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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Apr 25, 1984.
New Economic Recovery Act of 1984 - Amends the Internal Revenue Code to reduce the income tax rates on corporations as follows: (1) 12 percent of taxable income up to $50,000; (2) 24 percent of taxable income from over $50,000 to $100,000; and (3) 36 percent of taxable income over $100,000.
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