HR 1780
108th Congress
House
Taxation
Agricultural cooperatives
Agriculture and Food
Aliens
Capital gains tax
Congress
Congressional reporting requirements
Dividends
Economics and Public Finance
Employee ownership
Finance and Financial Sector
Government trust funds
Immigration
Income tax
Interest
Labor and Employment
Mutual funds
Old age, survivors and disability insurance
Real estate investment
Social Welfare
To amend the Internal Revenue Code of 1986 to eliminate the tax on the net capital gain of taxpayers other than corporations, to exclude interest and dividends from gross income, and to repeal the 1993 income tax increase on Social Security benefits.
Introduced: April 11, 2003
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 11, 2003
Referred to the House Committee on Ways and Means.
Apr 11, 2003
Introduced in House
Plain-English summary
Amends the Internal Revenue Code to exclude from individual gross income: (1) net capital gains; and (2) interest and dividends, not including dividends from farmers' cooperative associations, regulated investment companies and real estate investment trusts, and employee stock ownership plans.
Repeals the 85 percent (second tier) taxation of Social Security and Railroad Retirement benefits. Transfers from the general fund in the Treasury to the Hospital Insurance Trust Fund amounts equal to the resultant reduction in revenues.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1