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This creates a safety gap in tool composition: an agent can satisfy every per-tool permission check and still produce an unsafe end-to-end effect, such as reading a confidential document, summarizing it, and sending the summary to an external endpoint. We call this failure mode permission laundering. ChainCaps addresses it with a runtime rule: every value carries a sink-specific capability budget, and tool composition propagates budgets by intersection. A value can preserve or lose authority as it moves through a tool chain, but it cannot gain new authority through composition. We implement ChainCaps as a transparent MCP proxy that requires no changes to the agent or tool servers. 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A value can preserve or lose authority as it moves through a tool chain, but it cannot gain new authority through composition. We implement ChainCaps as a transparent MCP proxy that requires no changes to the agent or tool servers. 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