Invest in America Act of 2015

Bill: 114-hr-3017
Sponsor: full_name: Rep. Williams, Roger [R-TX-25]
Introduced: 2015-07-09
Policy area: Taxation
Subjects: Capital gains tax

Income tax rates
Latest action: action_date: 2015-07-09
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2015-07-09
action_desc: Introduced in House
text: <p><strong>Invest in America Act of 2015 </strong></p> <p>This bill amends the Internal Revenue Code to modify the formula for calculating the tax on the net capital gains of individual taxpayers to provide for a maximum 15% rate on the adjusted net capital gain of such taxpayers. </p>

tv_txt: I 114th CONGRESS 1st Session H. R. 3017 IN THE HOUSE OF REPRESENTATIVES July 9, 2015 Mr. Williams 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 make the maximum capital gains rate for individuals 15 percent.

1. Short title This Act may be cited as the Invest in America Act of 2015 . 2. 15 percent maximum capital gains rate (a) In general Section 1(h) of the Internal Revenue Code of 1986 is amended by striking subparagraphs (C) and (D), by redesignating subparagraphs (E) and (F) as subparagraphs (D) and (E), respectively, and by inserting after subparagraph (B) the following new subparagraph: (C) 15 percent of the adjusted net capital gain (or, if less, taxable income) in excess of the amount on which a tax is determined under subparagraph (B), . (b) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2014.