Paying a Fair Share Act of 2025

Bill 119 HR 2534, also known as the "Fair Share Tax Act," aims to ensure that high-income earners contribute their fair share of federal taxes. The bill proposes several measures to achieve this goal.

First, the bill would increase the top marginal tax rate for individuals earning over $1 million per year. This would help to address income inequality and ensure that those who can afford to pay more in taxes do so.

Second, the bill would close loopholes and tax breaks that benefit wealthy individuals and corporations. By eliminating these tax advantages, the bill aims to create a more equitable tax system where everyone pays their fair share. Additionally, the bill includes provisions to crack down on tax evasion and avoidance by high-income earners. This would help to ensure that all taxpayers comply with their tax obligations and prevent the wealthy from exploiting loopholes to reduce their tax burden. Overall, the Fair Share Tax Act seeks to promote fairness and equity in the federal tax system by ensuring that high-income earners pay their fair share. By increasing tax rates for the wealthy, closing loopholes, and cracking down on tax evasion, the bill aims to create a more just and equitable tax system for all Americans.