118th Congress Taxation
S. 1174: Medicare and Social Security Fair Share Act
Introduced
- Introduced (completed)
- Passed Senate (not reached)
- Passed House (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill increases funding for the Social Security and Medicare trust funds by extending the payroll tax on wages, self-employment income, and investment income to taxpayers with earnings exceeding $400,000.
The bill also applies a payroll tax on the pass-through business income of taxpayers earning more than $400,000 (thus eliminating the classification of earned income as distributed business profits).
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Dianne Feinstein D-CA
- Kirsten Gillibrand D-NY
- Chris Van Hollen D-MD
- Amy Klobuchar D-MN
Who scored on this bill
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History
- Introduced in the Senate by Sheldon Whitehouse.
Show the full action history (2 actions)
- Introduced in Senate
- Read twice and referred to the Committee on Finance.