A bill to amend the Internal Revenue Code of 1954 with respect to punitive damages received by private litigants under the Clayton Act.

Amends the Internal Revenue Code to exclude from gross income punitive damages (two-thirds of antitrust treble damages) received by a private antitrust litigant, if such litigant brings suit against a particular defendant before the Federal Government institutes criminal proceedings. Disallows tax deductions for antitrust punitive damages paid or incurred by a taxpayer.