Referred to the House Committee on Ways and Means.
This bill amends the Internal Revenue Code to (1) exclude notes, bonds, debentures, and other indebtedness held by certain "applicable insurance companies" from the definition of capital assets, and (2) extend capital loss carryovers from five years to ten years for those applicable insurance companies and for foreign expropriation losses. The bill defines which insurers qualify, excludes certain small-election insurers and some foreign or special organizations, and applies to acquisitions and net capital losses arising after December 31, 2025.
Left views bill as an industry tax preference; right sees insurer solvency help.
Relative to its intended legislative type, this bill is a narrowly focused substantive amendment to the Internal Revenue Code that is precise in statutory drafting and effective-date specification but omits fiscal, transitional, anti-abuse, and oversight detail that would typically accompany tax-policy changes of this kind.
This bill amends the Internal Revenue Code to (1) exclude notes, bonds, debentures, and other indebtedness held by certain "applicable insurance companies" from the definition of capital assets, and (2) extend capital loss carryovers from five years to ten years for those applicable insurance companies and for foreign expropriation losses.
The bill defines which insurers qualify, excludes certain small-election insurers and some foreign or special organizations, and applies to acquisitions and net capital losses arising after December 31, 2025.
Narrow, technical industry tax relief makes passage feasible but not easy absent offsets or inclusion in larger tax/omnibus vehicle.
Relative to its intended legislative type, this bill is a narrowly focused substantive amendment to the Internal Revenue Code that is precise in statutory drafting and effective-date specification but omits fiscal, transitional, anti-abuse, and oversight detail that would typically accompany tax-policy changes of this kind.
Left views bill as an industry tax preference; right sees insurer solvency help.
These are examples from the analysis, not a ranked list of the most-affected groups.
Left views bill as an industry tax preference; right sees insurer solvency help.
Skeptical.
The bill appears to provide a targeted tax preference for insurers by altering debt treatment and lengthening loss carryovers.
While it may stabilize insurer finances, it looks like a corporate tax benefit without clear offsets or equity protections.
Cautiously open.
The bill addresses insurance-sector tax technicalities that could improve balance-sheet management, but it raises fiscal and fairness questions.
Support would depend on offsets, anti-abuse rules, and targeted tailoring.
Generally favorable.
The measure relieves tax mismatches for insurers, supporting solvency and stable insurance markets.
Concerns would focus on fiscal offsets but the bill advances pro-business tax reform for financial institutions.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Narrow, technical industry tax relief makes passage feasible but not easy absent offsets or inclusion in larger tax/omnibus vehicle.
The bill has not accumulated any surfaced votes yet.
Left views bill as an industry tax preference; right sees insurer solvency help.
Narrow, technical industry tax relief makes passage feasible but not easy absent offsets or inclusion in larger tax/omnibus vehicle.
Relative to its intended legislative type, this bill is a narrowly focused substantive amendment to the Internal Revenue Code that is precise in statutory drafting and effective-date specification but omits fiscal, tran…
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