To amend the Internal Revenue Code of 1986 to limit the interest deduction on corporate stock acquisition indebtedness.

Amends the Internal Revenue Code to place additional limitations on the deductibility by a C corporation of interest on corporate stock acquisition indebtedness, denying a deduction for such interest in excess of $5,000,000 incurred in connection with any acquisition of stock pursuant to the acquiring corporation's plan to acquire 50 percent or more (by vote or value) of the stock in a corporation. Applies a debt/equity test in determining which acquisitions will be subject to this limitation.