A bill to reestablish the Reconstruction Finance Corporation and to amend the Internal Revenue Code of 1954 to provide a refundable income tax credit for certain amounts of employer and employee social security taxes paid in 1981 and an equivalent refundable credit for individuals who do not benefit from the tax credit for social security taxes paid.

[AI summary unavailable — showing source text] Title I: Reconstruction Finance Corporation - Establishes the Reconstruction Finance Corporation as an instrumentality of the United States to be administered by a board of directors appointed by the President with the advice and consent of the Senate. Sets forth the general powers of the Corporation in carrying out the provisions of this title. Provides that the Corporation shall have a capital stock of $5,000,000,000 to be appropriated from the Treasury of the United States. Grants the Corporation the power to issue obligations which shall be in such principal amounts as the Board shall determine to be necessary, within the authorized indebtedness as prescribed by this Act. Grants the Corporation the power to issue obligations to renew, refund, or pay other obligations, including interest thereon, in whole or in part, whether or not the obligations to be renewed, refunded, or paid have matured. Prohibits the Corporation from permitting its obligations to be outstanding in an aggregate principal amount exceeding five times the paid-in capital of the Corporation at such time. Prohibits any Federal agency or department or entity owned in whole or in part by the United States from pu…