To amend the Internal Revenue Code of 1986 to provide a temporary reduction in the maximum capital gains rate from 20 percent to 15 percent.

Fact Sheet API

Bill Number

HR 2293

Introduced

Jun 21, 2001

Latest Action

Referred to the House Committee on Ways and Means.

Sponsor

Cosponsors

Topics

Business income tax Capital gains tax Commerce Construction costs Income tax Merchant marine Merchant ships Personal income tax Shipbuilding Tax cuts Tax rates Taxation Transportation and Public Works

Full Text

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Votes

Summary

Amends the Internal Revenue Code and the Merchant Marine Act, 1936 to reduce the capital gains rate from 20 percent to 15 percent for sales or exchanges made on or after June 1, 2001, and in taxable years beginning before January 1, 2004. Prescribes a transition formula for taxable years including June 1, 2001.

Actions

Jun 21, 2001

Referred to the House Committee on Ways and Means.
Jun 21, 2001

Introduced in House

Amendments

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