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S 1587 116th Congress Senate Taxation Financial services and investments Government information and archives Income tax credits Sales and excise taxes Securities Tax administration and collection, taxpayers

Inclusive Prosperity Act of 2019

Introduced: May 22, 2019 Introduced by: Sanders, Bernard Independent · Vermont See on congress.gov
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 22, 2019
Read twice and referred to the Committee on Finance.
May 22, 2019
Introduced in Senate
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 Plain-English summary Congressional Research Service

Inclusive Prosperity Act of 2019

This bill imposes an excise tax on the transfer of ownership in certain securities (covered transaction), including any share of stock in a corporation; any partnership or beneficial interest in a partnership or trust; any note, bond, debenture, or other evidence of indebtedness (excluding tax-exempt municipal bonds); and derivative financial instruments.

The bill includes exceptions for initial issues, certain traded short-term indebtedness, and securities lending arrangements.

The bill also (1) imposes a penalty on taxpayers who fail to include a covered transaction on their tax return or information statement, and (2) allows an individual taxpayer whose modified adjusted gross income does not exceed $50,000 ($75,000 for married taxpayers filing joint returns) a tax credit for the amount of tax paid on covered transactions.

What's happening now May 22, 2019

Read twice and referred to the Committee on Finance.

 Related & companion bills 1
  • HR 2923 Identical bill Inclusive Prosperity Act of 2019
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Gillibrand, Kirsten E.
New York · May 22, 2019
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1587: Inclusive Prosperity Act of 2019. 116th Congress. Open America. https://openamerica.io/bill/116-S-1587/
MLA
"S. 1587: Inclusive Prosperity Act of 2019." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-S-1587/.
Bluebook (legal)
S. 1587, 116th Cong. (2026), https://openamerica.io/bill/116-S-1587/.
Markdown link
[S. 1587: Inclusive Prosperity Act of 2019](https://openamerica.io/bill/116-S-1587/)
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