The 1990 budget deal restored the capital gains preference

Evidence

Unfortunately, that legislative compromise was short-lived. In 1990, Congress increased the marginal tax rate on ordinary income like wages to 31 percent but kept the preferential rate at 28 percent. President George H. W. Bush had campaigned for president in 1988 vowing to keep a tax preference for capital gains rates, and he continued to push for that as he sought reelection in 1992. — Dorothy A. Brown, The Whiteness of Wealth, 490

Categorization

• XREF: connects to: Preferential capital gains rates were repealed in 1986 and later restored; The 1986 act taxed capital gains and wages equally — Dorothy A. Brown, The Whiteness of Wealth: How the Tax…, 489; US tax law historically favored capital gains over dividend income for investors — Donald MacKenzie, An Engine, Not a Camera: How Financial…, 185
• yield-rescued: below the book’s yield-target cutoff, included anyway for connecting to: Preferential capital gains rates were repealed in 1986 and later restored; The 1986 act taxed capital gains and wages equally — Dorothy A. Brown, The Whiteness of Wealth: How the Tax…, 489; US tax law historically favored capital gains over dividend income for investors — Donald MacKenzie, An Engine, Not a Camera: How Financial…, 185

Broader Connections

• Preferential capital gains rates were repealed in 1986 and later restored #corroborates (0.93)