Present Law And Background Relating to Federal Environmental Tax Policy : Scheduled for Hearings By the Committee On Ways And Means On March 6-7 And 14, 1990 Jcs-6-90

Cover Present Law And Background Relating to Federal Environmental Tax Policy : Scheduled for Hearings By the Committee On Ways And Means On March 6-7 And 14, 1990 Jcs-6-90
Present Law And Background Relating to Federal Environmental Tax Policy : Scheduled for Hearings By the Committee On Ways And Means On March 6-7 And 14, 1990 Jcs-6-90
United States. Congress. Joint Committee On Taxation
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Firearms Manufacturer's excise taxes are imposed on pistols and revolvers (10 percent), firearms ^* other than pistols and revolvers (11 per- cent), and ammunition (11 percent) (sec. 4181). Revenues from these taxes are appropriated in the year following receipt to the Federal Aid to Wildlife Restoration Fund (16 U.S.C. 669b).
Legislative Background Fishing equipment The Deficit Reduction Act of 1984 (1984 Act) expanded the arti- cles subject to the 10-percent excise tax on sport fishing equipm
...ent, and added the tax on electric boat motors and sonar fish finders.
The 1984 Act also established the Sport Fish Restoration Ac- count ^^ in a new Aquatic Resources Trust Fund. Amounts in this account may be spent for purposes of restoring and managing marine and fresh water sport or recreational fishing in the U.S.
Under the "Dingell-Johnson" Act of 1950, revenues attributable to the tax on fishing equipment were appropriated for Federal- State fish conservation programs. The fishing equipment tax origi- nated in 1917 at 3 percent, was increased to 10 percent in 1919, re- pealed in 1922, reimposed at 10 percent in 1983, repealed in 1938, reimposed at 10 percent in 1941, was 15 percent during 1951-1954, and 10 percent after 1954.


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