Date: November 15, 1989
Subject: Capital Gains Tax Cut
Description: Motion to invoke cloture (thus limiting debate) on the Packwood (R-OR) substitute amendment to exclude capital gains from taxable income in the amount of 5 percent for each full year an asset is held (to a maximum of 35 percent) and to make Individual Retirement Accounts available to all taxpayers with varying tax benefits.
Result: Cloture Motion Rejected, 51-47
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