Washington, D.C., March 13, 2025 – SIFMA and SIFMA’s Asset Management Group (SIFMA AMG) today issued the following statement from Lindsey Keljo, head of SIFMA AMG, on the introduction of the GROWTH Act:

 “We appreciate the introduction of the GROWTH Act by Representatives Beth Van Duyne (R-TX) and Terri Sewell (D-AL), which would remove the annual tax on mutual funds held in taxable accounts for reinvested long-term gains, resulting in tax parity between exchange traded funds (ETFs) and mutual funds.  Mutual funds are a crucial tool used by millions of Americans working to save for the future. The commonsense policy changes proposed today would establish fair tax treatment of these products and allow savers who choose to invest in mutual funds to keep more of their funds invested for the long-term.”

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SIFMA is the leading trade association for broker-dealers, investment banks and asset managers operating in the U.S. and global capital markets. On behalf of our industry’s one million employees, we advocate on legislation, regulation and business policy affecting retail and institutional investors, equity and fixed income markets and related products and services. We serve as an industry coordinating body to promote fair and orderly markets, informed regulatory compliance, and efficient market operations and resiliency. We also provide a forum for industry policy and professional development.  SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA).