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- H.R.862
H.R.862: To amend the Internal Revenue Code of 1986 to provide a decrease in the maximum rate of tax on capital gains which is based on the length of time the taxpayer held the capital asset.
About This Bill
- This bill was introduced in the 105th Congress
- This bill is primarily about taxation
- Introduced Feb. 27, 1997
- Latest Major Action March 3, 1997
Bill Sponsor
Bill Summary
Amends the Internal Revenue Code to reduce the long term capital gains rate from 28 percent by two percent (but not below 14 percent) for each year the asset was held beyond two years. Reduces the net capital gain by the amount the taxpayer elects to take into account as investment income under specified provisions.
(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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Sponsor introductory remarks on measure.
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| Feb. 27, 1997 |
Introduced in the House by Ken Bentsen (D-Texas) |