Lets many non-corporate taxpayers adjust (increase) the tax basis of certain assets for inflation, so they pay tax only on real gains when they sell. Covered assets include certain stocks, digital assets, and tangible property. The inflation factor uses the GDP price index.

Includes guardrails for investment funds, partnerships, short sales, and related‑party transfers, plus recordkeeping rules and a $1,000 de minimis threshold for small basis increases. Applies to assets acquired on or after January 1, 2026, and directs the Treasury to issue rules and guidance.