House bill HR6498-118

Ways and Means Committee

Billionaire Minimum Income Tax Act

• Last activity on Nov 29, 2023

• Introduced Nov 29, 2023

• By Rep. Cohen, Steve [D-TN-9]

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Main Subject: Taxation

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.

House floor actions Actions

IntroReferral
Nov. 29 2023	Referred to the House Committee on Ways and Means.

Library of Congress Actions

IntroReferral
Nov. 29 2023	Introduced in House Introduced in House

House bill HR6498-118

Billionaire Minimum Income Tax Act

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