Capital Gains Tax Fairness Act of 1993

Read twice and referred to the Committee on Finance.

Congressional Research Service

Official summary

Version 00 · Introduced in Senate · Feb 3, 1993

Capital Gains Tax Fairness Act of 1993 - Title I: Reduction in Capital Gains Tax for Individuals - Amends the Internal Revenue Code to provide a reduction in the capital gains tax for individuals. Allows as a capital gains deduction an amount equal to the sum of: (1) the annual capital gains deduction, plus the lifetime capital gains deduction for nontradable property. Declares the annual capital gains deduction to be the lesser of the net capital gain or $1,000. Declares the lifetime capital gains deduction for nontradable property to be 50 percent of the qualified gain. Makes taxpayers whose incomes exceed $150,000 ineligible for such deduction. Bases the qualified gain on sales and exchanges on or after January 27, 1993. Title II: Depreciation Recapture - Revises provisions concerning the gain from dispositions of certain depreciabale realty to provide for the total amount of depreciation.

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People & committees

Who introduced it

Sen. Dorgan, Byron L. [D-ND] · D–ND

Committees

Finance Committee

0 cosponsorship records, including any withdrawals

Legislative record

Actions

A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.

Feb 3, 1993
Read twice and referred to the Committee on Finance.
Feb 3, 1993
Sponsor introductory remarks on measure. (CR S1175-1176)
Feb 3, 1993
Introduced in Senate

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in Senate · Feb 3, 1993 Formatted Text PDF

Related bills identified by Congress.gov

No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.

Source last updated: Aug 26, 2025. Consult Congress.gov for the current record.

AI Conversation Starters

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Neutral evidence review

Objective

Analyze S.288 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

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Discuss S.288, 103rd Congress: Capital Gains Tax Fairness Act of 1993

Official record: https://www.congress.gov/bill/103rd-congress/senate-bill/288

Text version to examine: Introduced in Senate · 1993-02-03.

Official full text: https://www.congress.gov/103/bills/s288/BILLS-103s288is.htm

Imported record last updated by the source: 2025-08-26T13:49:19Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze S.288 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

Fairness and public impact

Progressive lens

Examine S.288 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

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Discuss S.288, 103rd Congress: Capital Gains Tax Fairness Act of 1993

Official record: https://www.congress.gov/bill/103rd-congress/senate-bill/288

Text version to examine: Introduced in Senate · 1993-02-03.

Official full text: https://www.congress.gov/103/bills/s288/BILLS-103s288is.htm

Imported record last updated by the source: 2025-08-26T13:49:19Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.288 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine S.288 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

View full prompt & sources

Discuss S.288, 103rd Congress: Capital Gains Tax Fairness Act of 1993

Official record: https://www.congress.gov/bill/103rd-congress/senate-bill/288

Text version to examine: Introduced in Senate · 1993-02-03.

Official full text: https://www.congress.gov/103/bills/s288/BILLS-103s288is.htm

Imported record last updated by the source: 2025-08-26T13:49:19Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.288 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine S.288 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss S.288, 103rd Congress: Capital Gains Tax Fairness Act of 1993

Official record: https://www.congress.gov/bill/103rd-congress/senate-bill/288

Text version to examine: Introduced in Senate · 1993-02-03.

Official full text: https://www.congress.gov/103/bills/s288/BILLS-103s288is.htm

Imported record last updated by the source: 2025-08-26T13:49:19Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.288 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.