Skip to main content
H.R. 7749 118th Congress House

Ultra-Millionaire Tax Act of 2024

Official title: To amend the Internal Revenue Code of 1986 to impose a tax on the net value of assets of a taxpayer, and for other purposes.

Introduced: March 20, 2024 Introduced by: Pramila Jayapal Democratic · Washington See on congress.gov
Taxation
Sign in to write a letter

Free account. One morning email at most, only on days something moved. Already have one? Sign in.

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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 20, 2024
Referred to the House Committee on Ways and Means.
Mar 20, 2024
Introduced in House
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Latest action March 20, 2024

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

Ultra-Millionaire Tax Act of 2024 

This bill imposes a tax on the net value of all taxable assets of a taxpayer on the last day of any calendar year (i.e., a wealth tax). The amount of such tax is equal to the sum of 2% of the amount of taxpayer assets exceeding $50 million, but not in excess of $1 billion, plus the applicable percentage (3% or 6% if certain legislation is in effect) of the net value of such taxable assets exceeding $1 billion. 

 Related & companion bills 1
  • S 4017 Identical bill Ultra-Millionaire Tax Act of 2024
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Lobbying activity 2

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

Bodies those filers lobbied

A filing lists the bills it worked on and the parts of government it contacted in separate sections, so these are the bodies those filers named anywhere in the filing, not a per-bill breakdown.

 Cosponsors 37
All 37 Democratic 30
D
Pallone, Frank
New Jersey · Dec 16, 2024
 D
Deluzio, Christopher R.
Pennsylvania · May 21, 2024
 D
Garcia, Robert
California · Apr 11, 2024
 D
DeSaulnier, Mark
California · Apr 10, 2024
 D
Beyer, Donald S.
Virginia · Mar 20, 2024
Bowman, Jamaal
· Mar 20, 2024
 D
Boyle, Brendan F.
Pennsylvania · Mar 20, 2024
Bush, Cori
· Mar 20, 2024
 D
Chu, Judy
California · Mar 20, 2024
 D
Davis, Danny K.
Illinois · Mar 20, 2024
 D
Evans, Dwight
Pennsylvania · Mar 20, 2024
 D
García, Jesús G. "Chuy"
Illinois · Mar 20, 2024
 D
Goldman, Daniel S.
New York · Mar 20, 2024
 D
Grijalva, Raúl M.
Arizona · Mar 20, 2024
 D
Ivey, Glenn
Maryland · Mar 20, 2024
 D
Jackson, Jonathan L.
Illinois · Mar 20, 2024
 D
Johnson, Henry C. "Hank"
Georgia · Mar 20, 2024
Lee, Barbara
· Mar 20, 2024
 D
Lee, Summer L.
Pennsylvania · Mar 20, 2024
 D
McGovern, James P.
Massachusetts · Mar 20, 2024
 D
Nadler, Jerrold
New York · Mar 20, 2024
 D
Norton, Eleanor Holmes
District of Columbia · Mar 20, 2024
 D
Ocasio-Cortez, Alexandria
New York · Mar 20, 2024
 D
Omar, Ilhan
Minnesota · Mar 20, 2024
Porter, Katie
· Mar 20, 2024
 D
Pressley, Ayanna
Massachusetts · Mar 20, 2024
 D
Ramirez, Delia C.
Illinois · Mar 20, 2024
 D
Schakowsky, Janice D.
Illinois · Mar 20, 2024
 D
Schiff, Adam B.
California · Mar 20, 2024
 D
Smith, Adam
Washington · Mar 20, 2024
 D
Takano, Mark
California · Mar 20, 2024
 D
Tlaib, Rashida
Michigan · Mar 20, 2024
 D
Tokuda, Jill N.
Hawaii · Mar 20, 2024
Trone, David
· Mar 20, 2024
 D
Waters, Maxine
California · Mar 20, 2024
 D
Watson Coleman, Bonnie
New Jersey · Mar 20, 2024
Wild, Susan
· Mar 20, 2024
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 7749: Ultra-Millionaire Tax Act of 2024. 118th Congress. Open America. https://openamerica.io/bill/118-HR-7749/
MLA
"H.R. 7749: Ultra-Millionaire Tax Act of 2024." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-HR-7749/.
Bluebook (legal)
H.R. 7749, 118th Cong. (2026), https://openamerica.io/bill/118-HR-7749/.
Markdown link
[H.R. 7749: Ultra-Millionaire Tax Act of 2024](https://openamerica.io/bill/118-HR-7749/)
Report a problem