No Capital Gains Allowance for American Adversaries Act
118-HR-7760118th CongressIntroduced Mar 20, 2024Taxation
Market Probability
No market
Status
Introduced
Committee
Floor Vote
Other Chamber
Signed
Referred to the House Committee on Ways and Means.
Sponsor
Rep. Sherman, Brad [D-CA-32](D-CA-32)6 cosponsors
Summary
No Capital Gains Allowance for American Adversaries Act
This bill treats gains and dividends derived from transactions involving countries of concern as ordinary income. The bill defines countries of concern to include China (including Hong Kong and Macao and excluding Taiwan), Russia, Belarus, Iran, and North Korea.
Actions (3)
Referred to the House Committee on Ways and Means.
Mar 20, 2024House floor actions
Introduced in House
Mar 20, 2024Library of Congress
Introduced in House
Mar 20, 2024Library of Congress