A bill to amend the Internal Revenue Code of 1954 to deny the deduction for interest on indebtedness incurred to acquire corporations if the President determines that use of debt for corporate acquisitions should be discouraged.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow the President to declare a "corporate acquisition moratorium period" which would terminate for a period of not more than two years the income tax deduction for interest on loans made to finance corporate mergers.…