A bill to amend the Internal Revenue Code to restore the deduction for capital gains of individuals, to ensure that the rate of tax on long-term capital gains of individuals does not exceed 21 percent, and for other purposes.

referredUnited States· United States Congress· EN

Introduced

29 June 1988

Last action

—

Status

Read twice and referred to the Committee on Finance.

Summary

Amends the Internal Revenue Code to: (1) allow a noncorporate taxpayer a 25 percent income tax deduction for capital gains; and (2) decrease from 28 percent to 21 percent the maximum income tax rate applied to the capital gains of individuals.

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Votes

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Versions

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Documents

1 official file

Introduced in Senate
summary · EN · 29 June 1988
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/100th-congress/senate-bill/2589
Open data entity: https://api.congress.gov/v3/bill/100/s/2589