I 
112TH CONGRESS 
1ST SESSION H. R. 2892 
To amend the Internal Revenue Code of 1986 to suspend the capital gains 
tax for 10 years for taxpayers other than corporations. 
IN THE HOUSE OF REPRESENTATIVES 
SEPTEMBER 12, 2011 
Mr. FINCHER introduced the following bill; which was referred to the 
Committee on Ways and Means 
A BILL 
To amend the Internal Revenue Code of 1986 to suspend 
the capital gains tax for 10 years for taxpayers other 
than corporations. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Invest in America Act 
of 2011’’. 
SEC. 2. TEMPORARY EXCLUSION OF NET CAPITAL GAIN OF 
TAXPAYERS OTHER THAN CORPORATIONS. 
(a) IN GENERAL.—Part I of subchapter P of chapter 
1 of the Internal Revenue Code of 1986 (relating to treat-
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ment of capital gains) is amended by adding at the end 
the following new section: 
‘‘SEC. 1203. TEMPORARY EXCLUSION OF NET CAPITAL GAIN 
OF 
TAXPAYERS 
OTHER 
THAN 
CORPORA-
TIONS. 
‘‘(a) IN GENERAL.—In the case of a taxpayer other 
than a corporation, gross income shall not include an 
amount equal to the net capital gain of the taxpayer for 
the taxable year. 
‘‘(b) DIVIDENDS TREATED AS NET CAPITAL GAIN.— 
For purposes of this section, the term ‘net capital gain’ 
means net capital gain (determined without regard to this 
subsection) increased by qualified dividend income (as de-
fined in section 1(h)(11)). 
‘‘(c) APPLICATION OF SECTION.—This section shall 
apply to taxable years beginning after December 31, 2011, 
and before January 1, 2022.’’. 
(b) CONFORMING AMENDMENTS.— 
(1) Subsection (h) of section 1 of such Code is 
amended by adding at the end the following new 
paragraph: 
‘‘(12) APPLICATION
OF
SUBSECTION
SUS-
PENDED
DURING
EXCLUSION
OF
NET
CAPITAL 
GAIN.—This subsection shall not apply to taxable 
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years beginning after December 31, 2011, and be-
fore January 1, 2022.’’. 
(2) Paragraph (3) of section 55(b) of such Code 
is amended by adding at the end the following flush 
sentence: 
‘‘This paragraph shall not apply to taxable years be-
ginning after December 31, 2011, and before Janu-
ary 1, 2022.’’. 
(3) Section 1222 of such Code is amended by 
adding at the end the following new sentence: 
‘‘Determinations under this section shall be made before 
the application of section 1203.’’. 
(4) The table of sections for part I of sub-
chapter P of chapter 1 of such Code is amended by 
adding at the end the following new item: 
‘‘Sec. 1203. Exclusion of net capital gain of taxpayers other than corpora-
tions.’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2011. 
Æ 
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