Ultra-Millionaire Tax Act of 2024
This bill died when its Congress ended.
Bills don't carry over between Congresses. Without re-introduction in a new session, it cannot advance.
This bill imposes a tax on the net value of all taxable assets of a taxpayer on the last day of any calendar year (i.e., a wealth tax). The amount of such tax is equal to the sum of 2% of the amount of taxpayer assets exceeding $50 million, but not in excess of $1 billion, plus the applicable percentage (3% or 6% if certain legislation is in effect) of the net value of such taxable assets exceeding $1 billion.
Filed in the House
This house bill has been filed and is working its way through Congress. It will need to pass both the House and the Senate, then be signed by the President to become law.
Who introduced this
Pramila Jayapal
DemocratU.S. Representative · WA-7
37 cosponsors — all Democrat
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