HR 1542 · 101th Congress · Taxation

To amend the Internal Revenue Code of 1986 to provide for a maximum capital gains rate of 15 percent for long-term capital gains to the extent such gains do not exceed $100,000.

Introduced 1989-03-21· Sponsored by Rep. Stangeland, Arlan [R-MN-7]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(1989-03-21)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to reduce the maximum capital gains rate, with respect to up to $100,000 of gain, from: (1) 28 percent to 15 percent for noncorporate taxpayers; and (2) 34 percent to 15 percent for corporate taxpayers.…

Summarized by Claude AI · Non-partisan · For informational purposes only