Capital Gains Tax Rate Reduction Act of 2001

Capital Gains Tax Rate Reduction Act of 2001 - Amends the Internal Revenue Code to: (1) reduce the 10 and 20 percent individual capital gains tax rates to 5 and 10 percent respectively; (2) repeal provisions providing for reduced capital gain rates for qualified five year gains; and (3) with respect to the alternative minimum tax, reducing the 10 and 20 percent maximum tax rate on net capital gain for individuals to 5 and 10 percent respectively.