GovTrack’s Bill Summary
We don’t have a summary available yet.
H.R. 854 (103rd): Senior Citizen Capital Gains Rate Reduction Act of 1993
- Introduced:
- Feb 04, 1993 (103rd Congress, 1993–1994)
- Sponsor:
- Rep. John Myers [R-IN7]
- Status:
- Died (Referred to Committee)
The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.
Library of Congress Summary
The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.
2/4/1993--Introduced.
Senior Citizen Capital Gains Rate Reduction Act of 1993 - Amends the Internal Revenue Code to reduce the individual capital gains rate for the sale of retirement assets by a taxpayer who has attained the age of 60 or older. Allows such reduced rate, in the case of a joint tax return, if either person has attained such age. Reduces the alternative minimum tax rate on capital gains for such taxpayers. Provides for indexing such retirement assets held for more than five years before their disposition for purposes of determining gain or loss. Declares that the deduction for depreciation, depletion, and amortization shall be determined without regard to the indexed basis. Provides for determining the indexed amount based upon the gross national product deflator. Provides for indexing the limitation on capital losses of such taxpayers.
House Republican Conference Summary
The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.
No summary available.
House Democratic Caucus Summary
The House Democratic Caucus does not provide summaries of bills.
So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.
We’ll be looking for a source of summaries from the other side in the meanwhile.