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- H.R.241
H.R.241: Middle Income Tax Relief Act of 1997
About This Bill
- This bill was introduced in the 105th Congress
- This bill is primarily about taxation
- Introduced Jan. 7, 1997
- Latest Major Action Jan. 7, 1997
- See the one similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
3 (All Democrats)
Bill Summary
Middle Income Tax Relief Act of 1997 - Amends the Internal Revenue Code to allow a capital gains deduction for individuals of 50 percent of the qualified gain for the taxable year. Limits such gain to $400,000 reduced by the aggregate amount of such gain taken into account for prior years. Makes such deduction unavailable to taxpayers with gross incomes in excess of $250,000. Requires property sold or exchanged for such gain to have been held...
(Source: Library of Congress)
Bill Actions
Date | Description |
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Sponsor introductory remarks on measure.
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Referred to the House Committee on Ways and Means.
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Jan. 7, 1997 |
Introduced in the House by Richard E. Neal (D-Mass.) |