To amend the Internal Revenue Code of 1986 to reduce the corporate income tax rate to 10 percent and to lower the rate of tax on capital gains and dividends to 10 percent.

Amends the Internal Revenue Code to reduce to 10%: (1) the income tax rate on corporations, including personal service corporations; and (2) the capital gains income of individuals and corporations.

Makes provisions of the Jobs and Growth Tax Relief Reconciliation Act of 2003 that reduce tax rates on capital gains income permanent.