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Economic growth

RISE Act Introduced to Boost Investment, Stimulate Economic Growth

Strategic Insights

— 1 min read

The Revitalizing Investment, Savings, and Entrepreneurship (RISE) Act, introduced by Rep. French Hill (AR-02) and co-lead by Rep. Steube (R-FL), aims to unleash capital, boost investment, and drive economic growth by limiting the capital gains tax rate to 15%. The bill is endorsed by the National Taxpayers Union, National Venture Capital Association, and Americans for Tax Reform. By restoring the proven, bipartisan capital gains tax rate, the RISE Act encourages long-term investment in Main Street businesses and drives innovation across the country.

Key Takeaways:

  • The RISE Act limits the capital gains tax rate to 15% for all Americans, the top rate previously in effect from 2003 to 2012.
  • The current federal capital gains tax rate is nearly 24%, including the 3.8% Medicare surtax.
  • The RISE Act aims to reduce overall investment in the economy by reducing high capital gains tax rates.
  • Businesses will receive more funding to grow, increasing productivity and innovation, boosting wages, and keeping prices low for consumers.
  • The RISE Act is endorsed by the National Taxpayers Union, National Venture Capital Association, and Americans for Tax Reform.
  • The bill builds on bipartisan precedent, with previous presidents (Obama, Bush, and Clinton) preserving or reducing capital gains taxes.
  • The RISE Act will create an environment that unlocks more capital for U.S. industries, empowering investors to fuel economic growth and create good-paying American jobs.

Statistics:

  • The RISE Act limits the capital gains tax rate to 15% for all Americans.
  • The current federal capital gains tax rate is nearly 24%, including the 3.8% Medicare surtax.
  • The total rates, combined with state taxes as high as 14%, significantly discourage business investment needed for economic growth.
  • The RISE Act will increase investment and productivity, boosting wages and living standards.
  • The National Taxpayers Union, National Venture Capital Association, and Americans for Tax Reform endorse the RISE Act.

Sources:

  • Rep. French Hill (AR-02)
  • Rep. Steube (R-FL)
  • United States House of Representatives
  • National Taxpayers Union
  • National Venture Capital Association
  • Americans for Tax Reform

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