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

[AI summary unavailable — showing source text] Title I: Statement of Antitrust Policy - Amends the Clayton Antitrust Act to set forth Congressional findings that private antitrust suits are a vital part of the effort to enforce the antitrust laws and that taxation of punitive damages received by private antitrust litigants discourages such litigants from filing suit. Title II: Amendments to the Internal Revenue Code of 1954 - Amends the Internal Revenue Code to exclude from gross income punitive damages (two-thirds of antitrust treble damages) received by a private 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.…