House Bill 6498 - Billionaire Minimum Income Tax Act

Hozzl · 2024-01-26T15:00:20Z

Explore the details of House Bill 6498 Billionaire Minimum Income Tax Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

Purpose and Summary

Chamber: House

Introduced date: 2023-11-29

Recent Activity

Referred to the House Committee on Ways and Means.

Alternative Names

Billionaire Minimum Income Tax Act

To amend the Internal Revenue Code of 1986 to impose a minimum tax on certain wealthy taxpayers that takes into account unrealized gains.

Associated Legislation

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Policy Areas

Taxation

Potential Impact

Sponsors and Supporters

Rep. Cohen, Steve [D-TN-9]

Cosponsors and Supporters

Rep. Schakowsky, Janice D. [D-IL-9]

Rep. Tlaib, Rashida [D-MI-12]

Rep. Garcia, Jesus G. "Chuy" [D-IL-4]

Rep. Kelly, Robin L. [D-IL-2]

Rep. McGovern, James P. [D-MA-2]

Del. Norton, Eleanor Holmes [D-DC-At Large]

Rep. Davis, Danny K. [D-IL-7]

Rep. Watson Coleman, Bonnie [D-NJ-12]

Rep. DeLauro, Rosa L. [D-CT-3]

Rep. Bush, Cori [D-MO-1]

Rep. Tokuda, Jill N. [D-HI-2]

Rep. Barragan, Nanette Diaz [D-CA-44]

Rep. Boyle, Brendan F. [D-PA-2]

Rep. McCollum, Betty [D-MN-4]

Rep. Raskin, Jamie [D-MD-8]

Rep. Gomez, Jimmy [D-CA-34]

Rep. Ocasio-Cortez, Alexandria [D-NY-14]

Rep. Nadler, Jerrold [D-NY-12]

Rep. Porter, Katie [D-CA-47]

Rep. Chu, Judy [D-CA-28]

Rep. Pocan, Mark [D-WI-2]

Rep. Pascrell, Bill, Jr. [D-NJ-9]

Rep. Wild, Susan [D-PA-7]

Rep. Garamendi, John [D-CA-8]

Rep. Schiff, Adam B. [D-CA-30]

Rep. Foster, Bill [D-IL-11]

Rep. Budzinski, Nikki [D-IL-13]

Rep. Dean, Madeleine [D-PA-4]

Rep. DeSaulnier, Mark [D-CA-10]

Rep. Mullin, Kevin [D-CA-15]

Rep. Casar, Greg [D-TX-35]

Rep. Goldman, Daniel S. [D-NY-10]

Rep. Omar, Ilhan [D-MN-5]

Rep. Landsman, Greg [D-OH-1]

Rep. Moulton, Seth [D-MA-6]

Rep. Scanlon, Mary Gay [D-PA-5]

Rep. Napolitano, Grace F. [D-CA-31]

Rep. Jackson Lee, Sheila [D-TX-18]

Rep. Clarke, Yvette D. [D-NY-9]

Rep. Larson, John B. [D-CT-1]

Rep. Williams, Nikema [D-GA-5]

Rep. Huffman, Jared [D-CA-2]

Rep. Hoyle, Val T. [D-OR-4]

Rep. Norcross, Donald [D-NJ-1]

Rep. Cleaver, Emanuel [D-MO-5]

Rep. Sánchez, Linda T. [D-CA-38]

Rep. Waters, Maxine [D-CA-43]

Rep. Carson, Andre [D-IN-7]

Rep. Takano, Mark [D-CA-39]

Rep. Evans, Dwight [D-PA-3]

Rep. Carter, Troy [D-LA-2]

Rep. Grijalva, Raúl M. [D-AZ-7]

Rep. Trahan, Lori [D-MA-3]

Rep. Trone, David J. [D-MD-6]

Rep. Kaptur, Marcy [D-OH-9]

Rep. Lee, Barbara [D-CA-12]

Rep. Lieu, Ted [D-CA-36]

Rep. Titus, Dina [D-NV-1]

Rep. Frost, Maxwell [D-FL-10]

Rep. Keating, William R. [D-MA-9]

Committees and Subcommittees

Ways and Means Committee

Variations and Revisions

Kevin Mullin Daniel S. Goldman

Billionaire Minimum Income Tax Act

1/26/2024, 3:00 PM

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 25% of the sum of a taxpayer's taxable income, plus ...

Congress

118

Number

HR - 6498

Introduced on

2023-11-29

# Amendments

Variations and Revisions

11/29/2023

Text

PDF

XML

Status of Legislation

Bill Introduced

Introduced to House

House to Vote

Introduced to Senate

Senate to Vote

Purpose and 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 25% of the sum of a taxpayer's taxable income, plus ...

Alternative Names

Official Title as IntroducedTo amend the Internal Revenue Code of 1986 to impose a minimum tax on certain wealthy taxpayers that takes into account unrealized gains.

Policy Areas

Taxation

Comments

Member: Kevin Mullin

Member: Daniel S. Goldman

Recent Activity

Latest Summary1/26/2024

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 25% of the sum of a taxpayer's taxable income, plus ...

Latest Action11/29/2023

Referred to the House Committee on Ways and Means.