Make Billionaires Pay Their Fair Share Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Overview
The Make Billionaires Pay Their Fair Share Act proposes a new tax on the net value of assets held by individuals and trusts with over $1 billion. It also includes provisions for affordability rebates, expansions to Medicare coverage for dental, hearing, and vision care, a minimum salary for public school teachers, and investments in home and community-based services. Additionally, the bill aims to repeal certain reconciliation health provisions and increase eligibility for premium tax credits under Medicare.
Key provisions
- Imposes a 5% annual tax on the net value of assets held by individuals and trusts exceeding $1 billion.
- Provides affordability rebates to eligible taxpayers based on household income.
- Expands Medicare coverage to include dental and oral health services, hearing care, and vision care.
- Establishes a minimum salary of $60,000 per year for all public school teachers.
- Authorizes funding for home and community-based services and long-term care quality improvements.
- Repeals certain reconciliation health provisions related to the Affordable Care Act.
- Increases eligibility for premium tax credits under Medicare.
- Establishes a registry for tracking asset ownership.
Who is affected
- High-net-worth individuals and trusts
- Taxpayers
- Healthcare providers
- Medicare beneficiaries
- Public school teachers
Bill text
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Sponsors
Official sponsors from legislative records.
8 on record
Primary sponsor
Cosponsors
![Eleanor Holmes [D-DC-At Large] Norton](/_next/image?url=https%3A%2F%2Fcivik-platform-media-us-east-1-prod.s3.us-east-1.amazonaws.com%2Flegislator-portraits%2Fcongress%2FN000147.jpg&w=64&q=75){kind=small}
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