Bill Pascrell Ending Tax Giveaway Act

Hozzl · 2024-11-02T05:53:17Z

Explore the details of House Bill 9956 Bill Pascrell Ending Tax Giveaway Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on undefined. Stay informed on legislative developments.

11/2/2024, 5:53 AM

Summary of Bill HR 9956

Bill 118 HR 9956, also known as the Bill Pascrell Ending Tax Giveaway Act, is a piece of legislation introduced in the US Congress. The bill aims to address what its proponents see as unfair tax breaks for wealthy individuals and corporations.

The main provisions of the bill include closing loopholes that allow corporations to avoid paying taxes, increasing taxes on the wealthiest individuals, and implementing a minimum tax rate for high-income earners. The bill also seeks to eliminate tax breaks for industries such as fossil fuels and pharmaceuticals.

Supporters of the bill argue that it is necessary to ensure that all Americans pay their fair share of taxes and to reduce income inequality. They believe that the current tax system disproportionately benefits the wealthy and powerful, and that the Bill Pascrell Ending Tax Giveaway Act will help to level the playing field. Opponents of the bill, on the other hand, argue that it will stifle economic growth and discourage investment. They believe that higher taxes on corporations and the wealthy will lead to job losses and reduced competitiveness in the global market. Overall, the Bill Pascrell Ending Tax Giveaway Act is a controversial piece of legislation that has sparked debate among lawmakers and the public. Its fate in Congress remains uncertain, but it is clear that the bill addresses important issues surrounding tax policy and income inequality in the United States.

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Current Status of Bill HR 9956

Bill HR 9956 is currently in the status of Bill Introduced since October 11, 2024. Bill HR 9956 was introduced during Congress 118 and was introduced to the House on October 11, 2024. Bill HR 9956's most recent activity was Referred to the House Committee on Ways and Means. as of October 11, 2024

Bipartisan Support of Bill HR 9956

Total Number of Sponsors

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Unaffiliated Sponsors

Total Number of Cosponsors

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Policy Area and Potential Impact of Bill HR 9956

Primary Policy Focus

Alternate Title(s) of Bill HR 9956

Bill Pascrell Ending Tax Giveaway ActBill Pascrell Ending Tax Giveaway ActTo amend the Internal Revenue Code of 1986 to provide for the proper tax treatment of personal service income earned in pass-thru entities.

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Sponsors and Cosponsors of HR 9956

Matt Cartwright

Pennsylvania(Democrat)

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