stage Civibrief recognizes, so the page will not name one. The record's own words are the reliable fact here.
The record's latest action, on November 10, 1988: Provisions of Measure Incorporated Into H.R.4333.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 100th Congress (1987-88), 713 of the 9,582 bills and joint resolutions introduced became law, about 7.4 percent. That count covers every measure at every stage, including the many that never left committee.
This one has no outstanding steps listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
VIRGINIA SMITH (R-NE) introduced it on January 28, 1987, and 22 members have since signed on as cosponsors.
They come from both major parties: 8 Democrats, 14 Republicans.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on January 28, 1987, 14518 days ago. The most recent recorded action was 13866 days ago, on November 10, 1988.
Measures do not carry over. Anything the 100th Congress has not finished by January 3, 1989 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseProvisions of Measure Incorporated Into H.R.4333.
- SenateNot stated in the latest action
- PresidentNot stated in the latest action