Make Billionaires Pay Their Fair Share Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- 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 wealthy individuals, defined as those with over $1 billion in assets. It also includes provisions for affordability rebates, expands Medicare coverage to include dental, hearing, and vision care, and establishes a minimum salary for public school teachers. Additionally, the bill aims to reform Medicare’s payment structure and expand coverage for eyeglasses.
Key provisions
- Imposes a 5% annual tax on the net value of assets held by individuals or trusts with over $1 billion in assets.
- 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.
- Repeals certain reconciliation health provisions from the 119th Congress.
- Increases eligibility for premium tax credits under the Affordable Care Act.
- Authorizes appropriations for implementation of the bill’s provisions.
- Modifies Medicare’s payment structure to include vision services and eyeglasses.
Who is affected
- High-net-worth individuals (those with over $1 billion in assets)
- Taxpayers
- Healthcare providers (dentists, audiologists, optometrists)
- Public school teachers
Bill text
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Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Cosponsor
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