American Investors to Congress: Advance GROWTH Act

Bipartisan legislation would restore tax fairness for American long-term investors

Washington, DC; June 11, 2026—On behalf of American long-term investors, the Investment Company Institute (ICI) led a coalition of prominent financial services trade groups and advocacy organizations reiterating the need to pass the Generating Retirement Ownership through Long-Term Holding (GROWTH) Act of 2025, which has secured strong bipartisan support with more than 100 cosponsors in the House of Representatives.  

In a letter to congressional leadership, the coalition noted: 

“The GROWTH Act would expand investments for millions of middle-class families who hold mutual fund assets in non-retirement accounts. The bill would not exempt capital gains in those funds from taxation but defer the tax until investors sell their shares, rather than at the time the gains are distributed within the fund. Middle class investors would reap the benefit of compounding higher investment returns, and the federal government would receive more tax revenue. This simple change would encourage more long-term investment and ease the burden on investors when filing their annual taxes.” 

Investors could see up to $1,340 more in returns over a ten-year period on a $10,000 equity mutual fund investment under this framework. 

“The GROWTH Act is a commonsense update to the tax code that would help 40 million Americans better save for their retirement or other financial milestones. Middle-class Americans are working harder than ever, and they deserve the opportunity to maximize their long-term investments,” said Tom Quaadman, ICI Chief Government Affairs and Public Policy Officer.  

Joining ICI in this effort were the American Council for Capital Formation, American Securities Association, Americans for Tax Reform, Financial Services Institute, Investment Advisor Association, SIFMA, SIFMA-AMG, and the U.S. Chamber of Commerce. 

Read the letter here.