HOUSE 6498118th CongressReferred to the House Committee on Ways and Means.

Billionaire Minimum Income Tax Act

Last Action: 11/29/2023

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2023-11-29Referred to the House Committee on Ways and Means.
2023-11-29Introduced in House
2023-11-29Introduced in House

CRS Summary

As of 2023-11-29 (00)

Billionaire Minimum Income Tax Act

This bill imposes a minimum tax on individual taxpayers whose net worth for the taxable year exceeds $100 million. The tax is equal to 25% of the sum of a taxpayer's taxable income, plus net unrealized gains for the taxable year. The tax may not exceed 40% of the amount by which the taxpayer's net worth exceeds $100 million.

Cosponsors (20)

JANICE SCHAKOWSKY (D-IL)
Rashida Tlaib (D-MI)
Jesus Garcia (D-IL)
Robin Kelly (D-IL)
JAMES MCGOVERN (D-MA)
ELEANOR NORTON (D-DC)
DANNY DAVIS (D-IL)
Bonnie Watson Coleman (D-NJ)
ROSA DELAURO (D-CT)
Cori Bush (D-MO)
Jill Tokuda (D-HI)
Nanette Barragan (D-CA)
Brendan Boyle (D-PA)
BETTY MCCOLLUM (D-MN)
Jamie Raskin (D-MD)
Jimmy Gomez (D-CA)
Alexandria Ocasio-Cortez (D-NY)
JERROLD NADLER (D-NY)
Katie Porter (D-CA)
Judy Chu (D-CA)

Read on Congress.gov

Sourced from Congress.gov (public domain).

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