Understanding the Capital Cost Recovery Act of 1979: A Move Towards Tax Simplification and Capital Formation1979-01-01unknownhttp://rightsstatements.org/vocab/NKC/1.0/enghttp://congressarchives.org/record/CAC_CC_109_4_22_23_0015The document is a response to a communication regarding H.R. 4646, the Capital Cost Recovery Act of 1979. The bill aims to simplify the tax code and promote capital formation by allowing for rapid depreciation of assets. It will not reduce the advantages of the Investment Tax Credit or prevent accelerated depreciation methods. The author requests support for the bill to encourage more capital investment in the private sector.