S 3153
Capital Gains Inflation Relief Act of 2021
Take action
Record your position on this measure.
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The Capital Gains Inflation Relief Act of 2021 aims to adjust how capital gains are calculated for certain assets. It proposes to index the basis of assets like common stock, digital assets, and tangible property used in a business for inflation, starting after December 31, 2021. This means that when these assets are sold, the profit or loss will be determined using an adjusted basis that reflects the impact of inflation, potentially reducing tax liabilities. The bill also includes specific rules for how this indexing applies to investments held in entities like REITs and S corporations, as well as addressing related-party transactions and transfers intended to increase the indexing adjustment.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Cosponsors
James M. Inhofe
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yoursRead the latest version inline or switch to a previous version.