The Secure Family Futures Act of 2025 makes two tax changes for insurance companies. First, it excludes debt securities—such as bonds and notes—held by most insurance companies from being treated as capital assets for tax purposes, which could affect how gains or losses on these investments are taxed. Second, it extends the period that insurance companies can use capital losses to offset other income from five years to ten years, but only for losses incurred after December 31, 2025. These changes apply to most insurance companies, with some exceptions for specialized insurers like mutual insurance companies and foreign insurers. The bill was introduced by Senators Tillis and Warnock in April 2025 and was referred to the Senate Finance Committee.
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