HR 8558
117th Congress
House
Taxation
Billionaire Minimum Income Tax Act
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 28, 2022
Referred to the House Committee on Ways and Means.
Jul 28, 2022
Introduced in House
Plain-English 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.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1