H.R. 1780 · 108th Congress
To amend the Internal Revenue Code of 1986 to eliminate the tax on the net capital gain of taxpayers other…
Full title
To amend the Internal Revenue Code of 1986 to eliminate the tax on the net capital gain of taxpayers other than corporations, to exclude interest and dividends from gross income, and to repeal the 1993 income tax increase on Social Security benefits.
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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
BeauprezSponsor7 cosponsors · 7 R
4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Internal Revenue Code to exclude from individual gross income: (1) net capital gains; and (2) interest and dividends, not including dividends from farmers' cooperative associations, regulated investment companies and real estate investment trusts, and employee stock ownership plans.
What it does: CRS summary · Introduced in House · Apr 11, 2003
Repeals the 85 percent (second tier) taxation of Social Security and Railroad Retirement benefits. Transfers from the general fund in the Treasury to the Hospital Insurance Trust Fund amounts equal to the resultant reduction in revenues.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend the Internal Revenue Code of 1986 to eliminate the tax on the net capital gain of taxpayers other than corporations, to exclude interest and dividends from gross income, and to repeal the 1993 income tax increase on Social Security benefits.
Latest action (Apr 11, 2003): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Apr 11, 2003
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.