Bill117th CongressFiled Jul 28, 2022Taxation
H.R. 8558
Billionaire Minimum Income Tax Act
Bill journey · stage 2 of 5
Under committee review
FiledFiled
CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it doesSummary introduced in house (Jul 28, 2022)
Billionaire Minimum Income Tax Act
This bill imposes a minimum tax on individual taxpayers whose net worth for the taxable year exceeds $100 million. The tax is equal to 20% 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.
What just happenedJul 28, 2022
Referred to the House Committee on Ways and Means.
Who’s behind it
Rep. Cohen, Steve [D-TN-9](D-TN)Sponsor
55 cosponsors55 D
55cosponsors1committees3actions
- Introduced in HouseJul 28, 2022
- Jul 28, 2022IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Jul 28, 2022IntroReferralIntro-H
Introduced in House
- Jul 28, 2022IntroReferral1000
Introduced in House