A bill to amend the Internal Revenue Code of 1986 to treat certain gains and dividends derived from counties of concern as ordinary income.
No Capital Gains Allowance for American Adversaries Act
This bill treats gains and dividends derived from transactions involving countries of concern as ordinary income. The bill defines countries of concern to include China (including Hong Kong and Macao and excluding Taiwan), Russia, Belarus, Iran, and North Korea.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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