HR 7244
End Tax Breaks for Dark Money Act
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Bill overview
This bill, the End Tax Breaks for Dark Money Act, aims to increase transparency in political spending by extending the capital gains tax currently applied to transfers of appreciated property to political organizations to a broader range of tax-exempt organizations. Specifically, it expands the definition of ‘specified organization’ to include organizations described in sections 501(c) of the Internal Revenue Code, which encompasses many non-profit groups. The goal is to reduce the ability of these organizations to shield property gains from taxation, potentially limiting their influence in elections and political activities. This legislation seeks to level the playing field between organizations that engage in political activity and those that do not.
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Primary sponsor
Cosponsors
Barbara Lee
Becca [D-VT-At Large] Balint
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