No Capital Gains Allowance for American Adversaries Act
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Read twice and referred to the Committee on Finance.
Official Summary
Official summary has not been imported yet.
GovScope Watchdog™
AI Government Intelligence™The No Capital Gains Allowance for American Adversaries Act is a Senate bill introduced in the 118th Congress aimed at modifying the taxation of capital gains for certain designated adversaries of the United States. The bill's text and detailed provisions are not publicly available, but its title and policy area indicate it seeks to eliminate or restrict capital gains tax allowances for these adversaries. The bill was read twice and referred to the Committee on Finance but ultimately failed or expired without becoming law.
This bill proposed to deny capital gains tax allowances to specified adversaries of the U.S., but it did not advance beyond committee referral and expired in the 118th Congress.
- The bill targets capital gains tax treatment specifically for American adversaries.
- It was introduced in the Senate during the 118th Congress and referred to the Committee on Finance.
- No official summary or full text is publicly available, limiting detailed analysis.
The bill aims to affect individuals or entities classified as American adversaries by removing capital gains allowances, potentially benefiting U.S. taxpayers by increasing tax revenue or limiting economic benefits to adversaries.
Lack of publicly available full text and summary limits understanding of implementation mechanisms, enforcement authority, and potential administrative costs. The definition of 'American adversaries' and criteria for application are unclear, which could complicate enforcement and oversight.
The bill was introduced in the Senate and referred to the Committee on Finance during the 118th Congress but did not progress further. It relates to taxation policy and national security considerations by targeting economic benefits to adversaries. The failure or expiration status indicates it did not receive sufficient legislative support or priority.
Hidden impact flags detected: 2
GovScope reviewed 2 policy-risk categories. Hover for a quick definition. Click detected flags for bill-specific details.
If enacted, the bill could lead to increased scrutiny and reporting requirements for capital gains transactions involving entities or individuals identified as adversaries, potentially affecting financial institutions and compliance costs. It may also influence international investment flows and diplomatic relations with countries associated with these adversaries.
The absence of a full bill text and official summary limits transparency and public understanding of the bill's provisions and impacts. Oversight bodies would need clear definitions and enforcement guidelines to monitor compliance and assess effectiveness. The bill's failure to advance suggests limited legislative support or unresolved policy issues.
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