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After much deliberation, the final version was signed by President Ronald Reagan on September 3, The scheduled increases in accelerated depreciation deductions were repealed, a 10 percent withholding on dividends and interest paid to individuals was instituted, and the Federal Unemployment Tax Act wage base and tax rate were increased. Excise taxes on cigarettes were temporarily doubled, and excise taxes on telephone service temporarily tripled, in TEFRA.
A lawsuit was filed by an individual named Garrison R. A chart from the United States Department of the Treasury study  showing the bill's effect on government revenues is reproduced below. The study makes note that these government revenue estimates do not take into account the effect of the bills on GDP, and therefore, are not inclusive of resulting increases in revenue that could occur from an increase in GDP: The bill also created a hospice benefit to the Medicare program for the terminally ill with a sunset provision.
It allowed States to add a hospice benefit to the Medical program. From Wikipedia, the free encyclopedia. Tax Equity and Fiscal Responsibility Act of Long title An act to provide for tax equity and fiscal responsibility, and for other purposes. United States Department of the Treasury. Working Paper 81, page Check date values in: Fiscal Years —" February
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