Tell Congress: Pass the GROWTH Act
Nearly 40 million mutual fund investors are facing unfair taxes on earnings they never actually take out of the account and from shares they never sold.
Under the current law, investors are taxed annually on mutual funds they invest in on dividends and capital gains that they don’t receive. By doing the right thing and reinvesting earnings inside the fund to help investors reach their long-term financial goals, they are unfairly penalized.
This phantom tax is a reality for American families trying to secure their financial future. But a solution is on the horizon thanks to the bipartisan Generating Retirement Ownership Through Long-Term Holdings (GROWTH) Act, sponsored by Sen. John Cornyn (R-TX) in the Senate and Reps. Beth Van Duyne (R-TX) and Terri Sewell (D-AL) in the House.
The GROWTH Act will simplify the tax code, allow investors to benefit from compound returns, incentivize more investment to grow the US economy, and create more tax revenues in the long run when investors pay taxes upon exiting the mutual fund.
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Tell Congress: Pass the GROWTH Act
Nearly 40 million mutual fund investors are facing unfair taxes on earnings they never actually take out of the account and from shares they never sold.
Under the current law, investors are taxed annually on mutual funds they invest in on dividends and capital gains that they don’t receive. By doing the right thing and reinvesting earnings inside the fund to help investors reach their long-term financial goals, they are unfairly penalized.
This phantom tax is a reality for American families trying to secure their financial future. But a solution is on the horizon thanks to the bipartisan Generating Retirement Ownership Through Long-Term Holdings (GROWTH) Act, sponsored by Sen. John Cornyn (R-TX) in the Senate and Reps. Beth Van Duyne (R-TX) and Terri Sewell (D-AL) in the House.
The GROWTH Act will simplify the tax code, allow investors to benefit from compound returns, incentivize more investment to grow the US economy, and create more tax revenues in the long run when investors pay taxes upon exiting the mutual fund.
