Amendment · S.Amdt. 2442· Senate(119-SAMDT-2442)

S.Amdt. 2442

Age: 64 years

Wisconsin

Introduced: 6/29/2025
Sponsored by: Tammy Baldwin
Cosponsors: - 3 - 0

Changes bill: 119-HR-1 — One Big Beautiful Bill Act

Introduced
Pending Consideration
Failed

This amendment was never taken up, and the bill finished without it. It was never voted on.

What this amendment would do

This amendment looks at how people who provide investment management services are taxed on their partnership interests and related income. Put simply, it aims to treat certain types of investment income earned by these service providers as ordinary income rather than capital gains.

Modifies income rules: Changes how partnership interests transferred for services are valued and included in gross income.
Recharacterizes gains and losses: Treats net capital gains and losses connected to investment services partnership interests as ordinary income and ordinary losses.
Adds penalties: Imposes a 40 percent penalty on certain underpayments related to avoiding these new rules.