Bill · H.R. 2908· House(119-HR-2908)
Middle Class Savings Act
- Introduced
- 4/14/2025
- Last activity
- 4/14/2025 — Referred to the House Committee on Ways and Means.
- Sponsored by
- Andy Barr
- Cosponsors
- None
- Introduced
- In Committee
What this bill would do
This bill, titled the "Middle Class Savings Act," seeks to amend the Internal Revenue Code of 1986. It focuses on adjusting the breakpoints used for capital gains tax brackets. Specifically, the legislation changes several dollar amounts within the existing code. These changes would apply to taxable years beginning after December 31, 2024.
Yes· 3 of 10
Would middle-income households be better off under this?+5
The bill provides tax relief to middle-class households by adjusting capital gains thresholds.
Does this cut taxes for middle-income families?+5
The bill increases capital gains tax breakpoints, effectively reducing the tax burden on middle-income earners.
Does this cut the tax on profits from selling investments?+5
Increasing the thresholds for capital gains brackets allows more income to be taxed at lower rates.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
- Adjustment of Capital Gains Breakpoints: The bill increases specific dollar thresholds in the tax code, such as changing "$77,200" to "$103,350" and "$51,700" to "$69,200" in Section 2(a). This change applies current income tax bracket breakpoints to capital gains brackets.
Potential Negative Impacts for People
- No specific negative impacts are listed in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Middle Class Households+5Good For Retirees+3Good For Business Owners+2Good For High Income Households+2Good For High Net Worth Individuals+2Good For Billionaires+1Good For Ultra High Net Worth Individuals+1
- Economy And Finance
- Reduces Capital Gains Tax+5Reduces Middle Class Taxes+5Improves Economic Growth+1
- 4/14/2025
- Referred to the House Committee on Ways and Means.
- Introduced in House