A bill to amend the Internal Revenue Code of 1986 to provide a reduction in the capital gain rates for all taxpayers, and for other purposes.
Capital Gains Reform Act of 1997 - Amends the Internal Revenue Code to revise rules concerning capital gain for taxpayers other than corporations to establish a new general rule which provides that if for any taxable year a taxpayer other than a corporation has a capital gain, 70 percent of such gain shall be a deduction from gross income.
Reduces the alternative capital gain tax for corporations.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S450-453)
Read twice and referred to the Committee on Finance.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line