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- H.R.276
H.R.276: Middle Class Savings and Capital Gains 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 Summary
Middle Class Savings and Capital Gains Act of 1997 - Amends the Internal Revenue Code to allow individuals, in computing their adjusted gross income, a deduction of 100 percent of their net capital gain. Sets a $100,000 lifetime limit on the deduction and adjusts for inflation the balance of this amount remaining after the first year the deduction is taken. Excludes from determinations of the deduction the gain on the sale or exchange of a...
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Referred to the House Committee on Ways and Means.
|
|
| Jan. 7, 1997 |
Introduced in the House by Charles E. Schumer (D-N.Y.) |