Date: February 28, 1990
Subject: National and Community Service Act
Description: Gramm (R-TX) amendment to state the sense of the Senate that any savings from the "peace dividend" should be used to meet Gramm-Rudman deficit targets (without relying on the Social Security trust fund surplus) or be returned to taxpayers in the form of a refundable child-care tax credit. Also included in the amendement is a repeal of the Social Security earnings test, an increase in the personal exemption, expansion of a permanent research and development tax deduction, a long-term capital gains tax cut, lowering of marginal tax rates, and other savings and investment incentives.
Result: Amendment Rejected, 48-50
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