Search Results: keywords:"patriotic investment act"

  • S. 5188 — To amend the Internal Revenue Code of 1986 to incentivize the divestiture of certain securities connected to the People’s Republic of China.
    Status:Introduced in Senate
    Words:2,160

    The bill, known as the "Patriotic Investment Act," aims to encourage the sale of certain securities tied to the People's Republic of China by changing how profits from these sales are taxed. It proposes treating gains from selling these "disqualified PRC securities" as regular income, subject...

    Simple Explanation

    The bill wants people to sell certain types of stocks related to China by making taxes on these sales higher, and it lets them pay their taxes in smaller parts over three years. This helps encourage people to invest less in China and more in the U.S. instead.

  • H. R. 9843 — To amend the Internal Revenue Code of 1986 to incentivize the divestiture of certain securities connected to the People’s Republic of China.
    Status:Introduced in House
    Words:2,128

    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.