Trump’s major 2025 tax legislation, the One Big Beautiful Bill Act, permanently extended key TCJA individual rate provisions and related deductions but left long-term capital gains rates unchanged at their existing 0/15/20 percent structure. Subsequent discussions have centered on narrower ideas such as inflation indexing of basis or expanded exclusions for primary residences, yet none have advanced into enacted law or firm legislative vehicles with timelines reaching 2027. Congressional attention has instead prioritized spending restraint, tariff implementation, and other fiscal measures amid rising debt projections, reducing near-term momentum for a standalone rate cut. With roughly six months remaining before the 2027 threshold and no scheduled floor action or reconciliation vehicle explicitly targeting long-term capital gains reductions, trader pricing reflects the absence of concrete progress and the limited remaining legislative calendar.