H.R. 7253 · 110th Congress
Economic Growth and Financial Stabilization Act of 2008
Key: what the circles and colors mean
Each circle is a bill. The ring fills as it moves through Congress:
Under the number: the Yea · Nay count of its final (or latest) recorded vote. On a member's page, the small badge is how that member voted: Y Yea / Aye, N Nay / No, P Present, – Not voting.
Gold and violet are only for Yea and Nay; they never mean a party. A member's party is the letter on their photo.
Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
AderholtSponsorNo cosponsors.
Economic Growth and Financial Stabilization Act - Amends the Internal Revenue Code to prescribe a 0% capital gains rate for individuals.
What it does: CRS summary · Introduced in House · Oct 3, 2008
Economic Growth and Financial Stabilization Act - Amends the Internal Revenue Code to prescribe a 0% capital gains rate for individuals.
Revises the formula for: (1) the alternative tax for corporations to prescribe a 0% capital gains rate; and (2) the ordinary income tax for corporations by eliminating the two tax rate brackets above 25% and reducing the maximum amount of tax imposed.
Establishes in the Department of the Treasury a Distressed Assets Loan Fund under the control of the Secretary of the Treasury to make loans available at low rates of interest to depository institutions with distressed assets.
Amends the Federal Deposit Insurance Act and the Federal Credit Union Act to increase from $100,000 to $250,000 the maximum amount of deposit insurance and share insurance, respectively.
Treats gain or loss from the sale or exchange of any applicable preferred stock by any applicable financial institution as ordinary income or loss.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Economic Growth and Financial Stabilization Act of 2008
Latest action (Oct 3, 2008): Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Oct 3, 2008
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.