S. 4122 · Where this bill is now
In committee
Introduced in the Senate, Mar 17, 2026
119th Congress
2nd SessionS. 4122
2nd SessionS. 4122
A BILL
Equal Tax Act
In the SenateNo vote yet
Sponsor: Sen. Edward J. Markey (D-MA) · Introduced Mar 17, 2026 · Taxation · 1 version of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Mar 17, 2026: “Read twice and referred to the Committee on Finance.”
Sections
Sections · 8
- Sec. 1Short titleNo change
- Sec. 2Preferential rates for dividends and capital gains limited to incomes of $1,000,000 or lessNo change
- Sec. 3Deemed realization of capital gains at time of gift or deathNo change
- Sec. 4Exclusion of certain amounts of realized capital gainNo change
- Sec. 5Information reporting of certain giftsNo change
- Sec. 6Extension of time for payment of taxNo change
- Sec. 7Limitation on use of like-kind exchanges to avoid tax on real estate gainsNo change
- Sec. 8Limitation on deduction for qualified business incomeNo change