119th (2025–2027)
H.R. 2547
The Secure Family Futures Act of 2025 modifies tax rules for insurance companies by making two key changes to the Internal Revenue Code. First, it excludes debt instruments—such as bonds and notes—held by certain insurance companies from being treated as capital assets for tax purposes, which affects how gains and losses on these investments are taxed. Second, it extends the period that these same insurance companies can carry forward capital losses from five years to ten years, allowing them more time to offset future capital gains. The bill applies to most standard insurance companies but excludes certain specialized types, such as those electing small insurance company status or foreign insurance companies. Both changes take effect for debt acquired and losses incurred after December 31, 2025, and the legislation is intended to provide greater financial flexibility for insurance company investment strategies and tax planning.