A bill to amend the Internal Revenue Code of 1954 with respect to punitive damages received by private litigants in antitrust actions.

[AI summary unavailable — showing source text] 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.…