Inclusive Prosperity Act of 2015
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (May 19, 2015)
Inclusive Prosperity Act of 2015
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.
What just happenedMay 19, 2015
Read twice and referred to the Committee on Finance.
Who’s behind it
- Introduced in SenateMay 19, 2015
- May 19, 2015IntroReferral
Read twice and referred to the Committee on Finance.
Finance Committee - May 19, 2015IntroReferral10000
Introduced in Senate