# 119-s-2047: No Capital Gains Allowance for American Adversaries Act

119-s-2047, No Capital Gains Allowance for American Adversaries Act, is a 119th Congress bill sponsored by Sen. Ricketts, Pete [R-NE] (R-NE); status introduced; PRIA reads it as touching household money (as of 2025-12-21).

- Canonical: https://policyrisk.com/legislation/119-s-2047
- As of: 2025-12-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-2047
- Congress: 119
- Title: No Capital Gains Allowance for American Adversaries Act
- Status: introduced
- Introduced: 2025-06-12
- Sponsor: Sen. Ricketts, Pete [R-NE] (R-NE)
- Cosponsors: 0
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2025-12-21

## Summary

**Reclassifies gains from certain foreign assets as ordinary income.** This bill would treat sales, exchanges, and dividends tied to companies or property in China, Russia, Belarus, Iran, and North Korea as ordinary income instead of capital gains.

## Provisions PRIA read

- Higher taxes on certain foreign investments: cost, high. This bill would tax gains from selling certain foreign-linked property as ordinary income instead of capital gains. It would also treat dividends from covered foreign corporations as ordinary income and deny a step-up in basis at death for those assets. "Countries of concern" listed are China (incl…
- SEC list and seller notice rules: mixed, medium. If enacted, the SEC would publish a public list of securities that meet the bill's covered definition. The SEC and Treasury would issue implementing rules within 180 days after enactment. Persons selling covered securities would have to notify the counterparty that gains on those securities are tre…

## Related bills

- 119-s-4668: Protect College Sports Act of 2026
- 119-s-2828: Child Care Modernization Act of 2025
- 119-s-4952: Protecting American Taxpayers Act
- 119-s-4378: Protecting American Taxpayers Act
- 119-s-1748: Kids Online Safety Act
- 119-s-4065: STAND with Taiwan Act of 2026

## Sources
- [119-s-2047 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/2047)

## Related
- [119-s-4668: Protect College Sports Act of 2026](https://policyrisk.com/legislation/119-s-4668)
- [119-s-2828: Child Care Modernization Act of 2025](https://policyrisk.com/legislation/119-s-2828)
- [119-s-4952: Protecting American Taxpayers Act](https://policyrisk.com/legislation/119-s-4952)
- [119-s-4378: Protecting American Taxpayers Act](https://policyrisk.com/legislation/119-s-4378)
- [119-s-1748: Kids Online Safety Act](https://policyrisk.com/legislation/119-s-1748)
- [119-s-4065: STAND with Taiwan Act of 2026](https://policyrisk.com/legislation/119-s-4065)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-2047 (as of 2025-12-21).