A bill to amend the Internal Revenue Code to restore the deduction for capital gains of individuals, to ensure that the rate of tax on long-term capital gains of individuals does not exceed 21 percent, and for other purposes.

Amends the Internal Revenue Code to: (1) allow a noncorporate taxpayer a 25 percent income tax deduction for capital gains; and (2) decrease from 28 percent to 21 percent the maximum income tax rate applied to the capital gains of individuals.