To amend the Internal Revenue Code of 1986 to provide for the indexing of certain assets and for a 15 percent maximum rate of tax on net capital gain.

Amends the Internal Revenue Code to require indexing, based on the gross national product deflator, of the adjusted basis of certain assets (corporate stock and tangible property that is a capital asset of property used in a trade or business) that have been held for more than one year at the time of sale or other transfer, solely for the purpose of determining gain or loss.

Reduces from 34 percent to 15 percent the alternative tax rate on capital gains realized by a corporation.