This bill would cap the federal tax rate on adjusted net capital gains at no more than 15 percent. It changes the tax code to apply this maximum rate going forward, rather than allowing a higher rate on these gains.

Key points:

• Who is affected: People and businesses with adjusted net capital gains on their tax returns.
• What changes: The tax on adjusted net capital gains could not exceed 15 percent.
• When: Applies to taxable years beginning after the bill becomes law.