Equal Tax Act

This bill would change federal income tax rules on capital gains and investment income starting in 2026. Lower tax rates for dividends and capital gains would apply only to income up to $1,000,000. Property given away or passed on at death would be treated as sold at its market value, with exceptions for spouses and charities. The first $1,000,000 of such gain at death would not be taxed, family farms and businesses would get extra relief, and heirs could pay the tax over up to 5 years. The bill would also cap tax-free gains from real estate swaps, limit a deduction for business income, and require reporting of certain gifts and bequests.

Full text and official record on Congress.gov

Sponsors

• Delia C. Ramirez Democrat sponsor
• 17 cosponsors