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101st Congress > Senate > Vote 253

Date: October 20, 1989

Result: 93-2 (Motion Agreed to)

Clerk session vote number: 253

Vote Subject Matter: Miscellaneous Policy / Internal Organization

Sponsor: MITCHELL, George John (D-ME)

Bill number: HR499

Question: On the Motion

Description: A bill to amend the Internal Revenue Code of 1986 to provide for the indexing of certain assets and for a 15 percent maximum rate of tax on net capital gain.

Bill summary: Amends the Internal Revenue Code to require indexing, based on the gross national product deflator, of the adjusted basis of certain assets (corporate stock and tangible property that is a capital asset of property used in a trade or business) that have been held for more than one year at the time of sale or other transfer, solely for the purpose of determining gain or loss. Reduces from 34 percent to 15 percent the alternative tax rate on capital gains realized by a corporation.

Bill titles: To amend the Internal Revenue Code of 1986 to provide for the indexing of certain assets and for a 15 percent maximum rate of tax on net capital gain.

Original source documents: Digest of the Congressional Record vol. 135, p. 13782;

Links for more info on the vote: congress.gov

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