Will legislation that reduces the federal taxes individuals owe on long-term capital gains by changing how those gains are taxed or calculated become law before Jan 1, 2027?

If legislation that reduces the federal taxes individuals owe on long-term capital gains by changing how those gains are taxed or calculated has become law after Issuance and before Jan 1, 2027, then the market resolves to Yes. A qualifying change does not need to apply to all taxpayers or all long-term capital gains. Legislation qualifies if it directly reduces or eliminates federal tax owed on long-term capital gains for individuals generally or for a defined class of taxpayers or gains, whether through a rate reduction, exemption or exclusion, a change in applicable thresholds, a change in how basis or gains are calculated, or another statutory mechanism. Changes that only defer when tax is paid, or that reduce a taxpayer’s overall federal tax liability without specifically changing the taxation or calculation of long-term capital gains, do not qualify. A qualifying change may be temporary and need not take effect before the specified deadline, provided the legislation becomes law within the specified time period.