,i  #aaith ,,congress  #b;d ,session    
,h4 ,r4 #ajfij  ,,in ,,the ,,house ,,of 
,,representatives  ,october #a1         
#bjbf,mr4 ,norman 7for himself1 ,mrs4   
,biggs of ,south ,carolina1 ,mr4 ,harris
 of ,maryland1 ,mr4 ,cloud1 and ,mr4    
,massie7 introduced the following bill2 
which was referred to the ,committee on 
,ways and ,means  ,a ,,bill  ,to amend  
the ,internal ,revenue ,code of #aihf to
 increase the limitation on capital     
losses and index the limitation to      
inflation4  #a4 ,short title ,this ,act 
may be cited as the ,capital ,loss      
,inflation ,fairness ,act4  #b4         
,increased limitation on capital losses 
7a7 ,in general ,section #abaa7;b7 of   
the ,internal ,revenue ,code of #aihf is
 amended to read as follows3  7b7 ,other
 taxpayers  7#a7 ,in general ,in the    
case of a taxpayer other than a         
corporation1 losses from sales or       
exchanges of capital assets shall be    
allowed only to the extent of the gains 
from such sales or exchanges1 plus 7if  

such losses exceed such gains7 the lower
 of-- 7,a7 #ad1bej 7#g1abe in the case  
of a married individual filing a        
separate return71 or  7,b7 the excess of
 such losses over such gains4  7#b7     
,inflation adjustment ,in the case of   
any taxable year beginning in a calendar
 year after #bjbf1 the dollar amounts in
 paragraph 7#a77;,a7 shall be increased 
by an amount equal to--  7,a7 such      
dollar amount1 multiplied by  7,b7 the  
cost-of-living adjustment under section 
#a7;f77#c7 for the calendar year in     
which the taxable year begins1          
determined by substituting calendar year
 #bjbe for calendar year #bjaf in       
subparagraph 7,a77ii7 thereof4  ,if any 
increase determined under the preceding 
sentence is not a multiple of #be1 such 
increase shall be rounded to the nearest
 multiple of #be4  4  7b7 ,effective    
date ,the amendment made by this section
 shall apply to losses in taxable years 
beginning after ,december #ca1 #bjbe4