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United States · Bill · HR

H.R. 6498 (118th)

Billionaire Minimum Income Tax Act

referredUnited States· United States Congress· EN

Introduced

29 November 2023

Last action

29 November 2023 · Introduced

Status

Referred to the House Committee on Ways and Means.

Sponsors

Rep. Cohen, Steve [D-TN-9], Rep. Schakowsky, Janice D. [D-IL-9], Rep. Tlaib, Rashida [D-MI-12], Rep. García, Jesús G. "Chuy" [D-IL-4], Rep. Kelly, Robin L. [D-IL-2], Rep. McGovern, James P. [D-MA-2], Del. Norton, Eleanor Holmes [D-DC-At Large], Rep. Davis, Danny K. [D-IL-7], Rep. Watson Coleman, Bonnie [D-NJ-12], Rep. DeLauro, Rosa L. [D-CT-3], Rep. Bush, Cori [D-MO-1], Rep. Tokuda, Jill N. [D-HI-2], Rep. Barragán, Nanette Diaz [D-CA-44], Rep. Boyle, Brendan F. [D-PA-2], Rep. McCollum, Betty [D-MN-4], Rep. Raskin, Jamie [D-MD-8], Rep. Gomez, Jimmy [D-CA-34], Rep. Ocasio-Cortez, Alexandria [D-NY-14], Rep. Nadler, Jerrold [D-NY-12], Rep. Porter, Katie [D-CA-47], Rep. Chu, Judy [D-CA-28], Rep. Pocan, Mark [D-WI-2], Rep. Pascrell, Bill, Jr. [D-NJ-9], Rep. Wild, Susan [D-PA-7], Rep. Garamendi, John [D-CA-8], Sen. Schiff, Adam B. [D-CA], Rep. Foster, Bill [D-IL-11], Rep. Budzinski, Nikki [D-IL-13], Rep. Dean, Madeleine [D-PA-4], Rep. DeSaulnier, Mark [D-CA-10], Rep. Mullin, Kevin [D-CA-15], Rep. Casar, Greg [D-TX-35], Rep. Goldman, Daniel S. [D-NY-10], Rep. Omar, Ilhan [D-MN-5], Rep. Landsman, Greg [D-OH-1], Rep. Moulton, Seth [D-MA-6], Rep. Scanlon, Mary Gay [D-PA-5], Rep. Napolitano, Grace F. [D-CA-32], Rep. Jackson Lee, Sheila [D-TX-18], Rep. Clarke, Yvette D. [D-NY-9], Rep. Larson, John B. [D-CT-1], Rep. Williams, Nikema [D-GA-5], Rep. Huffman, Jared [D-CA-2], Rep. Hoyle, Val T. [D-OR-4], Rep. Norcross, Donald [D-NJ-1], Rep. Cleaver, Emanuel [D-MO-5], Rep. Sánchez, Linda T. [D-CA-38], Rep. Waters, Maxine [D-CA-43]

Subjects

Taxation

Source updated

11 June 2024

Taxation

Official sourceDownload fileView documentsShare

Summary

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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 29 November 2023

    Introduced

    Introduced in House

    Source: IntroReferral

  2. 29 November 2023

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 29 November 2023

    Introduced

    Referred to the House Committee on Ways and Means.

    Source: IntroReferral

Votes

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Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 29 November 2023

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  • Introduced in House (PDF)

    Introduced in House · EN · 29 November 2023

    ViewDownloadOpen at official source

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  • Introduced in House

    summary · EN · 29 November 2023

    Open at official source

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Sponsors

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Related records

Sources

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