No Capital Gains Allowance for American Adversaries Act

Cost and committee reports

Official records Congress.gov attaches to H.R. 7760.

• Constitutional authority statementThe sponsor’s statement of where the Constitution gives Congress the power to pass this bill. Statement by Mr. SHERMAN, as printed in the Congressional Record (Vol. 170, No. 49, March 20, 2024, Page H1296):
  Article I, Section 8, clause 1 provides Congress with the power to ``lay and collect Taxes, Duties, Imposts and Excises.'' The Sixteenth Amendment provides Congress the power to ``lay and collect taxes on incomes.'' Article I, Section 8, clause 3 provides Congress with the power to ``regulate commerce with foreign nations, and among the several states, and with the Indian tribes.'' The single subject of this legislation is: Taxation of foreign capital gains income
  Source: Congress.gov, Congressional Record March 20, 2024 ↗

  Evidence

  Field in the Congress.gov record

  constitutionalAuthorityStatementText

  Statement length

  468 characters

  Congress.gov bill record

  H.R. 7760, 118th Congress

  Congress.gov API record

  https://api.congress.gov/v3/bill/118/hr/7760

  Record last updated by Congress.gov

  October 21, 2024

  PORKER copy retrieved

  September 14, 2026

  Stored copy, SHA-256 of the file

  5779cafb937272d81cb95a5f75a455ee4f7d295da7b86e4e988e8f49b73f37d0

  PORKER shows the statement exactly as printed, with the page markup removed. It is the sponsor’s claim; it is not a legal finding.

Congress.gov’s record for this bill does not list a CBO cost estimate or a committee report (as of October 21, 2024). Not every bill gets one.

From the Congress.gov bill record for H.R. 7760, last updated October 21, 2024. PORKER’s copy was retrieved September 14, 2026 and is refreshed nightly. Open “Evidence” on any line for the record, field and file fingerprint.