Window of Opportunity Act

TABLE OF CONTENTS:

Title I: Temporary Reduction in Tax on Capital Gains

Title II: Indexing of Certain Assets

Window of Opportunity Act - Title I: Temporary Reduction in Tax on Capital Gains - Amends the Internal Revenue Code to reduce the individual and corporate capital gains taxes to six percent (three percent for low- and middle-income taxpayers) on capital gains during a moratorium period of one year beginning after the date of enactment of this Act.

Title II: Indexing of Certain Assets - Requires 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 or 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.