Referred to the Committee on Energy and Commerce, and in addition to the Committees on Financial Services, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
The GET THE LEAD OUT Act of 2026 is a comprehensive bill addressing lead pipe hazards in housing while also making significant changes to federal tax law. On the housing side, the bill establishes a grant program through the Department of Housing and Urban Development to help states and local governments identify and remove lead pipes from privately owned homes, while requiring jurisdictions to assess and report lead hazards in their communities and mandating that property sellers and renters disclose lead-based pipe hazards to buyers with a 10-day inspection period and penalties up to $10,000 for violations. The bill also allows states to develop their own lead-pipe safety programs as an alternative to federal enforcement. On the tax side, the legislation makes substantial changes to how investment managers and partners in investment firms are taxed, reclassifying capital gains from investment services partnership interests as ordinary income at higher tax rates, modifying self-employment tax rules for these interests, and eliminating prior favorable tax treatment for carried interests while also reducing estate and gift tax exemptions. These provisions apply to partnership interests received after enactment and tax years ending after the bill becomes law.
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