Middle Class Savings Act

Bill: 119-hr-2908
Sponsor: full_name: Rep. Barr, Andy [R-KY-6]
Introduced: 2025-04-14
Policy area: Taxation
Latest action: action_date: 2025-04-14
text: Referred to the House Committee on Ways and Means.

Summaries:

tv_txt: I 119th CONGRESS 1st Session H. R. 2908 IN THE HOUSE OF REPRESENTATIVES April 14, 2025 Mr. Barr introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to apply current income tax bracket breakpoints to capital gains brackets.

1. Short title This Act may be cited as the Middle Class Savings Act . 2. Application of current income tax bracket breakpoints to capital gains brackets (a) In general Section 1(j)(5)(B) of the Internal Revenue Code of 1986 is amended— (1) by striking $77,200 in clause (i)(I) and inserting $103,350 , (2) by striking $51,700 in clause (i)(II) and inserting $69,200 , (3) by striking $479,000 in clause (ii)(I) and inserting $626,350 , (4) by striking $452,400 in clause (ii)(II) and inserting $591,600 , and (5) by striking $425,800 in clause (ii)(III) and inserting $591,600 . (b) Effective date The amendments made by this Act shall apply with respect to taxable years beginning after December 31, 2024.