Labor has introduced a significant bill in parliament aimed at reforming capital gains tax (CGT) and negative gearing, which includes tax cuts for wage earners. The Greens have signaled their readiness to expedite the legislative process, indicating they will not support a Coalition push for a prolonged inquiry. The bill proposes an inflation-based CGT discount and curbs on negative gearing, while contentious elements affecting start-ups have been deferred for future legislation. Treasurer Jim Chalmers emphasized that these reforms aim to rectify over two decades of a tax system that has fueled property price growth. The Greens, while critical of some aspects of the bill, are prepared to work constructively to ensure timely passage before the parliamentary winter break. They intend to use a short inquiry concluding on June 22 to scrutinize the bill, particularly regarding existing tax benefits for the wealthy. The government is also considering expanding small business concessions in response to concerns raised by start-up founders about the new tax regime's implications for their businesses.