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118th Congress Taxation

H.R. 6498: Billionaire Minimum Income Tax Act

Introduced

  1. Introduced (completed)Nov 29, 2023
  2. Passed House (not reached)
  3. Passed Senate (not reached)
  4. To the President (not reached)
  5. Became law (not reached)

Summary

Introduced in House, Nov 29, 2023

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.

Written by the Congressional Research Service, Library of Congress.

Roll calls

0 votes on this bill

No roll call votes have been held on this bill.

Amendments

0 offered

No amendments were offered to this bill.

Cosponsors

61

Who scored on this bill

12 points earned
  1. 1Steve Cohen D-TN SponsorReached a cosponsor milestone, introduced3 events+12
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Introductions and cosponsorships count toward weekly caps and show no points.

Other bills by Steve Cohen

History

  1. Nov 29, 2023Introduced in the House by Steve Cohen.
Show the full action history (2 actions)
  1. Nov 29, 2023Introduced in House
  2. Nov 29, 2023Referred to the House Committee on Ways and Means.