[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3265 Introduced in House (IH)]

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117th CONGRESS
  1st Session
                                H. R. 3265

To amend the Internal Revenue Code of 1986 to apply current income tax 
             bracket breakpoints to capital gains brackets.


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                    IN THE HOUSE OF REPRESENTATIVES

                              May 17, 2021

    Mr. Barr (for himself, Mr. LaMalfa, Mr. Allen, Mr. Norman, Mr. 
 Rutherford, Mr. Cline, and Mr. Meuser) introduced the following bill; 
         which was referred to the Committee on Ways and Means

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                                 A BILL


 
To amend the Internal Revenue Code of 1986 to apply current income tax 
             bracket breakpoints to capital gains brackets.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Middle Class Savings Act''.

SEC. 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 
        ``$77,400'',
            (2) by striking ``$51,700'' in clause (i)(II) and inserting 
        ``$51,800'',
            (3) by striking ``$479,000'' in clause (ii)(I) and 
        inserting ``$600,000'',
            (4) by striking ``$452,400'' in clause (ii)(II) and 
        inserting ``$500,000'', and
            (5) by striking ``$425,800'' in clause (ii)(III) and 
        inserting ``$500,000''.
    (b) Effective Date.--The amendments made by this Act shall apply 
with respect to taxable years beginning after the date of enactment of 
this Act.
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