S.2033 - Closing the Derivatives Blended Rate Loophole Act

A bill to amend the Internal Revenue Code of 1986 to end the costly derivatives blended rate loophole, and for other purposes. view all titles (2)

All Bill Titles

  • Official: A bill to amend the Internal Revenue Code of 1986 to end the costly derivatives blended rate loophole, and for other purposes. as introduced.
  • Short: Closing the Derivatives Blended Rate Loophole Act as introduced.

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Introduced
 
Senate
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House
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President
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01/23/12
 
 
 
 
 
 
 

Official Summary

Closing the Derivatives Blended Rate Loophole Act - Amends the Internal Revenue Code to treat all gain or loss with respect to a section 1256 contract (i.e., any regulated futures contract, foreign currency contract, nonequity option, dealer equity option, and dealer securities future contr

Official Summary

Closing the Derivatives Blended Rate Loophole Act - Amends the Internal Revenue Code to treat all gain or loss with respect to a section 1256 contract (i.e., any regulated futures contract, foreign currency contract, nonequity option, dealer equity option, and dealer securities future contract) as short-term capital gain or loss (currently, 60% of such gain or loss is treated as long-term capital gain or loss and is thus taxed at lower marginal rates).

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Organizations Supporting S.2033

  • American Bar Association’s Tax Section

Organizations Opposing S.2033

  • None via MapLight at this time.




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