US Congress House Bill 2159 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 11-0)
Status: Introduced on April 26 2017 - 25% progression, died in committee
Action: 2017-04-26 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Paying a Fair Share Act of 2017 This bill amends the Internal Revenue Code to require an individual taxpayer whose adjusted gross income exceeds $1 million (high-income taxpayer) to pay a minimum tax rate of 30% of the excess of the taxpayer's adjusted gross income over the taxpayer's modified charitable contribution deduction for the taxable year (tentative fair share tax). The amount of the tax is the excess (if any) of the tentative fair share tax over the excess of: (1) the sum of the taxpayer's regular tax liability, the alternative minimum tax (AMT) amount, and the payroll tax for the taxable year; over (2) certain tax credits. The bill provides for a phase-in of such tax and requires an inflation adjustment to the $1 million income threshold for taxable years beginning after 2018. The bill also expresses the sense of the House of Representatives that Congress should enact tax reform that repeals unfair and unnecessary tax loopholes and expenditures, simplifies the tax system, and makes sure that the wealthiest taxpayers pay a fair share of taxes.

Paying a Fair Share Act of 2017

Rep. David Cicilline [D-RI]	Rep. John Delaney [D-MD]	Rep. Barbara Lee [D-CA]	Rep. James Langevin [D-RI]
Rep. Mark Pocan [D-WI]	Rep. Janice Schakowsky [D-IL]	Rep. Louise Slaughter [D-NY]	Rep. Katherine Clark [D-MA]
Rep. John Conyers [D-MI]	Rep. Eleanor Norton [D-DC]	Rep. Ro Khanna [D-CA]

Date	Chamber	Action
2017-04-26	House	Referred to the House Committee on Ways and Means.
2017-04-26	House	Introduced in House

HB2477 (Related) 2017-05-17 - Referred to the Committee on Education and the Workforce, and in addition to the Committees on Ways and Means, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
SB955 (Related) 2017-04-27 - Read twice and referred to the Committee on Finance.
SB1162 (Related) 2017-05-17 - Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S3015)

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/2159/all-info
Text	https://www.congress.gov/115/bills/hr2159/BILLS-115hr2159ih.pdf