The 2003 Act reduced it a bit:
"Figuring out the applicable capital gains tax rate to apply in 2003 can be very tricky. Prior to May 6, 2003, if you've held an asset for over a year, the maximum capital gains tax rate that applies to an asset sale is generally 20 percent (10 percent for taxpayers in the 10 or 15 percent tax brackets). Also, long-term capital gains property that has been held for more than five years will be taxed at a maximum rate of 18 percent (8 percent for taxpayers in the 10 or 15 percent brackets).
The special 18 percent rate will apply only to property first put into service after 2000, except that for taxpayers in the 15 percent tax bracket, the special 8 percent rate applies to property first put into service after 1995. Taxpayers who already hold assets used in a trade or business on January 1, 2001 and dispose of the assets in 2002 may elect to take advantage of the special 18 percent rate for five-year property. At the end of 2000, Congress eliminated a perceived loophole related to this election by making the election ineffective for assets sold in 2001.
As a result of the Jobs and Growth Tax Relief Reconciliation Act of 2003 and effective from May 6, 2003, through the end of 2007, the maximum capital gains rate drops to 15 percent and to 5 percent for the lowest two income brackets. The special five-year holding period, with its associated rates, is eliminated.
Because of the overlapping that may occur, special computations must be made to figure out an individual's long-term capital gains tax for a tax year that includes May 6, 2003. As a result, you are strongly urged to seek professional tax help should this become an issue for you. "
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