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This bill defers for four years the tax on gain from investment in opportunity zone property.Opportunity zone propertyis property located in low-income communities for which certain tax incentives are provided, including deferral of the recognition of capital gains.

Invest Now Act This bill reduces to 5% the capital gains tax rate for property purchased in 2020 and held by the taxpayer for more than five years.

Middle Class Savings Act This bill modifies the tax brackets that apply to taxes on capital gains. The bill aligns the thresholds with the brackets for the regular income tax rates enacted in P.L. 115-97 (commonly known as the the Tax Cuts and Jobs Act).

American Opportunity Accounts Act This bill requires federally funded and managed savings accounts (American Opportunity Accounts) to be established for American children who are under the age of 18. The bill also increases and modifies (1) estate and gift taxes, and (2) capital gains taxes.

American Opportunity Accounts Act This bill requires federally funded and managed savings accounts (American Opportunity Accounts) to be established for American children who are under the age of 18. The bill also increases and modifies (1) estate and gift taxes, and (2) capital gains taxes.

Hurricane Laura Recovery Opportunity Zones Act This bill designates certain low-income community areas as qualified Hurricane Laura Recovery Opportunity Zones. Such zones are areas for which a major disaster has been declared before September 30, 2020, and which have been determined by the President to warrant individual or public assistance by reason of Hurricane Laura. The bill sets forth special rules for the treatment of capital gains in Hurricane Laura Recovery Opportunity Zones. It also expresses the sense of Congress that the rate of tax on income from capital gains in effect on the enactment date of this bill should not be changed.

COVID-19-Impacted Small Business Opportunity Zone Act This bill designates certain small businesses affected by COVID-19 (i.e., coronavirus disease 2019) as qualified opportunity zone businesses. This designation makes certain tax benefits, including favorable capital gains treatment, available to affected businesses that have experienced supply chain disruptions, staffing challenges, decrease in sales or customers, or partial or full suspension of business.

Carried Interest Fairness Act of 2019 This bill modifies the tax treatment of carried interest, which is compensation that is typically received by a partner of a private equity or hedge fund and is based on a share of the fund's profits. (Under current law, carried interest is taxed as investment income rather than at ordinary income tax rates.) This bill includes provisions that * set forth a special rule for the inclusion in gross income of partnership interests transferred in connection with the performance of services, * treat as ordinary income the net capital gain with respect to an investment services partnership interest except to the extent such gain is attributable to a partner's qualified capital interest, * exempt income from investment services partnership interests from treatment as qualifying income of a publicly traded partnership, * exempt certain family partnerships from the application of this bill, * increase the penalty for underpayments of tax resulting from failure to treat income from an investment services partnership interest as ordinary income, and * include income and loss from an investment services partnership interest for purposes of determining net earnings from self-employment and applicable self-employment taxes. The bill defines "investment services partnership interest" as any interest in a partnership held by a person who provides services to a partnership by (1) advising the partnership about investing in, purchasing, or selling specified assets; (2) managing, acquiring, or disposing of specified assets; or (3) arranging financing with respect to acquiring specified assets.

Carried Interest Fairness Act of 2019 This bill modifies the tax treatment of carried interest, which is compensation that is typically received by a partner of a private equity or hedge fund and is based on a share of the fund's profits. (Under current law, carried interest is taxed as investment income rather than at ordinary income tax rates.) This bill includes provisions that * set forth a special rule for the inclusion in gross income of partnership interests transferred in connection with the performance of services, * treat as ordinary income the net capital gain with respect to an investment services partnership interest except to the extent such gain is attributable to a partner's qualified capital interest, * exempt income from investment services partnership interests from treatment as qualifying income of a publicly traded partnership, * exempt certain family partnerships from the application of this bill, * increase the penalty for underpayments of tax resulting from failure to treat income from an investment services partnership interest as ordinary income, and * include income and loss from an investment services partnership interest for purposes of determining net earnings from self-employment and applicable self-employment taxes. The bill defines "investment services partnership interest" as any interest in a partnership held by a person who provides services to a partnership by (1) advising the partnership about investing in, purchasing, or selling specified assets; (2) managing, acquiring, or disposing of specified assets; or (3) arranging financing with respect to acquiring specified assets.

Invest in America Act This bill repeals several tax provisions that were included in the Foreign Investment in Real Property Tax Act of 1980. The bill repeals provisions that imposed (1) capital gains taxes on dispositions of investments in U.S. real property by foreign citizens, and (2) related tax withholding and reporting requirements.

Stop Wall Street Looting Act This bill generally revises provisions related to the regulation of private equity funds. Among other things, the bill * increases financial and legal liability for these funds in the event of certain violations of law, * gives employee compensation higher priority in bankruptcies, and * generally prohibits the payment of dividends for two years from an acquired asset firm to a private equity fund. The bill modifies the tax treatment of carried interest—compensation that is typically received by a partner of a private equity fund and is based on a share of the fund's profits. (Under current law, carried interest is taxed as investment income rather than at ordinary income tax rates.) Among other things, the bill treats as ordinary income the net capital gain with respect to a private equity fund.

Stop Wall Street Looting Act This bill generally revises provisions related to the regulation of private equity funds. Among other things, the bill * increases financial and legal liability for these funds in the event of certain violations of law, * gives employee compensation higher priority in bankruptcies, and * generally prohibits the payment of dividends for two years from an acquired asset firm to a private equity fund. The bill modifies the tax treatment of carried interest—compensation that is typically received by a partner of a private equity fund and is based on a share of the fund's profits. (Under current law, carried interest is taxed as investment income rather than at ordinary income tax rates.) Among other things, the bill treats as ordinary income the net capital gain with respect to a private equity fund.

Progressive Consumption Tax Act of 2020 This bill revises the federal income tax system by, among other things, imposing a 10% consumption tax on specified supply items, including (1) the sale or provision of property; (2) the performance of services; (3) the grant, assignment, or surrender of real property; (4) the creation, grant, transfer, assignment, or surrender of any right; (5) financial supplies; and (6) entry into, or release from, an obligation or agreement to perform or refrain from performing an act. The bill specifies certain exempt supplies to which the tax does not apply. The bill reduces to three the number of brackets for the individual income tax and reduces the income tax rate to a maximum level of 28%. It treats long-term capital gains and dividends as ordinary income. It also provides for a family allowance based on filing status. The bill repeals limitations on certain itemized tax deductions and restores previously repealed tax deductions, including the deductions for state and local taxes and personal casualty losses.It eliminates the alternative minimum tax. The bill reduces the corporate income tax rate to 17%.

Monetary Metals Tax Neutrality Act of 2019 This bill exempts gains or losses from the sale or exchange of certain coins or bullion from recognition for income tax purposes. The exemption applies to gains or losses from the sale or exchange of (1) gold, silver, platinum, or palladium coins minted and issued by the Department of the Treasury; or (2) refined gold or silver bullion, coins, bars, rounds, or ingots which are valued primarily based on their metal content and not their form.

Virtual Currency Tax Fairness Act of 2020 This bill excludes from gross income, for income tax purposes, up to $200 of gain from the disposition of virtual currency in a personal transaction. The bill definesvirtual currencyas a digital representation of value that is used as a medium of exchange and is not otherwise currency.

Virtual Value Tax Fix Act of 2019 This bill allows an exclusion of gain or loss, for income tax purposes, on like-kind exchanges of virtual currency completed prior to 2025.