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HR 3128 102th Congress House

All-Americans Savings and Investment Incentive Act of 1991

Official title: To amend the Internal Revenue Code of 1986 to provide for individuals a capital gains preference based on the period the asset is held and to allow individuals… Show full official titleShow less

Official title: To amend the Internal Revenue Code of 1986 to provide for individuals a capital gains preference based on the period the asset is held and to allow individuals to exclude certain amounts of interest from gross income.

Introduced: September 12, 1991 See on congress.gov
Taxation Capital gains taxCorporation taxesDividend taxDividends
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Income taxInterestReal estate investmentTax deductionsTax exclusionTax ratesTrusts and trustees
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This bill died when the 102nd Congress ended
It never became law before the 102nd Congress (1991–1992) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 31, 1991
Referred to the House Committee on Ways and Means.
Jul 31, 1991
Introduced in House
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 Latest action July 31, 1991

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

All-Americans Savings and Investment Incentive Act of 1991 - Amends the Internal Revenue Code to provide individuals a deduction for capital gains based on the period the asset is held (up to three years). Excludes collectibles from such assets. Makes such deduction an item of tax preferences.

Excludes from gross income interest received during a taxable year up to $350 ($700 in the case of a joint return). Provides a phaseout of such exclusion for incomes over $50,000. Makes such exclusion applicable to distributions from regulated investment companies and real estate investment trusts. Makes certain nonresident aliens ineligible for such exclusion.

 Related & companion bills 1
  • S 1924 Identical bill All-Americans Savings and Investment Incentive Act of 1991
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Pallone, Frank
New Jersey · Sep 12, 1991
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3128: All-Americans Savings and Investment Incentive Act of 1991. 102nd Congress. Open America. https://openamerica.io/bill/102-HR-3128/
MLA
"H.R. 3128: All-Americans Savings and Investment Incentive Act of 1991." 102nd Congress, 2026, Open America, https://openamerica.io/bill/102-HR-3128/.
Bluebook (legal)
H.R. 3128, 102nd Cong. (2026), https://openamerica.io/bill/102-HR-3128/.
Markdown link
[H.R. 3128: All-Americans Savings and Investment Incentive Act of 1991](https://openamerica.io/bill/102-HR-3128/)
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