HR 6498 United States House · 118th Congress

Billionaire Minimum Income Tax Act

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 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.

Issues: ✓ Budget & Taxes

Bill status in committee 1 of 4 stages cleared

Introduction

Nov 2023

Committee Review

Floor Vote

President

Introduced Nov 29, 2023 Last action Nov 29, 2023

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

2

Key actions

0

Committee

1

Nov 29, 2023

Committee

Referred to the House Committee on Ways and Means.

lower

Nov 29, 2023

Introduced

Introduced in House

lower

1 primary · 61 co-sponsors

Sponsors

Role

Legislator

Party

State

District

Alexandria Ocasio-Cortez

Bill Pascrell, Jr.

Bonnie Watson Coleman

Brendan F. Boyle