Bills target inflation, capital gains
Companion bills on Capitol Hill aim to take inflation into consideration when it comes to long-term capital gains.
Companion bills on Capitol Hill aim to take inflation into consideration when it comes to long-term capital gains. HR 1261 would index for inflation the cost basis used in calculating the capital gains tax on assets purchased in 2008 or later. The bill, which now has 85 co-sponsors, was referred to the House Ways and Means Committee. Its companion bill, S 892, is awaiting consideration by the Senate Finance Committee. For details, visit http://thomas.loc.gov
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