S 75 · 97th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to encourage capital investment by individuals and corporations.

Introduced 1981-01-06· Sponsored by Sen. Wallop, Malcolm [R-WY]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Read second time and referred to Senate Committee on Finance.(1981-01-06)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to increase from 60 percent to 75 percent the noncorporate capital gains deduction from gross income. Reduces the alternative minimum tax rate. Reduces from 28 percent to 17.5 percent the corporate alternative tax rate on capital gains.…

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

Cosponsors (18)

5 Democrats12 Republicans1 Independent
Sen. Moynihan, Daniel Patrick [D-NY]NY
Sen. Cranston, Alan [D-CA]CA
Sen. Tower, John G. [R-TX]TX
Sen. Symms, Steven D. [R-ID]ID
Sen. Percy, Charles H. [R-IL]IL
Sen. Byrd, Harry F., Jr. [I-VA]VA
Sen. Lugar, Richard G. [R-IN]IN
Sen. Bentsen, Lloyd M. [D-TX]TX
Sen. Boren, David L. [D-OK]OK
Sen. Andrews, Mark [R-ND]ND
Sen. Mattingly, Mack [R-GA]GA
Sen. Garn, E. J. (Jake) [R-UT]UT
Sen. Schmitt, Harrison H. [R-NM]NM
Sen. Simpson, Alan K. [R-WY]WY
Sen. DeConcini, Dennis [D-AZ]AZ
Sen. Kasten, Robert W., Jr. [R-WI]WI
Sen. Goldwater, Barry [R-AZ]AZ
Sen. Mathias, Charles McC., Jr. [R-MD]MD