Alan Laufer


This paper examines the creation of the Domestic International Sales Corporation (DISC) method of deferral of tax on export income in 1971. The DISC legislation was part of a general effort by Congress, in the late 1960's and early1970's, to bolster the United States economy by using tax incentives in order to solve an ever worsening balance of payments deficit, followed by the subsequent Tax Reform Act of 1976 that responded to many of the longstanding criticisms of the DISC shelter, which had been present since the DISC scheme was first enacted.





To view the content in your browser, please download Adobe Reader or, alternately,
you may Download the file to your hard drive.

NOTE: The latest versions of Adobe Reader do not support viewing PDF files within Firefox on Mac OS and if you are using a modern (Intel) Mac, there is no official plugin for viewing PDF files within the browser window.