• Probably everyone in this room remembers the lengthy—not to say exhausting—effort that went behind the changes in life insurance taxation enacted by the Deficit Reduction Act of 1984.
• It was agreed by us and by the industry that, in the context of current law, this effort probably eliminated the abuses we had seen in this industry, and put the life insurance companies on a level playing field with other financial intermediaries. (p5889)

-- Pete Stark - Congressman - California

1985 - GOV - Comprehensive Tax Reform: Hearings Before the Committee on Ways and Means, House of Representatives - Part 7

https://www.c-span.org/video/?125556-1/impact-tax-reform-insurance-industry