To amend the Internal Revenue Code of 1986 to provide for the taxation of capital gains at a rate of 15 percent.

Summary

Amends the Internal Revenue Code to reduce the alternative tax rate on capital gains realized by a corporation from 34 percent to 15 percent, subject to adjustments to avoid tax increases due to inflation. Eliminates the holding period requirement with respect to capital assets associated with the tax.

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

Timeline

1. 4 January 1989

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 4 January 1989

   Introduced

   Introduced in House

   Source: IntroReferral

3. 4 January 1989

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · — · Download file

Documents

2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 4 January 1989

  Open at official source

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Sponsors

• Rep. Crane, Philip M. [R-IL-8] · R · Sponsor
• Rep. Ravenel, Arthur, Jr. [R-SC-1] · R · Cosponsor
• Rep. Ballenger, Cass [R-NC-10] · R · Cosponsor
• Sen. Smith, Bob [R-NH] · R · Cosponsor
• Rep. Dannemeyer, William E. [R-CA-39] · R · Cosponsor
• Rep. Burton, Dan [R-IN-5] · R · Cosponsor
• Rep. Lagomarsino, Robert J. [R-CA-19] · R · Cosponsor
• Rep. Dornan, Robert K. [R-CA-46] · R · Cosponsor
• Rep. Porter, John Edward [R-IL-10] · R · Cosponsor
• Rep. Whittaker, Bob [R-KS-5] · R · Cosponsor
• Rep. Paxon, Bill [R-NY-27] · R · Cosponsor
• Rep. Oxley, Michael G. [R-OH-4] · R · Cosponsor
• Sen. Bunning, Jim [R-KY] · R · Cosponsor
• Rep. Shumway, Norman D. [R-CA-14] · R · Cosponsor
• Rep. McEwen, Bob [R-OH-6] · R · Cosponsor
• Rep. Packard, Ron [R-CA-48] · R · Cosponsor
• Rep. Hancock, Mel [R-MO-7] · R · Cosponsor
• Rep. Ritter, Don [R-PA-15] · R · Cosponsor
• · hswm00 · Standing

Related records

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