Bill > HR2908

This bill, known as the Middle Class Savings Act, proposes changes to capital gains tax brackets by adjusting the income thresholds for different tax rates in the Internal Revenue Code. Specifically, the bill increases the income ranges for capital gains taxation across several income levels: for lower-income brackets, the threshold for lower capital gains rates would increase from $77,200 to $103,350, and from $51,700 to $69,200; for higher-income brackets, the thresholds would increase from $479,000 to $626,350, from $452,400 to $591,600, and from $425,800 to $591,600. These adjustments effectively expand the income ranges at which lower capital gains tax rates apply, potentially providing tax relief for middle-class taxpayers by allowing more income to be taxed at reduced rates. The changes would take effect for taxable years beginning after December 31, 2024, giving taxpayers and tax professionals time to prepare for the new bracket structures.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/2908/all-info