Base-Broadening Tax Act of 1984

[AI summary unavailable — showing source text] Base-Broadening Tax Act of 1984 - Amends the Internal Revenue Code to provide for temporary reductions in certain income tax credits and deductions for taxable years beginning on January 1, 1985, and ending on December 31, 1989. Provides for a ten percent reduction during such period of itemized deductions of an individual taxpayer. Provides for a ten percent reduction during such period of: (1) the foreign tax credit; (2) the credit for tax withheld on wages; (3) the earned income tax credit; (4) the credit for tax withheld at the source on nonresident aliens and foreign corporations; (5) the credit for certain uses of gasoline and special fuels; and (6) the Puerto Rico and possession tax credit. Provides for a ten percent reduction during such period of the income tax deductions for: (1) accelerated cost recovery; (2) the amortization of pollution control facilities; (3) circulation and research and experimental expenditures; (4) percentage depletion in excess of basis; (5) intangible drilling costs and mineral exploration and development costs; (6) certain financial institution preference items; (7) life insurance companies; (8) expenses for business entertainment or attendance …