H.R. 9843, known as the "Patriotic Investment Act," aims to amend the Internal Revenue Code of 1986 to encourage the sale of certain securities linked to the People’s Republic of China. The bill proposes treating gains from these securities as ordinary income and subjecting them to the...
Simple Explanation
This bill wants to make people pay more taxes if they own certain money-related things from China, so they will want to sell them. It hopes to make these things less interesting to own by making any profits from them cost more in taxes.