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HR 4535 118th Congress House Taxation

Medicare and Social Security Fair Share Act

Introduced: July 30, 2024 Introduced by: Boyle, Brendan F. Democratic · Pennsylvania See on congress.gov
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) 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 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
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 Plain-English summary Congressional Research Service

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 December 17, 2024

Referred to the Subcommittee on Social Security.

 Related & companion bills 1
  • S 1174 Identical bill Medicare and Social Security Fair Share Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 3
 Cosponsors 2
All 2 Democratic 1
Nickel, Wiley
· Jul 30, 2024
 D
Omar, Ilhan
Minnesota · Sep 28, 2023
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 4535: Medicare and Social Security Fair Share Act. 118th Congress. Open America. https://openamerica.io/bill/118-HR-4535/
MLA
"H.R. 4535: Medicare and Social Security Fair Share Act." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-HR-4535/.
Bluebook (legal)
H.R. 4535, 118th Cong. (2026), https://openamerica.io/bill/118-HR-4535/.
Markdown link
[H.R. 4535: Medicare and Social Security Fair Share Act](https://openamerica.io/bill/118-HR-4535/)
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