S 2028
Millionaires Surtax Act
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
This bill, the Millionaires Surtax Act, proposes a new 10% tax on the portion of an individual’s income that exceeds $2 million. It establishes different thresholds for taxpayers who don't file jointly or are surviving spouses, using $1 million instead of $2 million. The bill includes specific rules for nonresident aliens and citizens living abroad, and exempts charitable trusts from this additional tax. The surcharge will take effect starting in 2022.
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