Billionaires Income Tax Act

Hozzl · 2025-10-11T02:38:12Z

Explore the details of Senate Bill 2845 Billionaires Income Tax Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on undefined. Stay informed on legislative developments.

10/11/2025, 2:38 AM

Summary of Bill S 2845

The bill introduced in the 119th Congress and numbered S. 2845 aims to amend the Internal Revenue Code of 1986 to close tax loopholes that enable billionaires to indefinitely defer taxes using strategies like "buy, borrow, die". The bill proposes changes to over 30 tax provisions to mandate billionaires to pay taxes yearly, among other specified purposes.

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Current Status of Bill S 2845

Bill S 2845 is currently in the status of Bill Introduced since September 17, 2025. Bill S 2845 was introduced during Congress 119 and was introduced to the Senate on September 17, 2025. Bill S 2845's most recent activity was Read twice and referred to the Committee on Finance. as of September 17, 2025

Bipartisan Support of Bill S 2845

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Policy Area and Potential Impact of Bill S 2845

Primary Policy Focus

Alternate Title(s) of Bill S 2845

A bill to amend the Internal Revenue Code of 1986 to eliminate tax loopholes that allow billionaires to defer tax indefinitely through planning strategies such as "buy, borrow, die", to modify over 30 tax provisions so that billionaires are required to pay taxes annually, and for other purposes.