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Inclusive Prosperity Act of 2019

USA116th CongressHR-2923| House 
| Updated: 5/22/2019
Barbara Lee

Barbara Lee

Democratic Representative

California

Cosponsors (33)
John Garamendi (Democratic)Jared Huffman (Democratic)Raúl M. Grijalva (Democratic)Mark Pocan (Democratic)Debra A. Haaland (Democratic)Ilhan Omar (Democratic)Bobby L. Rush (Democratic)Andy Levin (Democratic)Steve Cohen (Democratic)John P. Sarbanes (Democratic)Rosa L. DeLauro (Democratic)Adriano Espaillat (Democratic)Ted Lieu (Democratic)Ro Khanna (Democratic)Alan S. Lowenthal (Democratic)Mark Takano (Democratic)Pramila Jayapal (Democratic)Eleanor Holmes Norton (Democratic)Bonnie Watson Coleman (Democratic)Mary Gay Scanlon (Democratic)Tulsi Gabbard (Democratic)Jamie Raskin (Democratic)Janice D. Schakowsky (Democratic)James P. McGovern (Democratic)Alexandria Ocasio-Cortez (Democratic)Yvette D. Clarke (Democratic)Zoe Lofgren (Democratic)Jesús G. "Chuy" García (Democratic)Rashida Tlaib (Democratic)Ayanna Pressley (Democratic)Alcee L. Hastings (Democratic)Chellie Pingree (Democratic)Judy Chu (Democratic)

Ways and Means Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Inclusive Prosperity Act of 2019 This bill 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.
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Timeline
May 22, 2019

Latest Companion Bill Action

S 116-1587
Introduced in Senate
May 22, 2019
Introduced in House
May 22, 2019
Referred to the House Committee on Ways and Means.
  • May 22, 2019

    Latest Companion Bill Action

    S 116-1587
    Introduced in Senate


  • May 22, 2019
    Introduced in House


  • May 22, 2019
    Referred to the House Committee on Ways and Means.

Taxation

Related Bills

  • S 116-1587: Inclusive Prosperity Act of 2019
Financial services and investmentsGovernment information and archivesIncome tax creditsSales and excise taxesSecuritiesTax administration and collection, taxpayers

Inclusive Prosperity Act of 2019

USA116th CongressHR-2923| House 
| Updated: 5/22/2019
Inclusive Prosperity Act of 2019 This bill 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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
May 22, 2019

Latest Companion Bill Action

S 116-1587
Introduced in Senate
May 22, 2019
Introduced in House
May 22, 2019
Referred to the House Committee on Ways and Means.
  • May 22, 2019

    Latest Companion Bill Action

    S 116-1587
    Introduced in Senate


  • May 22, 2019
    Introduced in House


  • May 22, 2019
    Referred to the House Committee on Ways and Means.
Barbara Lee

Barbara Lee

Democratic Representative

California

Cosponsors (33)
John Garamendi (Democratic)Jared Huffman (Democratic)Raúl M. Grijalva (Democratic)Mark Pocan (Democratic)Debra A. Haaland (Democratic)Ilhan Omar (Democratic)Bobby L. Rush (Democratic)Andy Levin (Democratic)Steve Cohen (Democratic)John P. Sarbanes (Democratic)Rosa L. DeLauro (Democratic)Adriano Espaillat (Democratic)Ted Lieu (Democratic)Ro Khanna (Democratic)Alan S. Lowenthal (Democratic)Mark Takano (Democratic)Pramila Jayapal (Democratic)Eleanor Holmes Norton (Democratic)Bonnie Watson Coleman (Democratic)Mary Gay Scanlon (Democratic)Tulsi Gabbard (Democratic)Jamie Raskin (Democratic)Janice D. Schakowsky (Democratic)James P. McGovern (Democratic)Alexandria Ocasio-Cortez (Democratic)Yvette D. Clarke (Democratic)Zoe Lofgren (Democratic)Jesús G. "Chuy" García (Democratic)Rashida Tlaib (Democratic)Ayanna Pressley (Democratic)Alcee L. Hastings (Democratic)Chellie Pingree (Democratic)Judy Chu (Democratic)

Ways and Means Committee

Taxation

Related Bills

  • S 116-1587: Inclusive Prosperity Act of 2019
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Financial services and investmentsGovernment information and archivesIncome tax creditsSales and excise taxesSecuritiesTax administration and collection, taxpayers