US Congress House Bill 2923 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 34-0)
Status: Introduced on May 22 2019 - 25% progression, died in committee
Action: 2019-05-22 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Imposes 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); and derivative financial instruments. The bill includes exceptions for initial issues, certain traded short-term indebtedness, and securities lending arrangements. The bill also (1) imposes a penalty on taxpayers who fail to include a covered transaction on their tax return or information statement, and (2) allows 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.

Inclusive Prosperity Act of 2019

Rep. Barbara Lee [D-CA]	Rep. Eleanor Norton [D-DC]	Rep. Mark Takano [D-CA]	Rep. Ro Khanna [D-CA]
Rep. Steve Cohen [D-TN]	Rep. Pramila Jayapal [D-WA]	Rep. Rosa DeLauro [D-CT]	Rep. Ilhan Omar [D-MN]
Rep. James McGovern [D-MA]	Rep. Jared Huffman [D-CA]	Rep. Mark Pocan [D-WI]	Rep. Janice Schakowsky [D-IL]
Rep. Raul Grijalva [D-AZ]	Rep. Chellie Pingree [D-ME]	Rep. Alan Lowenthal [D-CA]	Rep. Tulsi Gabbard [D-HI]
Rep. Adriano Espaillat [D-NY]	Rep. Rashida Tlaib [D-MI]	Rep. John Garamendi [D-CA]	Rep. Alcee Hastings [D-FL]
Rep. Debra Haaland [D-NM]	Rep. Mary Gay Scanlon [D-PA]	Rep. Zoe Lofgren [D-CA]	Rep. Bonnie Coleman [D-NJ]
Rep. John Sarbanes [D-MD]	Rep. Ted Lieu [D-CA]	Rep. Yvette Clarke [D-NY]	Rep. Jesus Garcia [D-IL]
Rep. Alexandria Ocasio-Cortez [D-NY]	Rep. Ayanna Pressley [D-MA]	Rep. Andy Levin [D-MI]	Rep. Bobby Rush [D-IL]
Rep. Jamie Raskin [D-MD]	Rep. Judy Chu [D-CA]

Date	Chamber	Action
2019-05-22	House	Referred to the House Committee on Ways and Means.
2019-05-22	House	Introduced in House

SB1587 (Same As) 2019-05-22 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/2923/all-info
Text	https://www.congress.gov/116/bills/hr2923/BILLS-116hr2923ih.pdf