HR 4535
118th Congress
House
Taxation
Medicare and Social Security Fair Share Act
Introduced: July 11, 2023
Introduced by:
Boyle, Brendan F.
Democratic
· Pennsylvania
See on congress.gov
Everywhere this bill has been
4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 17, 2024
Referred to the Subcommittee on Social Security.
Dec 17, 2024
Referred to the Subcommittee on Health.
Jul 11, 2023
Referred to the House Committee on Ways and Means.
Jul 11, 2023
Introduced in House
Plain-English summary
Medicare and Social Security Fair Share Act
This bill increases funding for the Social Security and Medicare trust funds by extending the payroll tax on wages, self-employment income, and investment income to taxpayers with earnings exceeding $400,000.
The bill also applies a payroll tax on the pass-through business income of taxpayers earning more than $400,000 (thus eliminating the classification of earned income as distributed business profits).
What's happening now
Referred to the Subcommittee on Social Security.
Committees of jurisdiction
3
Cosponsors
1