Economic Stimulus Tax Act of 1993

See H.R.2264.

Congressional Research Service

Official summary

Version 00 · Introduced in House · Feb 16, 1993

Economic Stimulus Tax Act of 1993 - Amends the Internal Revenue Code (IRC) to repeal the limitation on passive activity losses and credits. Shortens the recovery period (providing for accelerated depreciation) for residential rental property and nonresidental real property. Restores the ten-percent general investment tax credit. Allows individuals and corporations a deduction of 50 percent of the net capital gain from assets held for at least one year. Increases the deduction for health insurance costs for self-employed individuals from 25 percent to 100 percent. Makes such deduction permanent. Repeals the Tax Reform Act of 1986 to restore IRC provisions relating to income averaging. Removes the ceiling on wages subject to social security taxes and provides a reduction in such taxes.

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People & committees

Who introduced it

Rep. Peterson, Collin C. [D-MN-7] · D–MN

Committees

Ways and Means Committee

0 cosponsorship records, including any withdrawals

Legislative record

Actions

A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.

Aug 10, 1993
See H.R.2264.
Feb 23, 1993
Referred to the Subcommittee on Social Security.
Feb 16, 1993
Referred to the House Committee on Ways and Means.
Feb 16, 1993
Introduced in House
Feb 16, 1993
Introduced in House

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in House · Feb 16, 1993 Formatted Text PDF

Related bills identified by Congress.gov

HR 2264 · Omnibus Budget Reconciliation Act of 1993

Source last updated: Aug 26, 2025. Consult Congress.gov for the current record.

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Neutral evidence review

Objective

Analyze H.R.912 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

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Discuss H.R.912, 103rd Congress: Economic Stimulus Tax Act of 1993

Official record: https://www.congress.gov/bill/103rd-congress/house-bill/912

Text version to examine: Introduced in House · 1993-02-16.

Official full text: https://www.congress.gov/103/bills/hr912/BILLS-103hr912ih.htm

Imported record last updated by the source: 2025-08-26T13:49:49Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze H.R.912 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

Fairness and public impact

Progressive lens

Examine H.R.912 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

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Discuss H.R.912, 103rd Congress: Economic Stimulus Tax Act of 1993

Official record: https://www.congress.gov/bill/103rd-congress/house-bill/912

Text version to examine: Introduced in House · 1993-02-16.

Official full text: https://www.congress.gov/103/bills/hr912/BILLS-103hr912ih.htm

Imported record last updated by the source: 2025-08-26T13:49:49Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.912 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine H.R.912 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

View full prompt & sources

Discuss H.R.912, 103rd Congress: Economic Stimulus Tax Act of 1993

Official record: https://www.congress.gov/bill/103rd-congress/house-bill/912

Text version to examine: Introduced in House · 1993-02-16.

Official full text: https://www.congress.gov/103/bills/hr912/BILLS-103hr912ih.htm

Imported record last updated by the source: 2025-08-26T13:49:49Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.912 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine H.R.912 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss H.R.912, 103rd Congress: Economic Stimulus Tax Act of 1993

Official record: https://www.congress.gov/bill/103rd-congress/house-bill/912

Text version to examine: Introduced in House · 1993-02-16.

Official full text: https://www.congress.gov/103/bills/hr912/BILLS-103hr912ih.htm

Imported record last updated by the source: 2025-08-26T13:49:49Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.912 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.