Secure Family Futures Act of 2025

This bill changes how certain insurance companies are taxed on their investments. Bonds, notes, and other debt they hold would no longer be treated as “capital assets,” which changes how gains and losses from those investments count on their taxes. It also lets these companies use certain investment losses to reduce taxes for up to 10 years, instead of 5 years.

Key points

• Who is affected: Certain insurance companies defined in the bill. Some insurers are excluded, such as those using specific tax elections, some foreign insurers, certain organizations described in the tax code, and face-amount certificate companies.
• What changes: Debt like bonds and notes owned by these companies would not be treated as capital assets for tax purposes, and they could carry forward certain capital losses for 10 years.
• When: The debt rule would apply to debt the companies acquire after December 31, 2025, and the 10-year loss rule would apply to losses in tax years beginning after December 31, 2025.