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United States · Bill · HR

H.R. 8558 (117th)

Billionaire Minimum Income Tax Act

referredUnited States· United States Congress· EN

Introduced

28 July 2022

Last action

28 July 2022 · Introduced

Status

Referred to the House Committee on Ways and Means.

Sponsors

Rep. Cohen, Steve [D-TN-9], Rep. Beyer, Donald S. [D-VA-8], Rep. Carson, André [D-IN-7], Rep. DeLauro, Rosa L. [D-CT-3], Rep. Evans, Dwight [D-PA-3], Rep. Foster, Bill [D-IL-11], Rep. García, Jesús G. "Chuy" [D-IL-4], Rep. Grijalva, Raúl M. [D-AZ-7], Rep. Jones, Mondaire [D-NY-17], Rep. Lee, Barbara [D-CA-12], Rep. McCollum, Betty [D-MN-4], Marie Newman, Rep. DeFazio, Peter A. [D-OR-4], Rep. Nadler, Jerrold [D-NY-12], Rep. Schakowsky, Janice D. [D-IL-9], Rep. Barragán, Nanette Diaz [D-CA-44], Rep. Gomez, Jimmy [D-CA-34], Del. Norton, Eleanor Holmes [D-DC-At Large], Rep. Porter, Katie [D-CA-47], Rep. Tlaib, Rashida [D-MI-12], Rep. Watson Coleman, Bonnie [D-NJ-12], Sen. Welch, Peter [D-VT], Rep. Garamendi, John [D-CA-8], Rep. Davis, Danny K. [D-IL-7], Rep. Yarmuth, John A. [D-KY-3], Rep. McGovern, James P. [D-MA-2], Rep. Clarke, Yvette D. [D-NY-9], Rep. Boyle, Brendan F. [D-PA-2], Del. Plaskett, Stacey E. [D-VI-At Large], Rep. Takano, Mark [D-CA-39], Rep. Moulton, Seth [D-MA-6], Rep. Maloney, Carolyn B. [D-NY-12], Rep. DeSaulnier, Mark [D-CA-10], Sen. Schiff, Adam B. [D-CA], Rep. Kelly, Robin L. [D-IL-2], Rep. Scanlon, Mary Gay [D-PA-5], Rep. Chu, Judy [D-CA-28], Rep. Napolitano, Grace F. [D-CA-32], Rep. Trahan, Lori [D-MA-3], Rep. Omar, Ilhan [D-MN-5], Rep. Pocan, Mark [D-WI-2], Rep. Titus, Dina [D-NV-1], Rep. Trone, David J. [D-MD-6], Rep. Bush, Cori [D-MO-1], Rep. Lieu, Ted [D-CA-36], Rep. Ocasio-Cortez, Alexandria [D-NY-14], Rep. Kirkpatrick, Ann [D-AZ-2], Rep. Jackson Lee, Sheila [D-TX-18]

Subjects

Taxation

Source updated

3 January 2025

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 20% 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. 28 July 2022

    Introduced

    Referred to the House Committee on Ways and Means.

    Source: IntroReferral

  2. 28 July 2022

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 28 July 2022

    Introduced

    Introduced in House

    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 · 28 July 2022

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  • Introduced in House (PDF)

    Introduced in House · EN · 28 July 2022

    ViewDownloadOpen at official source

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  • Introduced in House

    summary · EN · 28 July 2022

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Sponsors

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Related records

Sources

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