Congress · Laws

A bill relating to the deduction of interest on certain corporate indebtedness to acquire stock or assets of another corporation.

Public Law 94-514 · H.R. 7929 · 94th Congress · began in the House

Signed by Gerald Ford (R) on Oct 15, 1976 · Taxation

Sponsor: Rep. Richard Fulton (D-TN-5)

Cosponsors: None

Passage votesYeaNay

HouseRecorded vote: 356 yea, 38 nay356–38
SenateMethod not stated

Data notes

The final version of the law, as each chamber passed it. A chamber that passed it by voice vote or unanimous consent has no count. “Method not stated” means the record does not say how the chamber voted. Where the record has a member-by-member vote, the “Who voted for it” section shows who voted yea.

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Summary

The Congressional Research Service’s plain-language summary of what the law does.

Removes, for purposes of deducting interest on a corporation's indebtedness, the classification, under the Internal Revenue Code, as "corporate acquisition indebtedness" specified obligations issued by a corporation to acquire stock of another corporation for taxable years ending after October 9, 1969.

Permits any refund or credit resulting from this Act to be allowed if such claim is filed within one year of the date of enactment.

Who voted for it

Every House member of the 94th Congress on the ideology compass. Highlighted: the 359 who voted yea on final passage. Faded: everyone else, including those who voted nay, did not vote, or had not yet taken office.

359 yea38 nay34 present or did not vote

Dimension 2

Economic left–right

More liberalMore conservative

Democrats who voted yea(228)

Rep. Louis StokesD-OH-21
Rep. Pete StarkD-CA-9
Rep. James CormanD-CA-21
Rep. Don EdwardsD-CA-10
Rep. Edward RoybalD-CA-25
Rep. Andrew YoungD-GA-5
Rep. Yvonne BurkeD-CA-28
Rep. Bill ClayD-MO-1
Rep. Benjamin RosenthalD-NY-8
Rep. Frank ThompsonD-NJ-4
Rep. James OberstarD-MN-8
Rep. Herman BadilloD-NY-21
Rep. Charles DiggsD-MI-13
Rep. George BrownD-CA-36
Rep. Cardiss CollinsD-IL-7
Rep. Barbara JordanD-TX-18
Rep. Robert NixD-PA-2
Rep. William FordD-MI-15
Rep. Frederick RichmondD-NY-14
Rep. Harold JohnsonD-CA-1
Rep. James HowardD-NJ-3
Rep. Jonathan BinghamD-NY-22
Rep. John DingellD-MI-16
Rep. John BrademasD-IN-3
Rep. James ScheuerD-NY-11
Rep. John McFallD-CA-14
Rep. Tip O’NeillD-MA-8
Rep. Morris UdallD-AZ-2
Rep. Charles PriceD-IL-23
Rep. Joshua EilbergD-PA-4
Rep. Robert LeggettD-CA-4
Rep. Joseph AddabboD-NY-7
Rep. Norman MinetaD-CA-13
Rep. Peter RodinoD-NJ-10
Rep. Stephen SolarzD-NY-13
Rep. Henry HelstoskiD-NJ-9
Rep. Lloyd MeedsD-WA-2
Rep. John FaryD-IL-5
Rep. Ray MaddenD-IN-1
Rep. Helen MeynerD-NJ-13
Rep. Edward MezvinskyD-IA-1
Rep. William BrodheadD-MI-17
Rep. Dave ObeyD-WI-7
Rep. Thomas MorganD-PA-22
Rep. Frank AnnunzioD-IL-11
Rep. John MurphyD-NY-17
Rep. Richard NolanD-MN-6
Rep. Dominick DanielsD-NJ-14
Rep. Spark MatsunagaD-HI-1
Rep. Fernand St. GermainD-RI-1
Rep. Floyd HicksD-WA-6
Rep. James BurkeD-MA-11
Rep. Daniel RostenkowskiD-IL-8
Rep. Edward PattenD-NJ-15
Rep. James StantonD-OH-20
Rep. Morgan MurphyD-IL-2
Rep. Abner MikvaD-IL-10
Rep. George DanielsonD-CA-30
Rep. James O’HaraD-MI-12
Rep. Edward BeardD-RI-2
Rep. Claude PepperD-FL-14
Rep. Teno RoncalioD-WY
Rep. Donald FraserD-MN-5
Rep. Dante FascellD-FL-15
Rep. Charles WilsonD-CA-31
Rep. Daniel FloodD-PA-11
Rep. John DentD-PA-21
Rep. Robert BerglandD-MN-7
Rep. Lucien NedziD-MI-14
Rep. William MoorheadD-PA-14
Rep. Jerry PattersonD-CA-38
Rep. Paul SarbanesD-MD-3
Rep. Joseph VigoritoD-PA-24
Rep. John MoakleyD-MA-9
Rep. Robert KastenmeierD-WI-2
Rep. Paul TsongasD-MA-5
Rep. Richard OttingerD-NY-24
Rep. Joseph GaydosD-PA-20
Rep. Lionel Van DeerlinD-CA-42
Rep. Philip HayesD-IN-8
Rep. Harold FordD-TN-8
Rep. Jack BrooksD-TX-9
Rep. James HanleyD-NY-32
Rep. Mario BiaggiD-NY-10
Rep. Harley StaggersD-WV-2
Rep. Robert JonesD-AL-5
Rep. Clement ZablockiD-WI-4
Rep. James DelaneyD-NY-9
Rep. Tim HallD-IL-15
Rep. Leo ZeferettiD-NY-15
Rep. Carl PerkinsD-KY-7
Rep. William HungateD-MO-9
Rep. William CotterD-CT-1
Rep. Gerry StuddsD-MA-12
Rep. Herbert HarrisD-VA-8
Rep. Richard Vander VeenD-MI-5
Rep. Leslie AspinD-WI-1
Rep. Toby MoffettD-CT-6
Rep. Frederick RooneyD-PA-15
Rep. Leonor SullivanD-MO-3
Rep. Matthew McHughD-NY-27
Rep. Albert UllmanD-OR-2
Rep. Thomas FoleyD-WA-5
Rep. Glenn AndersonD-CA-32
Rep. Robert RoeD-NJ-8
Rep. Joseph MinishD-NJ-11
Rep. Leo RyanD-CA-11
Rep. James SymingtonD-MO-2
Rep. John MelcherD-MT-2
Rep. Robert CornellD-WI-8
Rep. Gene MaguireD-NJ-7
Rep. Thomas ReesD-CA-23
Rep. Edward PattisonD-NY-29
Rep. James BlanchardD-MI-18
Rep. Gillis LongD-LA-8
Rep. Mike McCormackD-WA-4
Rep. Alvin BaldusD-WI-3
Rep. Gladys SpellmanD-MD-5
Rep. James WrightD-TX-12
Rep. Don BonkerD-WA-3
Rep. James LloydD-CA-35
Rep. Max BaucusD-MT-1
Rep. George ShipleyD-IL-22
Rep. Henry NowakD-NY-37
Rep. Stanley LundineD-NY-39
Rep. Joseph FisherD-VA-10
Rep. Robert EdgarD-PA-7
Rep. Michael BlouinD-IA-2
Rep. Thomas DowneyD-NY-2
Rep. Mark HannafordD-CA-34
Rep. Koln McKayD-UT-1
Rep. John JenretteD-SC-6
Rep. Otis PikeD-NY-1
Rep. Lester WolffD-NY-6
Rep. Joseph EarlyD-MA-3
Rep. Timothy WirthD-CO-2
Rep. Robert GiaimoD-CT-3
Rep. John MurthaD-PA-12
Rep. Thomas SteedD-OK-4
Rep. Bill AlexanderD-AR-1
Rep. Mendel DavisD-SC-1
Rep. Christopher DoddD-CT-2
Rep. Jerome TraxlerD-MI-8
Rep. John SlackD-WV-3
Rep. Martha KeysD-KS-2
Rep. Charles RoseD-NC-7
Rep. Lindy BoggsD-LA-2
Rep. William NatcherD-KY-2
Rep. Robert DuncanD-OR-3
Rep. Lunsford PreyerD-NC-6
Rep. Gus YatronD-PA-6
Rep. John YoungD-TX-14
Rep. Wilbur MillsD-AR-2
Rep. Samuel StrattonD-NY-28
Rep. John BreckinridgeD-KY-6
Rep. Bob CarrD-MI-6
Rep. Thomas AshleyD-OH-9
Rep. Clarence LongD-MD-2
Rep. Ray ThorntonD-AR-4
Rep. Charles WilsonD-TX-2
Rep. Norman D’AmoursD-NH-1
Rep. Kenneth HollandD-SC-5
Rep. Martin RussoD-IL-3
Rep. Jake PickleD-TX-10
Rep. William RandallD-MO-4
Rep. Abraham KazenD-TX-23
Rep. Romano MazzoliD-KY-3
Rep. Les AuCoinD-OR-1
Rep. Butler DerrickD-SC-3
Rep. Floyd FithianD-IN-2
Rep. James SantiniD-NV
Rep. John RoushD-IN-4
Rep. Bo GinnD-GA-1
Rep. Stephen NealD-NC-5
Rep. Tom BevillD-AL-4
Rep. Marilyn LloydD-TN-3
Rep. Carroll HubbardD-KY-1
Rep. Philip SharpD-IN-10
Rep. Richard WhiteD-TX-16
Rep. William HughesD-NJ-2
Rep. Robert StephensD-GA-10
Rep. Don FuquaD-FL-2
Rep. Sam GibbonsD-FL-7
Rep. Lee HamiltonD-IN-9
Rep. Walter JonesD-NC-1
Rep. Bill HefnerD-NC-8
Rep. David HendersonD-NC-3
Rep. George MahonD-TX-19
Rep. Walter FlowersD-AL-7
Rep. Ike AndrewsD-NC-4
Rep. Paul RogersD-FL-11
Rep. Robert KruegerD-TX-21
Rep. Jack HightowerD-TX-13
Rep. John BreauxD-LA-7
Rep. Herbert RobertsD-TX-4
Rep. David BowenD-MS-2
Rep. Robert SikesD-FL-1
Rep. Jamie WhittenD-MS-1
Rep. Otto PassmanD-LA-5
Rep. Roy TaylorD-NC-11
Rep. William ChappellD-FL-4
Rep. Elliott LevitasD-GA-4
Rep. William NicholsD-AL-3
Rep. Lawrence FountainD-NC-2
Rep. Olin TeagueD-TX-6
Rep. James HaleyD-FL-8
Rep. Glenn EnglishD-OK-6
Rep. Jack BrinkleyD-GA-3
Rep. Marvin MathisD-GA-2
Rep. Andrew JacobsD-IN-11
Rep. Richard IchordD-MO-8
Rep. Phillip LandrumD-GA-9
Rep. Williamson StuckeyD-GA-8
Rep. Thomas DowningD-VA-1
Rep. James MannD-SC-4
Rep. Dale MilfordD-TX-24
Rep. Goodloe ByronD-MD-6
Rep. Felix HébertD-LA-1
Rep. John FlyntD-GA-6
Rep. Sam HallD-TX-1
Rep. Joseph WaggonnerD-LA-4
Rep. William PoageD-TX-11
Rep. Harold RunnelsD-NM-2
Rep. Sonny MontgomeryD-MS-3
Rep. Omar BurlesonD-TX-17
Rep. Dan DanielD-VA-5
Rep. David SatterfieldD-VA-3
Rep. Lawrence McDonaldD-GA-7

Republicans who voted yea(131)

Rep. Charles WhalenR-OH-3
Rep. Gilbert GudeR-MD-8
Rep. Matthew RinaldoR-NJ-12
Rep. Silvio ConteR-MA-1
Rep. Edward BiesterR-PA-8
Rep. Frank HortonR-NY-34
Rep. Benjamin GilmanR-NY-26
Rep. Margaret HecklerR-MA-10
Rep. Joseph McDadeR-PA-10
Rep. Larry PresslerR-SD-1
Rep. Mark AndrewsR-ND
Rep. Stewart McKinneyR-CT-4
Rep. Tim CarterR-KY-5
Rep. Donald MitchellR-NY-31
Rep. Thomas RailsbackR-IL-19
Rep. Pete McCloskeyR-CA-12
Rep. William CohenR-ME-2
Rep. Jim JeffordsR-VT
Rep. Ronald SarasinR-CT-5
Rep. David EmeryR-ME-1
Rep. Hamilton FishR-NY-25
Rep. Joel PritchardR-WA-1
Rep. Millicent FenwickR-NJ-5
Rep. William HarshaR-OH-6
Rep. Elwood HillisR-IN-5
Rep. John StantonR-OH-11
Rep. Charles MosherR-OH-13
Rep. Norman LentR-NY-4
Rep. Edward MadiganR-IL-21
Rep. James ClevelandR-NH-2
Rep. William WamplerR-VA-9
Rep. John AndersonR-IL-16
Rep. Thad CochranR-MS-4
Rep. John BuchananR-AL-6
Rep. Tennyson GuyerR-OH-4
Rep. Albert JohnsonR-PA-23
Rep. Garner ShriverR-KS-4
Rep. Donald ClausenR-CA-2
Rep. John HammerschmidtR-AR-3
Rep. George O’BrienR-IL-17
Rep. Trent LottR-MS-5
Rep. Herbert BurkeR-FL-12
Rep. John DuncanR-TN-2
Rep. Ralph RegulaR-OH-16
Rep. John JarmanD-OK-5
Rep. Robert CoughlinR-PA-13
Rep. Jack EdwardsR-AL-1
Rep. Philip RuppeR-MI-11
Rep. James AbdnorR-SD-2
Rep. Joe SkubitzR-KS-5
Rep. Bob WilsonR-CA-41
Rep. Edward DerwinskiR-IL-4
Rep. Larry WinnR-KS-3
Rep. Charles ThoneR-NE-1
Rep. Burt TalcottR-CA-16
Rep. Paul FindleyR-IL-20
Rep. Albert QuieR-MN-1
Rep. Alphonzo BellR-CA-27
Rep. John MyersR-IN-7
Rep. Shirley PettisR-CA-37
Rep. William BroomfieldR-MI-19
Rep. Louis FreyR-FL-9
Rep. James QuillenR-TN-1
Rep. Clair BurgenerR-CA-43
Rep. George WhitehurstR-VA-2
Rep. Skip BafalisR-FL-10
Rep. William MooreR-LA-6
Rep. Elford CederbergR-MI-10
Rep. Marion SnyderR-KY-4
Rep. Robert McCloryR-IL-13
Rep. Robert DanielR-VA-4
Rep. Garry BrownR-MI-3
Rep. Virginia SmithR-NE-3
Rep. Guy Vander JagtR-MI-9
Rep. John RhodesR-AZ-1
Rep. Manuel LujánR-NM-1
Rep. Henry HydeR-IL-6
Rep. Chalmers WylieR-OH-15
Rep. Keith SebeliusR-KS-1
Rep. Jim JohnsonR-CO-4
Rep. William DickinsonR-AL-2
Rep. Chuck GrassleyR-IA-3
Rep. John WydlerR-NY-5
Rep. Robert LagomarsinoR-CA-19
Rep. Robert McEwenR-NY-30
Rep. Robert KastenR-WI-9
Rep. William SteigerR-WI-6
Rep. Edwin EshlemanR-PA-16
Rep. James BroyhillR-NC-10
Rep. Manley ButlerR-VA-6
Rep. Thomas HagedornR-MN-2
Rep. Edwin ForsytheR-NJ-6
Rep. James RobinsonR-VA-7
Rep. Gene TaylorR-MO-7
Rep. Richard SchulzeR-PA-5
Rep. Jack KempR-NY-38
Rep. John McCollisterR-NE-2
Rep. W. Bill YoungR-FL-6
Rep. Barry GoldwaterR-CA-20
Rep. William KetchumR-CA-18
Rep. David TreenR-LA-3
Rep. William FrenzelR-MN-3
Rep. Robin BeardR-TN-6
Rep. William GoodlingR-PA-19
Rep. Delbert LattaR-OH-5
Rep. Clarence BrownR-OH-7
Rep. John ErlenbornR-IL-14
Rep. Willis GradisonR-OH-1
Rep. James MartinR-NC-9
Rep. Carlos MoorheadR-CA-22
Rep. Charles WigginsR-CA-39
Rep. Donald ClancyR-OH-2
Rep. Thomas KindnessR-OH-8
Rep. Barber ConableR-NY-35
Rep. Richard KellyR-FL-5
Rep. Edward HutchinsonR-MI-4
Rep. Robert MichelR-IL-18
Rep. William ArmstrongR-CO-5
Rep. Clarence MillerR-OH-10
Rep. Bill ArcherR-TX-7
Rep. Samuel DevineR-OH-12
Rep. Delwin ClawsonR-CA-33
Rep. Bud ShusterR-PA-9
Rep. Robert BaumanR-MD-1
Rep. Herman SchneebeliR-PA-17
Rep. John AshbrookR-OH-17
Rep. John RousselotR-CA-26
Rep. George HansenR-ID-2
Rep. James CollinsR-TX-3
Rep. Phil CraneR-IL-12
Rep. Ron PaulR-TX-22

Data notes

The House’s recorded vote on the final version of the law (roll call 1100 in Voteview), matched to the vote the record cites and checked against its totals. Positions are each member’s DW-NOMINATE score for that Congress, as on the Ideology page; left to right is more liberal to more conservative. Paired and announced yea votes count as yea. Lists follow the compass, most liberal first. A name links to a profile only for members of the current Congress. A law passed by voice vote or unanimous consent has no member list, and neither does a vote Voteview has not yet recorded.

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Committees

The committees the bill was sent to, and what each did with it.

Ways and Means Committee · House · referred to, reported by
Finance Committee · Senate · referred to, reported by

Data notes

A committee links to its page only where it exists in the current Congress; older and renamed committees are named without a link.

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Timeline

From introduction to signing, newest first: the committees, the floor and the president. 13 actions.

Oct 15, 1976Became lawBecame law · Signed by President.
PresidentPresident · Public law 94-514.
Oct 6, 1976PresidentPresident · Measure presented to President.
PresidentPresident · Measure enrolled in Senate.
Oct 5, 1976PresidentPresident · Measure enrolled in House.
Oct 1, 1976FloorFloor · Measure passed Senate.
Sep 20, 1976CommitteeCommittee · Reported by Senate Finance Committee
Aug 25, 1976CommitteeCommittee · Referred to Senate Finance Committee
Aug 24, 1976FloorFloor · Measure passed House, amended, roll call #646 (356-38).House roll call 646
FloorFloor · Measure called up under motion to suspend rules and pass in House.
Jul 19, 1976CommitteeCommittee · Reported by House Ways and Means Committee
Jun 16, 1975CommitteeCommittee · Referred to House Ways and Means Committee
IntroducedIntroduced · Introduced in the House

Data notes

Shows the introduction, each committee and subcommittee step the source dates (referral, hearings, markup, report, discharge), and the floor, conference, presidential and became-law steps. Calendar placements, messages between the chambers, amendments and committee report numbers are not shown for laws before the 108th Congress. Two entries the source lists twice are shown once.

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Official record

The bill’s full text and every action, including introduction and committee steps, are on Congress.gov. Data through Oct 7, 2026.