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Billionaires Income Tax Act
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.
Read the Full Bill
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
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
41Democrat Cosponsors
39Republican Cosponsors
0Unaffiliated Cosponsors
2Policy 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.
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.
Comments
Sponsors and Cosponsors of S 2845
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