[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H. Con. Res. 211 Introduced in House (IH)]







105th CONGRESS
  2d Session
H. CON. RES. 211

Opposing increased Federal income taxes on variable annuities and other 
                          variable contracts.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 11, 1998

   Mr. Paul submitted the following concurrent resolution; which was 
              referred to the Committee on Ways and Means

_______________________________________________________________________

                         CONCURRENT RESOLUTION


 
Opposing increased Federal income taxes on variable annuities and other 
                          variable contracts.

Whereas variable annuities and variable life insurance contracts provide an 
        important means for individuals to save for retirement;
Whereas most variable contracts are held by moderate income individuals to 
        provide retirement income;
Whereas Congress should not negatively interfere with an individual's private 
        savings plans nor discourage savings; and
Whereas the President's proposed Federal budget would increase taxes on those 
        using variable contracts and thereby would discourage retirement savings 
        and financial planning: Now, therefore, be it
    Resolved by the House of Representatives (the Senate concurring), 
That it is the sense of the Congress that no increased taxes should be 
imposed on the use of variable annuities and other variable contracts.
                                 <all>