United States · Bill · S
S. 411 (101st)
A bill to amend the Internal Revenue Code of 1986 to restore a capital gains tax differential, and for other purposes.
Introduced
9 February 1989
Last action
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Status
Read twice and referred to the Committee on Finance.
Sponsors
—
Subjects
Discovery layer
Source updated
14 January 2025
Summary
Amends the Internal Revenue Code to revise the method of calculating the deduction for capital gains of noncorporate taxpayers, allowing a deduction equal to: (1) 60 percent for assets held for three years or more; and (2) 40 percent for assets held for between one and three years. Reduces from 34 percent to 28 percent the alternative tax rate on capital gains realized by a corporation.
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Timeline
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Votes
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Versions
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Documents
2 official files
Introduced in Senate (text)
Introduced in Senate · EN
Introduced in Senate
summary · EN · 9 February 1989
Sponsors
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Related records
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Sources
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- Official source: https://www.congress.gov/bill/101st-congress/senate-bill/411
- Open data entity: https://api.congress.gov/v3/bill/101/s/411