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- H.R.8558
H.R.8558: Billionaire Minimum Income Tax Act
About This Bill
- Introduced July 28, 2022
- Latest Major Action July 28, 2022
- See the one similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
51 (All Democrats)
Bill Version
- Introduced in House - July 28, 2022
Bill Summary
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.
(Source: Library of Congress)
Bill Actions
Date | Description |
---|---|
July 28, 2022 |
Referred to the House Committee on Ways and Means.
|
July 28, 2022 |
Introduced in the House by Steve Cohen (D-Tenn.) |