S. 96 · 108th Congress
Contract With Investors
- Stage
- In committee
- Sponsor
- Jon Kyl
- Introduced
- 2003-01-07
- Latest action
- 2003-01-13 · Sponsor introductory remarks on measure.
Summary
Contract With Investors - Amends the Economic Growth and Tax Relief Reconciliation Act of 2001 to repeal the sunset provisions of such Act.Amends the Internal Revenue Code to: (1) accelerate individual income tax rate reductions; (2) accelerate the repeal of estate and generation-skipping transfer taxes; (3) reduce maximum capital gains tax rates for individuals; (4) increase capital loss limitations for individuals; (5) accelerate contribution increases for certain retirement plans; (6) increase the age for mandatory retirement and pension plan distributions; and (7) exclude from gross income dividends received by individuals from domestic, publicly traded C corporations, with exceptions.Expresses the sense of the Senate that Congress should: (1) pass legislation to safeguard workers' pension and retirement accounts; (2) modernize international tax provisions to permit U.S. companies to better compete internationally; (3) repeal outdated regulatory burdens on U.S. investors and companies; (4) enact tort reform; and (5) simplify the Federal tax code and reduce the cost recovery periods for businesses.