End Tax Breaks for Dark Money Act

House Bill 7244 - End Tax Breaks for Dark Money Act: Overview, Status, and Impact

Hozzl · 2024-03-14T04:05:25Z

Explore the details of House Bill 7244 End Tax Breaks for Dark Money Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

3/14/2024, 4:05 AM

Congressional Summary of HR 7244

End Tax Breaks for Dark Money Act

This bill extends the capital gains tax on transfers of appreciated property to certain tax-exempt social organizations (e.g., civics leagues, agricultural organizations, or business leagues). Currently, the tax is imposed only on transfers to political organizations.

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Current Status of Bill HR 7244

Bill HR 7244 is currently in the status of Bill Introduced since February 6, 2024. Bill HR 7244 was introduced during Congress 118 and was introduced to the House on February 6, 2024. Bill HR 7244's most recent activity was Referred to the House Committee on Ways and Means. as of February 6, 2024

Bipartisan Support of Bill HR 7244

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 7244

Primary Policy Focus

Taxation

Alternate Title(s) of Bill HR 7244

End Tax Breaks for Dark Money Act

To amend the Internal Revenue Code of 1986 to treat transfers of appreciated property to certain tax-exempt organizations the same as transfers of appreciated property to political organizations.