No Capital Gains Allowance for American Adversaries Act

# No Capital Gains Allowance for American Adversaries Act (S 2047) **What the Bill Would Do:** This bill would prevent certain foreign entities designated as "American adversaries" from benefiting from U.S. capital gains tax breaks or allowances. In practical terms, it aims to close potential tax advantages that foreign nationals or entities from hostile countries might exploit when investing in or profiting from U.S. assets and businesses. **Who It Affects:** The bill primarily targets individuals and organizations from countries deemed adversarial to the United States.

It would indirectly affect U.S. businesses and investors by restricting certain foreign investment strategies and potentially changing how cross-border investments are taxed. **Current Status:** S 2047 was introduced by Senator Pete Ricketts (R-Nebraska) in the 119th Congress and is currently in committee, meaning it has not yet advanced to a full floor vote. The bill has not been signed into law. *Note: Limited details are publicly available about specific provisions in this bill. For complete information about what constitutes an "American adversary" under this legislation or other technical details, you would need to review the full bill text.*.