Introduced in House (07/28/2022)

Billionaire Minimum Income Tax Act

This bill imposes a minimum tax on individual taxpayers whose net worth for the taxable year exceeds $100 million. The tax is equal to 20% of the sum of a taxpayer\'s taxable income, plus net unrealized gains for the taxable year. The tax may not exceed 40% of the amount by which the taxpayer\'s net worth exceeds $100 million.

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