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Nearly 50 Years Later, It's Time to Update the Capital Loss Deduction

| Posted in Blog

The tax code shouldn’t be stuck in 1978. Nearly 50 years ago, Congress set the amount of capital losses an individual could deduct against ordinary income at $3,000 per year. Think about how much has changed since then. The cost of a home, a car, groceries, and just about everything else has gone up SIGNIFICANTLY. But that $3,000 limit? It hasn’t moved a penny. Let’s say you invest…

Rep. Ralph Norman Reintroduces Capital Loss Inflation Fairness Act to Modernize Nearly 50-Year-Old Tax Rule

| Posted in Press Releases
Tags: Inflation

WASHINGTON — Congressman Ralph Norman (R-SC) reintroduced the Capital Loss Inflation Fairness Act to address a nearly five-decade-old provision of the federal tax code and allow Americans to deduct more of their investment losses from their ordinary income. The current limit of $3,000, or $1,500 for married taxpayers filing separately, has remained unchanged since 1978. Norman’s…

Rep. Ralph Norman Welcomes $167 Million for Rural Health Funding for South Carolina

| Posted in Press Releases

WASHINGTON — Congressman Ralph Norman (R-SC) issued the following statement following the announcement that 228 grants totaling more than $167 million will be awarded to strengthen healthcare in rural communities across South Carolina. The funding is being awarded through the Rural Health Transformation Program, authorized by the One Big Beautiful Bill Act (Section 71401 of Public Law…

Supporting Rep. Massie's Epstein Files Transparency Act II

| Posted in Blog

Congress passed the Epstein Files Transparency Act last year. Now it’s time to make sure the law is FOLLOWED. I’m supporting Congressman Thomas Massie's Epstein Files Transparency Act II to enforce compliance and hold the DOJ accountable to the law. After more than 20 years, the American people deserve the truth.  Read the bill here -…

$5000-Check Proposal Ignores National Debt Crisis

| Posted in Blog

I have serious concerns with this $5,000-check proposal. We are already more than $40 trillion in debt, and I cannot support another massive spending package without a clear way to pay for it. Tying government checks to the outcome of an election starts to sound like pay-to-play politics. Republicans should earn the support of the American people through good policy, not by promising…

Democrats Demand a 13-Justice Supreme Court

| Posted in Blog

This week, Democrats admitted what they want: a 13-justice Supreme Court. Changing the Court because you don’t like its rulings is a dangerous political power grab. SCOTUS is not a political tool. Keep the Court at NINE!! 

Make Merit the Law!

| Posted in Blog

Here's a simple idea for you... The federal government should NEVER use your tax dollars to reward political ideology over merit. Fortunately, the Trump administration has been steadfast in working to eliminate DEI and radical ideological requirements from federal grants. But we shouldn't leave this up to the whims of future administrations and MUST make commonsense reform permanent. My…

New GOP Bill Would Cut Off Housing Funds to Sanctuary Cities Defying Trump DHS

| Posted in Blog

With Congress continuing to advance the President's border security agenda, now is the time to finish the job by PERMANENTLY ending federal funding for SANCTUARY CITIES. I’ve heard from many constituents who are scared of the illegal aliens with criminal histories who have settled in our communities, all thanks to Biden’s open-border policies. That’s why I introduced legislation to block…

Election Infrastructure Transparency MUST Be Public

| Posted in Blog

Folks, I’ve got to be straight with y’all. President Trump told the nation the hard truth on July 16: “Tonight, I’m announcing the immediate declassification and release of critical intelligence, revealing shocking vulnerabilities in our election infrastructure.” He went further, saying Americans “were blatantly lied to about the security of our election infrastructure, including…