S. 2033: Closing the Derivatives Blended Rate Loophole Act

112th Congress · introduced 2012-01-23 · Taxation · Latest: Read twice and referred to the Committee on Finance.

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Follow this bill, step by step

Where it came from: introduced 2012-01-23 · official record
Who proposed it: Sen. Levin, Carl [D-MI] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Finance. Not final yet: this can still change. We check for updates every day.
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

Closing the Derivatives Blended Rate Loophole Act

Plain 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).

Congressional Research Service summary (Introduced in Senate), 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

Closing the Derivatives Blended Rate Loophole Act

Source: Congressional Research Service summary (Introduced in Senate)

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

Officials and money

Sponsor: Sen. Levin, Carl [D-MI] · 0 cosponsors

Cost estimate: No cost estimate published yet.

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.

Words on this page, explained (2)

Capital gains: The profit from selling something you own, such as stock or real estate, for more than you paid. A capital gains tax is a tax on that profit.
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-112s2033.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/112/s>

Record fed-us-cong112-s2033 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112