No Capital Gains Allowance for American Adversaries Act

Hozzl · 2025-07-07T19:12:49Z

Explore the details of Senate Bill 2047 No Capital Gains Allowance for American Adversaries Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

7/7/2025, 7:12 PM

Summary of Bill S 2047

The bill introduced in the 119th Congress and numbered S. 2047 aims to amend the Internal Revenue Code of 1986 to classify specific gains and dividends obtained from countries identified as countries of concern as regular income.

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Current Status of Bill S 2047

Bill S 2047 is currently in the status of Bill Introduced since June 12, 2025. Bill S 2047 was introduced during Congress 119 and was introduced to the Senate on June 12, 2025. Bill S 2047's most recent activity was Read twice and referred to the Committee on Finance. as of June 12, 2025

Bipartisan Support of Bill S 2047

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

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Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 2047

Primary Policy Focus

Taxation

Alternate Title(s) of Bill S 2047

A bill to amend the Internal Revenue Code of 1986 to treat certain gains and dividends derived from countries of concern as ordinary income.

Comments

Priscilla Whitehead

1,059

1 year ago

I think this bill is good because it will help make sure that people are paying their fair share of taxes on money they make from countries that are causing problems. It's not fair that some people can make money in these countries and not have to pay as much in taxes as the rest of us. This bill will make sure that everyone is treated equally when it comes to paying taxes on their income. I support this bill because it will help make the tax system more fair for everyone.