US SB805 | 2017-2018 | 115th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on April 3 2017 - 25% progression, died in committee
Action: 2017-04-03 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on April 3 2017 - 25% progression, died in committee
Action: 2017-04-03 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Inclusive Prosperity Act of 2017 This bill 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.
Title
Inclusive Prosperity Act of 2017
Sponsors
Sen. Bernard Sanders [I-VT] | Sen. Kirsten Gillibrand [D-NY] |
History
Date | Chamber | Action |
---|---|---|
2017-04-03 | Senate | Read twice and referred to the Committee on Finance. |
Same As/Similar To
HB1144 (Related) 2017-02-16 - Referred to the House Committee on Ways and Means.
Subjects
Financial services and investments
Government information and archives
Income tax credits
Sales and excise taxes
Securities
Tax administration and collection, taxpayers
Taxation
Government information and archives
Income tax credits
Sales and excise taxes
Securities
Tax administration and collection, taxpayers
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/115th-congress/senate-bill/805/all-info |
Text | https://www.congress.gov/115/bills/s805/BILLS-115s805is.pdf |