To amend the Internal Revenue Code of 1986 to provide maximum rates of tax on capital gains of 15 percent for individuals and 28 percent for corporations and to index the basis of assets of individuals for purposes of determining gains and losses.

Summary

Official

Capital Gains Tax Reduction Act of 2001 - Amends the Internal Revenue Code to reduce the maximum capital gains tax rates for both individuals and corporations. Provides for the indexing of assets for determining gain or loss.

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Bill Progress

Bill has been introduced and assigned a number

Introduced(1/3/01)

Committee

Passed House

Passed Senate

President

Law

Sponsor

Mr. DREIER

(R) CA – 28

Cosponsors (20)

NUSSLE

(R) IA

ARMEY

(R) TX

SHAYS

(R) CT

MCCARTHY

(D) MO

KING

(R) NY

REYNOLDS

(R) NY

CANTOR

(R) VA

HALL

(D) TX

GOSS

(R) FL

Toomey

(R) PA

Topics

International Affairs

Business & Finance

Latest Action

Referred to the House Committee on Ways and Means.

Jan 3, 2001