Search Results: keywords:"wealth inequality"

  • H. R. 2089 — To amend the Internal Revenue Code of 1986 to allow individuals to defer recognition of reinvested capital gains distributions from regulated investment companies.
    Status:Introduced in House
    Words:810

    H.R. 2089 aims to change the Internal Revenue Code to allow individuals to delay paying taxes on capital gains from mutual funds, as long as those gains are reinvested in additional shares of the mutual fund. This deferral ends when the individual sells the shares, redeems...

    Simple Explanation

    H.R. 2089 is a plan to let people wait on paying taxes on money they earn from investments in certain funds if they use that money to buy more shares in the same fund. But when they sell the shares or pass away, they will need to pay the taxes then.

  • S. 587 — To amend the Internal Revenue Code of 1986 to repeal the estate and generation-skipping transfer taxes, and for other purposes.
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    Status:Introduced in Senate
    Words:1,614

    S. 587 aims to eliminate the estate and generation-skipping transfer taxes by amending the Internal Revenue Code of 1986. This bill, known as the "Death Tax Repeal Act of 2025," would prevent these taxes from applying to estates and transfers occurring after its enactment. It...

    Simple Explanation

    The bill wants to stop certain taxes when someone passes away and leaves money to others. It also changes how money given as gifts is taxed, making it easier for people to give away money without paying extra taxes.

  • H. R. 7035 — To amend the Internal Revenue Code of 1986 to repeal the estate and generation-skipping transfer taxes.
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    Status:Introduced in House
    Words:2,042

    H.R. 7035, also known as the "Death Tax Repeal Act," proposes to eliminate the estate tax and the generation-skipping transfer tax, which are taxes imposed on transfers of wealth at death and to grandchildren, respectively. The bill aims to change the Internal Revenue Code of...

    Simple Explanation

    H.R. 7035 wants to stop certain taxes when people give money or things to their family after they pass away, making it easier for families to keep their stuff without paying extra. But, some people worry this might not be fair because it could let rich people keep getting richer without sharing.

  • H. R. 110 — To amend the Internal Revenue Code of 1986 to expand the deduction for qualified business income, and for other purposes.
    Status:Introduced in House
    Words:986

    The bill titled H. R. 110 seeks to amend the Internal Revenue Code to make the deduction for qualified business income permanent and increase it to achieve a 21% top rate. It proposes to remove certain limitations and exclusions, such as those based on W-2 wages and specified...

    Simple Explanation

    This bill wants to make some permanent changes to how people or businesses pay taxes by letting them keep more money and not paying as much, especially if they own a business, and it also suggests getting rid of a tax that is paid when someone gives away their money after they die.