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118th Congress Taxation

H.R. 7749: Ultra-Millionaire Tax Act of 2024

Introduced

  1. Introduced (completed)Mar 20, 2024
  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, Mar 20, 2024

This bill imposes a tax on the net value of all taxable assets of a taxpayer on the last day of any calendar year (i.e., a wealth tax). The amount of such tax is equal to the sum of 2% of the amount of taxpayer assets exceeding $50 million, but not in excess of $1 billion, plus the applicable percentage (3% or 6% if certain legislation is in effect) of the net value of such taxable assets exceeding $1 billion.

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

37

Who scored on this bill

6 points earned
  1. 1Pramila Jayapal D-WA SponsorReached a cosponsor milestone, introduced2 events+6
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Introductions and cosponsorships count toward weekly caps and show no points.

History

  1. Mar 20, 2024Introduced in the House by Pramila Jayapal.
Show the full action history (2 actions)
  1. Mar 20, 2024Introduced in House
  2. Mar 20, 2024Referred to the House Committee on Ways and Means.