Bill118th CongressFiled Nov 29, 2023Taxation
H.R. 6498
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 (Nov 29, 2023)
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 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.
What just happenedNov 29, 2023
Referred to the House Committee on Ways and Means.
Who’s behind it
Rep. Cohen, Steve [D-TN-9](D-TN)Sponsor
61 cosponsors61 D
61cosponsors1committees3actions
- Introduced in HouseNov 29, 2023
- Nov 29, 2023IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Nov 29, 2023IntroReferralIntro-H
Introduced in House
- Nov 29, 2023IntroReferral1000
Introduced in House