Economic Growth and Venture Capital Act of 1991

Summary

Economic Growth and Venture Capital Act of 1991 - Amends the Internal Revenue Code to reduce the individual and corporate capital gains rate from 34 percent to 15 percent. Reduces such tax to 7.5 percent for low- and middle-income taxpayers. Requires indexing, based on the gross national product deflator, 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. Provides for indexing the limitation on capital losses of noncorporate taxpayers.

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Timeline

1. 13 March 1991

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 13 March 1991

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

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Versions

• Introduced in Senate · — · Download file

Documents

2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 13 March 1991

  Open at official source

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Sponsors

• Sen. Kasten, Robert W., Jr. [R-WI] · R · Sponsor
• Sen. Mack, Connie, III [R-FL] · R · Sponsor
• Sen. Shelby, Richard C. [R-AL] · D · Sponsor
• Sen. Symms, Steven D. [R-ID] · R · Sponsor
• Sen. Helms, Jesse [R-NC] · R · Sponsor
• Sen. Lott, Trent [R-MS] · R · Sponsor
• Sen. Coats, Daniel [R-IN] · R · Sponsor
• Sen. Gorton, Slade [R-WA] · R · Sponsor
• Sen. Wallop, Malcolm [R-WY] · R · Sponsor
• Sen. McCain, John [R-AZ] · R · Sponsor
• Sen. Brown, Hank [R-CO] · R · Sponsor
• Sen. Hatch, Orrin G. [R-UT] · R · Sponsor
• Sen. Burns, Conrad R. [R-MT] · R · Sponsor
• Sen. Garn, E. J. (Jake) [R-UT] · R · Sponsor
• Sen. Gramm, Phil [R-TX] · R · Sponsor
• Sen. D'Amato, Alfonse [R-NY] · R · Sponsor
• Sen. Thurmond, Strom [R-SC] · R · Sponsor
• Sen. Nickles, Don [R-OK] · R · Cosponsor
• Sen. Seymour, John [R-CA] · R · Cosponsor
• · ssfi00 · Standing

Related records

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