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117TH CONGRESS
1ST SESSION H. R. 3265
To amend the Internal Revenue Code of 1986 to apply current income
tax bracket breakpoints to capital gains brackets.
IN THE HOUSE OF REPRESENTATIVES
MAY 17, 2021
Mr. BARR (for himself, Mr. LAMALFA, Mr. ALLEN, Mr. NORMAN, Mr. RUTH-
ERFORD, Mr. CLINE, and Mr. MEUSER) introduced the following bill;
which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to apply
current income tax bracket breakpoints to capital gains
brackets.
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled,
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SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘Middle Class Savings
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Act’’.
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SEC. 2. APPLICATION OF CURRENT INCOME TAX BRACKET
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BREAKPOINTS TO CAPITAL GAINS BRACKETS.
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(a) IN GENERAL.—Section 1(j)(5)(B) of the Internal
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Revenue Code of 1986 is amended—
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•HR 3265 IH
(1) by striking ‘‘$77,200’’ in clause (i)(I) and
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inserting ‘‘$77,400’’,
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(2) by striking ‘‘$51,700’’ in clause (i)(II) and
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inserting ‘‘$51,800’’,
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(3) by striking ‘‘$479,000’’ in clause (ii)(I) and
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inserting ‘‘$600,000’’,
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(4) by striking ‘‘$452,400’’ in clause (ii)(II)
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and inserting ‘‘$500,000’’, and
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(5) by striking ‘‘$425,800’’ in clause (ii)(III)
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and inserting ‘‘$500,000’’.
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(b) EFFECTIVE DATE.—The amendments made by
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this Act shall apply with respect to taxable years begin-
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ning after the date of enactment of this Act.
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