Levin has announced that he will move a new tax bill with business-related tax cuts in House Ways & Means on March 17. It's called the Small
Business and Infrastructure Jobs Tax Act of 2010.
One of the tax cuts he proposes was put forward by the Obama administration in its Fy 2011 budget--a 100% capital gains exclusion for "small business" stock sales. That gives millions in tax breaks to investors who own the stock of businesses from startup--something that reinforces the inequity of the preferential rate for capital gains, in spades. I had hoped Levin would step back and consider that the preferential capital gains rate is problematic and not something to be extended to even more of the Code.
The legislation is summarized here. Text of the discussion draft is here.
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