Prohibiting Taxation of Unrealized Capital Gains
This bill aims to prevent the introduction of a new tax on unrealized capital gains. This means citizens would not have to pay tax on assets that have increased in value until they are sold or transferred. It seeks to protect savings and investments from taxation before they generate actual income.
Key points
Prohibits the federal government from imposing taxes on unrealized gains from assets like stocks, real estate, or gifts.
This means you won't pay tax on the increased value of your investments until you sell them and realize an actual profit.
Expired
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