US Congress Senate Bill 1371 (Prior Session Legislation)

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Sponsorship: Bipartisan Bill
Status: Introduced on May 19 2015 - 25% progression, died in committee
Action: 2015-05-19 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Inclusive Prosperity Act of 2015 Amends the Internal Revenue Code to: (1) impose an excise tax on the transfer of ownership in certain securities (covered transaction), including any share of stock in a corporation, any partnership or beneficial interest in a partnership or trust, any note, bond, debenture, or other evidence of indebtedness (excluding tax-exempt municipal bonds), or derivative financial instruments; (2) impose a penalty on taxpayers who fail to include a covered transaction on their tax return or information statement; and (3) allow an individual taxpayer whose modified adjusted gross income does not exceed $50,000 ($75,000 for married taxpayers filing joint returns) a tax credit for the amount of tax paid on covered transactions.

Inclusive Prosperity Act of 2015

Sen. Bernard Sanders [I-VT]

Sen. Brian Schatz [D-HI]

Date	Chamber	Action
2015-05-19	Senate	Read twice and referred to the Committee on Finance.

HB1464 (Same As) 2015-03-19 - Referred to the House Committee on Ways and Means.
SB1373 (Related) 2015-05-19 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/senate-bill/1371/all-info
Text	https://www.congress.gov/114/bills/s1371/BILLS-114s1371is.pdf