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  <bill>
    <number>2094</number>
    <updateDate>2025-07-07T19:14:35Z</updateDate>
    <updateDateIncludingText>2025-07-07T19:14:35Z</updateDateIncludingText>
    <originChamber>Senate</originChamber>
    <originChamberCode>S</originChamberCode>
    <type>S</type>
    <introducedDate>2025-06-17</introducedDate>
    <congress>119</congress>
    <committees>
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        <systemCode>ssfi00</systemCode>
        <name>Finance Committee</name>
        <chamber>Senate</chamber>
        <type>Standing</type>
        <activities>
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            <name>Referred To</name>
            <date>2025-06-17T19:52:01Z</date>
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            <name>Finance Committee</name>
          </item>
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        <sourceSystem>
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        </sourceSystem>
        <text>Read twice and referred to the Committee on Finance.</text>
        <type>IntroReferral</type>
      </item>
      <item>
        <actionDate>2025-06-17</actionDate>
        <text>Introduced in Senate</text>
        <type>IntroReferral</type>
        <actionCode>10000</actionCode>
        <sourceSystem>
          <code>9</code>
          <name>Library of Congress</name>
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    <sponsors>
      <item>
        <bioguideId>W000779</bioguideId>
        <fullName>Sen. Wyden, Ron [D-OR]</fullName>
        <firstName>Ron</firstName>
        <lastName>Wyden</lastName>
        <party>D</party>
        <state>OR</state>
        <isByRequest>N</isByRequest>
      </item>
    </sponsors>
    <policyArea>
      <name>Taxation</name>
    </policyArea>
    <subjects>
      <legislativeSubjects/>
      <policyArea>
        <name>Taxation</name>
        <updateDate>2025-07-07T19:14:35Z</updateDate>
      </policyArea>
    </subjects>
    <title>Basis Shifting is a Rip-off Act</title>
    <titles>
      <item>
        <titleType>Display Title</titleType>
        <titleTypeCode>45</titleTypeCode>
        <title>Basis Shifting is a Rip-off Act</title>
        <updateDate>2025-07-02T01:23:20Z</updateDate>
      </item>
      <item>
        <titleType>Short Title(s) as Introduced</titleType>
        <titleTypeCode>101</titleTypeCode>
        <title>Basis Shifting is a Rip-off Act</title>
        <updateDate>2025-07-02T01:23:19Z</updateDate>
        <billTextVersionName>Introduced in Senate</billTextVersionName>
        <billTextVersionCode>IS</billTextVersionCode>
      </item>
      <item>
        <titleType>Official Title as Introduced</titleType>
        <titleTypeCode>6</titleTypeCode>
        <title>A bill to amend the Internal Revenue Code of 1986 to modify the partnership rules for taxation of basis-shifting transactions involving related parties, and for other purposes.</title>
        <updateDate>2025-07-02T01:18:58Z</updateDate>
        <billTextVersionName>Introduced in Senate</billTextVersionName>
        <billTextVersionCode>IS</billTextVersionCode>
      </item>
    </titles>
    <textVersions>
      <item>
        <type>Introduced in Senate</type>
        <date>2025-06-17T04:00:00Z</date>
        <formats>
          <item>
            <url>https://www.govinfo.gov/content/pkg/BILLS-119s2094is/xml/BILLS-119s2094is.xml</url>
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        </formats>
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    <latestAction>
      <actionDate>2025-06-17</actionDate>
      <text>Read twice and referred to the Committee on Finance.</text>
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    <dc:language>EN</dc:language>
    <dc:rights>Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.</dc:rights>
    <dc:contributor>Congressional Research Service, Library of Congress</dc:contributor>
    <dc:description>This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.</dc:description>
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