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.

Today, Congressman Brad Sherman (CA-32) and Congressman Juan Vargas (CA-52) released the following statement upon the release of the Federal Housing Finance Administration's (FHFA) report on the Federal Home Loan Bank (FHLBank) system, FHLBanks at 100: Focusing on the Future:

WASHINGTON, D.C. – Representatives Brad Sherman (D-Calif.), Katie Porter (D-Calif.) and Don Beyer (D-Va.) along with United States Senators Elizabeth Warren (D-Mass.) and Patty Murray (D-Wash.) released the following statement on the announcement by the U.S. Department of Treasury and the Internal Revenue Service (IRS) of its 2024 pilot of Direct File, a program that will allow Americans to file tax returns digitally and free of charge.

Republicans seem indifferent to whether our men and women in uniform get paid, or whether pregnant women and infants get food.

WASHINGTON, D.C. – Congressman Brad Sherman (CA-32), senior member of the House Financial Services Committee and Ranking Member of the Subcommittee on Capital Markets, and Congresswoman Ann Wagner (MO-02), Chairwoman of the Subcommittee on Capital Markets, were joined by thirty-six of their colleagues on both sides of the aisle in a letter to the U.S.

WASHINGTON, DC -- The Biden administration proposed new rules for cryptocurrency brokers as Congress and regulatory agencies are looking to crack down on crypto tax evasion. The new rules would requirecryptocurrency brokersto report information on digital asset sales and exchanges to the Internal Revenue Services (IRS) and taxpayers.