Biden administration capital gains and 1031 exchange

[Chuck H.]

I'm not sure if this has been discussed, or discussed lately, but Biden announced his proposal to almost double the capital gains tax rate for high earning individuals to 39.6%, and up to 43.4% for some.

He has floated eliminating the 1031 exchange in the past, but I don't see that discussed in this latest proposal.

I have a property with over $200k in capital gains in it. Do these bills usually have a period of time before they are enacted to give investors time to do an exchange?