Inclusive Prosperity Act of 2017

Summary

Inclusive Prosperity Act of 201 7 This bill amends the Internal Revenue Code to: (1) impose an excise tax on the transfer of ownership in certain securities (covered transaction), including any share of stock in a corporation, any partnership or beneficial interest in a partnership or trust, any note, bond, debenture, or other evidence of indebtedness (excluding tax-exempt municipal bonds), or derivative financial instruments; (2) impose a penalty on taxpayers who fail to include a covered transaction on their tax return or information statement; and (3) allow an individual taxpayer whose modified adjusted gross income does not exceed $50,000 ($75,000 for married taxpayers filing joint returns) a tax credit for the amount of tax paid on covered transactions.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 3 April 2017

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 3 April 2017

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• Introduced in Senate

  summary · EN · 3 April 2017

  Open at official source

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