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H.R. 7123: Middle Class Investor Relief Act

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H.R. 7123: Middle Class Investor Relief Act

110th Congress · introduced 2008-09-26 · Taxation · Latest: Sponsor introductory remarks on measure. (CR E2096)

federal

Follow this bill, step by step

  1. Where it came from: introduced 2008-09-26 · official record
  2. Who proposed it: Rep. Kirk, Mark Steven [R-IL-10] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Sponsor introductory remarks on measure. (CR E2096) Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Middle Class Investor Relief Act

Plain summary

Middle Class Investor Relief Act - Amends the Internal Revenue Code to increase to $20,000 the limitation on the amount of losses from the sale or exchange of capital assets that an individual taxpayer may deduct in a taxable year.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Middle Class Investor Relief Act

Source: Congressional Research Service summary (Introduced in House)

AI explanation – may be wrong, check the official text

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The strongest published arguments

Arguments for (supporters)

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Arguments against (opponents)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Kirk, Mark Steven [R-IL-10] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Virginia Foxx (R-NC)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Sources

Record fed-us-cong110-hr7123 · catalog fed-us-congress-bills-cong110 · updated 2026-11-15 by psicol fed-bills-cong110