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Non-Tech : Simula (SMU)
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To: wpckr who wrote (1216)7/12/1998 12:48:00 PM
From: michael c. dodge   of 1671
 


Offthread, but important:

The IRS Restructuring and Reform Act of 1998 passed by the House late last month
reduces the holding period for long term (20%) capital gain taxation from 18 months, to 12 months. The provision is retroactive, covering sales at and after January 1, 1998.

Senate is expected to pass this easily, after returning from July 4 recess. An attempt to
remove this provision from the IRS Reform Act in the House last week failed by vote of 116 to 292.

This has momentum, and Clinton has indicated he will sign it. I do not think the general
(investing) public has picked up on this yet.

There may be some selling when this is recognized. You heard it here first, or maybe not. mcd

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