- Stage
- In committee
- Started in
- Senate
- Sponsors
- 4
- Latest action
- Mar 17, 2026
What it does
The Equal Tax Act would amend the Internal Revenue Code to eliminate preferential tax rates for capital gains and dividends for taxpayers with taxable income exceeding $1,000,000, subjecting such gains to ordinary income tax rates. It would also require that capital gains be deemed realized at the time of gift or death, treating transferred property as sold at fair market value, with exceptions for transfers to spouses, certain tangible personal property, and charitable contributions. The bill includes provisions to adjust basis rules for gifts and inheritances to align with deemed realization, excludes up to $1,000,000 of capital gains from transfers at death (with inflation adjustments…
No official summary is available here. This one was written by AI from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
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Where it goes next
While a bill can still move, the questions are about people and money.