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.