S1335119th CongressWALLET

Secure Family Futures Act of 2025

Sponsored By: Senator Sen. Tillis, Thomas [R-NC]

Introduced

Summary

This bill would make debt instruments held by most insurance companies non-capital assets for federal tax purposes. It also would extend the carryforward period for net capital losses incurred by those "applicable insurance companies" to 10 taxable years, and it makes these changes apply to debt acquired and losses arising after December 31, 2025, while defining which insurers qualify and naming specific exceptions and inclusions.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Tax rules for certain insurance companies

This bill would change how some insurance companies are taxed. It would say that bonds, notes, and similar debt bought after December 31, 2025 by qualifying insurers would not be treated as capital assets. The bill would define which insurers qualify and would exclude insurers with certain small‑insurer tax elections, some foreign insurers, and organizations covered by section 833, but would include certain face‑amount certificate companies. It would also let qualifying net capital losses (including certain foreign expropriation losses or losses incurred by those insurers) be carried over and used for up to ten taxable years. The carryover change would apply to net capital losses arising in tax years beginning after December 31, 2025.

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Sponsors & CoSponsors

Sponsor

Sen. Tillis, Thomas [R-NC]

NC • R

Cosponsors

  • Raphael Warnock

    GA • D

    Sponsored 4/8/2025

  • Sen. Blackburn, Marsha [R-TN]

    TN • R

    Sponsored 5/8/2025

  • Sen. Warner, Mark R. [D-VA]

    VA • D

    Sponsored 5/8/2025

  • Sen. Grassley, Chuck [R-IA]

    IA • R

    Sponsored 10/9/2025

  • Sen. McCormick, David [R-PA]

    PA • R

    Sponsored 12/9/2025

  • Sen. Banks, Jim [R-IN]

    IN • R

    Sponsored 12/9/2025

  • Sen. Young, Todd [R-IN]

    IN • R

    Sponsored 1/6/2026

  • Sen. Ernst, Joni [R-IA]

    IA • R

    Sponsored 2/4/2026

Roll Call Votes

No roll call votes available for this bill.

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