HR 1042
104th Congress
House
Taxation
Capital gains tax
Income tax
Tax deductions
To amend the Internal Revenue Code of 1986 to provide that no capital gains tax shall apply to individuals.
Introduced: February 24, 1995
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 24, 1995
Referred to the House Committee on Ways and Means.
Feb 24, 1995
Sponsor introductory remarks on measure. (CR E437)
Feb 24, 1995
Introduced in House
Plain-English summary
Amends the Internal Revenue Code to allow a taxpayer other than a corporation a 100 percent deduction of net capital gain from gross income. Allows such deduction in computing adjusted gross income.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1