To amend the Social Security Act and the Internal Revenue Code of 1986 to include net investment income tax imposed in the Federal Hospital Insurance Trust Fund and to modify the net investment income tax.
2/11/2025, 9:00 AMSummary of Bill HR 609
Bill 119 hr 609 aims to make changes to the Social Security Act and the Internal Revenue Code of 1986 in order to include the net investment income tax imposed in the Federal Hospital Insurance Trust Fund. The bill also seeks to modify the net investment income tax.The net investment income tax is a tax that is imposed on certain types of investment income, such as interest, dividends, and capital gains. This tax is currently used to help fund the Federal Hospital Insurance Trust Fund, which provides funding for Medicare.
The proposed changes in this bill would impact how the net investment income tax is calculated and collected. It would also make adjustments to how the tax revenue is allocated to the Federal Hospital Insurance Trust Fund. Overall, Bill 119 hr 609 is focused on making changes to the net investment income tax in order to better support the Federal Hospital Insurance Trust Fund and ensure that it has the necessary funding to continue providing Medicare benefits to eligible individuals.
Current Status of Bill HR 609
Bill HR 609 is currently in the status of Bill Introduced since January 22, 2025. Bill HR 609 was introduced during Congress 119 and was introduced to the House on January 22, 2025. Bill HR 609's most recent activity was Referred to the House Committee on Ways and Means. as of January 22, 2025Bipartisan Support of Bill HR 609
Total Number of Sponsors
4Democrat Sponsors
4Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
186Democrat Cosponsors
186Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 609
Primary Policy Focus
Alternate Title(s) of Bill HR 609
To amend the Social Security Act and the Internal Revenue Code of 1986 to include net investment income tax imposed in the Federal Hospital Insurance Trust Fund and to modify the net investment income tax.To amend the Social Security Act and the Internal Revenue Code of 1986 to include net investment income tax imposed in the Federal Hospital Insurance Trust Fund and to modify the net investment income tax.Comments
Most relevant
Sponsors and Cosponsors of HR 609
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