A bill to amend the Internal Revenue Code of 1986 to provide for the indexing of certain assets, and to increase the holding period for capital assets from 1 to 3 years.

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.

Increases from one year to three years the holding period required for long-term capital gain or loss tax treatment.