REV-22 TAX CAPITAL GAINS HELD UNTIL DEATH

                                Annual Added Revenues
                                (Billions of dollars)             Cumulative
Addition to          -----------------------------------------    Five-Year
CBO Baseline         1994     1995      1996     1997     1998     Addition
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Include Gains in the
Last Income Tax
Return of Deceaseda      b      7.3       7.7      8.1      8.5       31.6

Enact
Supplemental
10 Percent
Estate Tax               b      0.7       0.8      0.8      0.9        3.2

Enact Carryover
Basis                    b      0.7       1.5      2.4      3.4        8.1
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SOURCE:  Joint Committee on Taxation.

a.  Estimate is net of reduced estate tax revenues.

b.  Less than $50 million.

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