Tax Cuts. This tax revision bill provides for nearly $123 billion in tax cuts, including reductions in estate and gift taxes and deductions for health insurance for self-employed individuals. Also included in the bill is authorization for the Housing and Urban Development secretary to designate 15 renewal communities where investors and residents could receive certain tax breaks, including relief from capital gains taxes on property held for at least five years.
The tax revision bill, H.R. 3081, passed the House on March 9, 2000 by a vote of 257-169 (Roll Call 41). We have assigned pluses to the yeas.
