Economic Investment and Savings Incentive Act

Summary

Economic Investment and Savings Incentive Act - Amends the Internal Revenue Code to allow a capital gains deduction for noncorporate taxpayers of 60 percent of a three-year capital gain, 40 percent of a two-year capital gain, and 20 percent of a one-year capital gain. Requires indexing, based on the consumer price index, of the adjusted basis of certain assets (corporate stock and tangible property that is a capital asset of property used in a trade or business) that have been held for more than one year at the time of sale or other disposition, solely for the purpose of determining gain or loss. Allows an individual an exclusion from gross income for qualified investment income. Limits such exclusion to individuals whose modified adjusted income does not exceed $50,000 ($25,000 in the case of separate return by a married individual) and at least 50 percent of such income is attributable to earned income. Allows such exclusion in computing alternative minimum tax.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 20 April 1994

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 20 April 1994

   Introduced

   Introduced in House

   Source: IntroReferral

3. 20 April 1994

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 20 April 1994 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 20 April 1994

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 20 April 1994

  ViewDownloadOpen at official source

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  Vertaal document

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• Introduced in House

  summary · EN · 20 April 1994

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Smith, Lamar [R-TX-21] · R · Sponsor
• Rep. King, Peter T. [R-NY-2] · R · Cosponsor
• Rep. Armey, Richard K. [R-TX-26] · R · Cosponsor
• Rep. Wilson, Charles [D-TX-2] · D · Cosponsor
• Rep. Dornan, Robert K. [R-CA-46] · R · Cosponsor
• Rep. Petri, Thomas E. [R-WI-6] · R · Cosponsor
• Rep. Emerson, Bill [R-MO-8] · R · Cosponsor
• Rep. Frost, Martin [D-TX-24] · D · Cosponsor
• Rep. Fish, Hamilton, Jr. [R-NY-19] · R · Cosponsor
• Rep. Rohrabacher, Dana [R-CA-48] · R · Cosponsor
• Rep. Hyde, Henry J. [R-IL-6] · R · Cosponsor
• · hswm00 · Standing

Related records

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