Bill S.4393 titled “A bill to amend the Internal Revenue Code of 1986 to modify the maximum capital gains tax rate, to modify the tax on net investment income, and for other purposes” was read twice and referred to the Committee on Finance by the Senate. The bill is sponsored by Sen. Chuck Grassley with John Barrasso, Bill Cassidy, Steve Daines, James Lankford, Todd Young as cosponsors.
Bill S.4400 titled “A bill to amend the Internal Revenue Code of 1986 to allow for special rollovers to Roth IRAs from long-term qualified tuition programs” was read twice and referred to the Committee on Finance by the Senate. The bill is sponsored by Sen. Richard Burr with Bob Casey as cosponsor.
The Finance Committee moves forward in some way on one bill per day.
Most bills have a hearing where those involved explain why they are for or against the bill. Roughly 8,000 bills are addressed by committees each year but only about 800 make it to the floor of Congress, according to ushistory.org.
A 2019 report from the Brookings Institute argued committees aren’t capable of delving fully into the issues they address and are forced to rely on lobbyists.
| Bill Name | Sponsor | Action |
|---|---|---|
| A bill to amend the Internal Revenue Code of 1986 to modify the maximum capital gains tax rate, to modify the tax on net investment income, and for other purposes. | Sen. Grassley, Chuck | Senate |
| A bill to amend the Internal Revenue Code of 1986 to allow for special rollovers to Roth IRAs from long-term qualified tuition programs. | Sen. Burr, Richard | Senate |
