H.R. 3591, The Middle Class Investor Tax Relief Act of 2007

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

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H.R. 3591 would amend the Internal Revenue Code of 1986 to provide that the net capital gain of certain individuals shall not be subject to tax.

Detailed Summary

Middle Class Investor Tax Relief Act of 2007 - Amends the Internal Revenue Code to allow individual taxpayers a deduction from gross income for their net capital gains. Limits the amount of the deduction based upon taxpayer adjusted gross income.

Status of the Legislation

Latest Major Action: 9/19/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means.

Points in Favor

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Points Against

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