A bill to amend the Internal Revenue Code of 1986 to prevent high net worth individuals from receiving tax windfalls for entering government service.
No Windfalls for Government Service Act
This bill amends the Internal Revenue Code to establish a $1 million lifetime limitation on the nonrecognition of a taxpayer's gains from the sale of property pursuant to a certificate of divesture to comply with conflict-of-interest requirements for certain federal government positions.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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