Economy Taxes and Trade
WASHINGTON, D.C. -- Today, Ranking Member of the Capital Markets Subcommittee, Congressman Brad Sherman (D-CA-32), and Congresswoman Victoria Spartz (R-IN-05) announce the introduction of four bills designed to address issues of fairness and risk when Americans invest in Chinese corporations. The most important of these bills would end the capital gains tax break for Americans who invest in Chinese stocks. Sherman and Spartz are also the co-chairs of the bipartisan CPA Caucus.
WASHINGTON, D.C. – Today, Congressman Brad Sherman (CA-32) released a draft of the No Capital Gains Allowance for American Adversaries Act, legislation that would exclude investments in China, Russia, Belarus, and Iran from eligibility for lower capital gains tax rates. Sherman is currently recruiting cosponsors for the bill.