US SB2033 | 2011-2012 | 112th Congress
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 23 2012 - 25% progression, died in committee
Action: 2012-01-23 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 23 2012 - 25% progression, died in committee
Action: 2012-01-23 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Closing the Derivatives Blended Rate Loophole Act - Amends the Internal Revenue Code to treat all gain or loss with respect to a section 1256 contract (i.e., any regulated futures contract, foreign currency contract, nonequity option, dealer equity option, and dealer securities future contract) as short-term capital gain or loss (currently, 60% of such gain or loss is treated as long-term capital gain or loss and is thus taxed at lower marginal rates).
Title
Closing the Derivatives Blended Rate Loophole Act
Sponsors
Sen. Carl Levin [D-MI] |
History
Date | Chamber | Action |
---|---|---|
2012-01-23 | Senate | Read twice and referred to the Committee on Finance. |
2012-01-23 | Senate | Sponsor introductory remarks on measure. (CR S45) |
Subjects
Accounting and auditing
Capital gains tax
Commodities markets
Income tax rates
Securities
Tax administration and collection, taxpayers
Taxation
Capital gains tax
Commodities markets
Income tax rates
Securities
Tax administration and collection, taxpayers
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/112th-congress/senate-bill/2033/all-info |
Text | https://www.congress.gov/112/bills/s2033/BILLS-112s2033is.pdf |