To amend the Internal Revenue Code of 1986 to provide for the indexing of certain assets for purposes of determining gain or loss.

Summary

Amends the Internal Revenue Code to allow an inflation adjustment based upon the gross domestic product deflator to the adjusted basis of certain assets (including C corporation common stock and tangible property used in a trade or business) held by a taxpayer for more than three years for purposes of determining gain or loss on the sale or other disposition of such assets. Sets forth rules for applying such inflation adjustment to short sales, regulated investment companies and real estate investment trusts, partnerships and other pass-thru entities, and dispositions of assets between related persons.

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

Timeline

1. 12 September 2006

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 12 September 2006

   Introduced

   Introduced in House

   Source: IntroReferral

3. 12 September 2006

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 12 September 2006 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 12 September 2006

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 12 September 2006

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 12 September 2006

  Open at official source

Sponsors

• Rep. Pence, Mike [R-IN-6] · R · Sponsor
• Rep. Cantor, Eric [R-VA-7] · R · Sponsor
• F. SENSENBRENNER · R · Cosponsor
• Rep. Neugebauer, Randy [R-TX-19] · R · Cosponsor
• Louie Gohmert · R · Cosponsor
• Rep. Pitts, Joseph R. [R-PA-16] · R · Cosponsor
• Ted Poe · R · Cosponsor
• Rep. Myrick, Sue Wilkins [R-NC-9] · R · Cosponsor
• Rep. Feeney, Tom [R-FL-24] · R · Cosponsor
• Rep. Wilson, Joe [R-SC-2] · R · Cosponsor
• Rep. Miller, Gary G. [R-CA-31] · R · Cosponsor
• John Carter · R · Cosponsor
• Trent Franks · R · Cosponsor
• Rep. Goode, Virgil H., Jr. [R-VA-5] · R · Cosponsor
• Rep. Bachus, Spencer [R-AL-6] · R · Cosponsor
• Rep. Istook, Ernest J., Jr. [R-OK-5] · R · Cosponsor
• Marsha Blackburn · R · Cosponsor
• Rescom. Fortuno, Luis G. [R-PR-At Large] · R · Cosponsor
• Rep. Mack, Connie [R-FL-14] · R · Cosponsor
• Pete Sessions · R · Cosponsor
• Rep. Paul, Ron [R-TX-22] · R · Cosponsor
• Steve King · R · Cosponsor
• K. Conaway · R · Cosponsor
• Rep. Knollenberg, Joe [R-MI-9] · R · Cosponsor
• Rep. Weldon, Dave [R-FL-15] · R · Cosponsor
• Patrick McHenry · R · Cosponsor
• Rep. Issa, Darrell [R-CA-48] · R · Cosponsor
• Rep. Hall, Ralph M. [D-TX-4] · R · Cosponsor
• Rep. Rogers, Mike J. [R-MI-8] · R · Cosponsor
• Rep. Lewis, Ron [R-KY-2] · R · Cosponsor
• Rep. Burton, Dan [R-IN-6] · R · Cosponsor
• Rep. Tancredo, Thomas G. [R-CO-6] · R · Cosponsor
• Rep. Gingrey, Phil [R-GA-11] · R · Cosponsor
• Rep. Wamp, Zach [R-TN-3] · R · Cosponsor
• KEVIN BRADY · R · Cosponsor
• Rep. Barrett, J. Gresham [R-SC-3] · R · Cosponsor
• Rep. Sodrel, Michael E. [R-IN-9] · R · Cosponsor
• Stevan Pearce · R · Cosponsor
• Rep. Tiahrt, Todd [R-KS-4] · R · Cosponsor
• PAUL RYAN · R · Cosponsor
• Tom Price · R · Cosponsor
• Kenny Marchant · R · Cosponsor
• Rep. Akin, W. Todd [R-MO-2] · R · Cosponsor
• Rep. McCaul, Michael T. [R-TX-10] · R · Cosponsor
• Rep. Green, Mark [R-WI-8] · R · Cosponsor
• Rep. Musgrave, Marilyn N. [R-CO-4] · R · Cosponsor
• Rep. Hayworth, J. D. [R-AZ-5] · R · Cosponsor
• Michael Simpson · R · Cosponsor

Showing 48 of 99 sponsors and actors.

Related records

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