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- H.R.777
H.R.777: To amend the Internal Revenue Code of 1986 to provide for a maximum long-term capital gains rate of 15 percent and indexing the basis of certain capital assets.
About This Bill
- Introduced Feb. 3, 1993
- Latest Major Action Feb. 3, 1993
Bill Sponsor
Bill Cosponsors
35 (3 Democrats, 32 Republicans)
Bill Summary
Amends the Internal Revenue Code to reduce the individual and corporate capital gains rate from 28 percent and 34 percent to 15 percent. Reduces the minimum tax rate accordingly. 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...
(Source: Library of Congress)
Bill Actions
Date | Description |
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Referred to the House Committee on Ways and Means.
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Feb. 3, 1993 |
Introduced in the House by James T. Kolbe (R-Ariz.) |