No-Tax Status Amendment
Messrs. Tarr, O'Connor and Fattman move that the proposed new text be amended in line 1485 by striking out the figure:- “$4,000” and inserting in place thereof the following:- “$5,000”; and by inserting after section __ the following sections:- "SECTION XX. Paragraph (1) of subsection (a) of section 4 of said chapter 62, as so appearing, is hereby amended by inserting, in line 5, after the word 'cent' the following words:- 'provided, however, that any gain from the sale or exchange of capital assets held for 1 year or less shall be taxed at the rate of 5 per cent'. SECTION XX. Paragraph (1) of subsection (a) of section 5 of said chapter 62, as so appearing, is hereby amended by striking …
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