Revenue and Expenditure Control Act of 1968
E750147
The Revenue and Expenditure Control Act of 1968 was a U.S. federal law that temporarily increased income taxes and sought to restrain government spending in order to address budget deficits and inflation during the Vietnam War era.
All labels observed (1)
| Label | Occurrences |
|---|---|
| Revenue and Expenditure Control Act of 1968 canonical | 1 |
How this entity was disambiguated
This entity first appeared as the object of triple T8671502 — resolving that mention is where its identity was fixed. The disambiguator weighed these candidate entities and picked the highlighted one (or “None”, minting a new entity). This is how homonymy is resolved: the same surface form can point to different entities.
NED1
Entity disambiguation (via context triple)
gpt-5-mini-2025-08-07
Target entity: Revenue and Expenditure Control Act of 1968 Context triple: [Revenue Act of 1964, followedBy, Revenue and Expenditure Control Act of 1968]
-
A.
Budget and Accounting Procedures Act of 1950
The Budget and Accounting Procedures Act of 1950 is a U.S. federal law that modernized and strengthened federal budgeting, accounting, and auditing practices, expanding the roles of the executive branch and the Government Accountability Office in financial management.
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B.
Public Finance Act 1989
The Public Finance Act 1989 is a key New Zealand statute that modernised government financial management by introducing accrual accounting, greater transparency, and stricter accountability for public sector spending.
-
C.
Par Value Modification Act of 1972
The Par Value Modification Act of 1972 was a U.S. law that formally devalued the dollar in terms of gold and adjusted the official gold price as part of the transition away from the Bretton Woods system.
-
D.
Comptroller and Auditor General's (Duties, Powers and Conditions of Service) Act, 1971
The Comptroller and Auditor General's (Duties, Powers and Conditions of Service) Act, 1971 is an Indian law that defines the authority, responsibilities, and service conditions of the Comptroller and Auditor General of India in auditing government finances.
-
E.
General Law Amendment Act, 1963
The General Law Amendment Act, 1963 was a key apartheid-era South African law notorious for its harsh security provisions, including the "Sobukwe Clause" that allowed the state to detain political opponents like Robert Sobukwe without trial.
- F. None of above. chosen
- G. Unsure - the case is ambiguous/there is not enough information to decide.
NED2
Entity disambiguation (via description)
gpt-5-mini-2025-08-07
Target entity: Revenue and Expenditure Control Act of 1968 Target entity description: The Revenue and Expenditure Control Act of 1968 was a U.S. federal law that temporarily increased income taxes and sought to restrain government spending in order to address budget deficits and inflation during the Vietnam War era.
-
A.
Budget and Accounting Procedures Act of 1950
The Budget and Accounting Procedures Act of 1950 is a U.S. federal law that modernized and strengthened federal budgeting, accounting, and auditing practices, expanding the roles of the executive branch and the Government Accountability Office in financial management.
-
B.
Public Finance Act 1989
The Public Finance Act 1989 is a key New Zealand statute that modernised government financial management by introducing accrual accounting, greater transparency, and stricter accountability for public sector spending.
-
C.
Par Value Modification Act of 1972
The Par Value Modification Act of 1972 was a U.S. law that formally devalued the dollar in terms of gold and adjusted the official gold price as part of the transition away from the Bretton Woods system.
-
D.
Comptroller and Auditor General's (Duties, Powers and Conditions of Service) Act, 1971
The Comptroller and Auditor General's (Duties, Powers and Conditions of Service) Act, 1971 is an Indian law that defines the authority, responsibilities, and service conditions of the Comptroller and Auditor General of India in auditing government finances.
-
E.
General Law Amendment Act, 1963
The General Law Amendment Act, 1963 was a key apartheid-era South African law notorious for its harsh security provisions, including the "Sobukwe Clause" that allowed the state to detain political opponents like Robert Sobukwe without trial.
- F. None of above. chosen
Statements (45)
| Predicate | Object |
|---|---|
| instanceOf | United States federal statute ⓘ |
| affects |
corporate income tax
ⓘ
individual income tax ⓘ |
| aimedAt |
curbing aggregate demand
ⓘ
stabilizing the U.S. economy ⓘ |
| appliesToJurisdiction |
United States
ⓘ
linked to:
United States of America
|
| belongsToCategory |
1968 in American law
ⓘ
United States federal budget legislation ⓘ United States federal taxation legislation ⓘ |
| chamberInvolved |
United States House of Representatives
ⓘ
United States Senate ⓘ |
| country |
United States
ⓘ
linked to:
United States of America
|
| economicOrientation | contractionary fiscal policy ⓘ |
| enactmentPeriod |
Great Society era
ⓘ
linked to:
Great Society
Vietnam War ⓘ |
| hasComponent |
expenditure control provisions
ⓘ
temporary income tax surcharge ⓘ |
| hasEffect |
increased federal income tax liabilities for corporations
ⓘ
increased federal income tax liabilities for individuals ⓘ reduced growth of federal spending ⓘ |
| historicalContext | Vietnam War-era economic policy ⓘ |
| jurisdiction |
United States federal government
ⓘ
linked to:
United States government
|
| language | English ⓘ |
| legalForm | Act of Congress ⓘ |
| legislativeBody | United States Congress ⓘ |
| motivatedBy |
concerns about inflation
ⓘ
concerns about rising federal budget deficits ⓘ |
| policyArea |
fiscal policy
ⓘ
public finance ⓘ tax policy ⓘ |
| presidentAtEnactment | Lyndon B. Johnson ⓘ |
| purpose |
to combat inflation
ⓘ
to finance Vietnam War-related spending pressures ⓘ to reduce the federal budget deficit ⓘ to restrain federal government expenditures ⓘ |
| regulates | federal government expenditures ⓘ |
| relatedTo |
Great Society domestic programs
ⓘ
linked to:
Great Society
Vietnam War ⓘ |
| shortDescription | U.S. law imposing a temporary income tax surcharge and expenditure restraints in 1968 ⓘ |
| signedBy | Lyndon B. Johnson ⓘ |
| targetedProblem |
federal budget deficit
ⓘ
inflationary pressures ⓘ |
| temporalScope | temporary tax increase ⓘ |
| timePeriod | 1960s ⓘ |
| typeOfTaxChange | surtax on existing income tax ⓘ |
How these facts were elicited
The pipeline generated the facts above by prompting gpt-5.1 with this entity's name + description and the instruction below.
Instruction
You are a knowledge base construction expert. Given a subject entity and a description of it, return factual statements that you know for the subject as a JSON list of dictionaries(triples), where keys must be "subject", "predicate" and "object". The number of facts may be very high, between 25 to 50 or more, for very popular subjects. For less popular subjects, the number of facts can be very low, like 5 or 10. # Requirements - If you don't know the subject at all, return an empty list. - If the subject is not a named entity, return an empty list. - Include at least one triple where predicate is "instanceOf". - Do not get too wordy. - Separate several objects into multiple triples with one object.
Input
Subject: Revenue and Expenditure Control Act of 1968 Description of subject: The Revenue and Expenditure Control Act of 1968 was a U.S. federal law that temporarily increased income taxes and sought to restrain government spending in order to address budget deficits and inflation during the Vietnam War era.
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.