The "Paying a Fair Share Act of 2025" seeks to ensure that high-income earners pay a fair share of Federal taxes by establishing a new tax. This legislation introduces a "Fair Share Tax" that applies to non-corporate taxpayers whose adjusted gross income (AGI) exceeds $1,000,000 , with an inflation adjustment for subsequent years. The threshold is set at $500,000 for married individuals filing separate returns. The new tax is calculated as an additional levy, determined by taking 30 percent of the taxpayer's AGI above a modified charitable contribution deduction . From this amount, existing tax liabilities, including regular income tax, alternative minimum tax, and payroll taxes, are subtracted, along with certain allowable credits. The bill defines "payroll tax" to include specific taxes under sections 1401, 1411, 3101, 3201, and 3211(a), less any deduction for such taxes. This new tax provision will apply to taxable years beginning after December 31, 2024 . A "Sense of the Senate" statement accompanies the bill, emphasizing the need for comprehensive tax reform that eliminates loopholes, simplifies the system, and ensures the wealthiest taxpayers contribute equitably. The Act itself is presented as an interim step to quickly address tax fairness, reduce the deficit, and catalyze more fundamental changes to the tax system.