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Titles (1)

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To reduce the deficit by imposing a minimum effective tax rate for high-income taxpayers.


Actions Overview (1)

Date Actions Overview
07/30/2020Introduced in House

All Actions (3)

Date All Actions
07/30/2020Referred to the Subcommittee on Select Revenue Measures.
Action By: Committee on Ways and Means
07/30/2020Referred to the House Committee on Ways and Means.
Action By: House of Representatives
07/30/2020Introduced in House
Action By: House of Representatives

Cosponsors (5)

* = Original cosponsor
CosponsorDate Cosponsored
Rep. Norton, Eleanor Holmes [D-DC-At Large]* 07/30/2020
Rep. Langevin, James R. [D-RI-2]* 07/30/2020
Rep. Khanna, Ro [D-CA-17]* 07/30/2020
Rep. Pocan, Mark [D-WI-2]* 07/30/2020
Rep. Trone, David J. [D-MD-6] 10/01/2020

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Ways and Means07/30/2020 Referred to
House Ways and Means Subcommittee on Select Revenue Measures07/30/2020 Referred to

A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-congress measures.


Latest Summary (1)

There is one summary for H.R.7863. View summaries

Shown Here:
Introduced in House (07/30/2020)

Paying a Fair Share Act of 2019

This bill requires an individual taxpayer whose adjusted gross income exceeds $1 million (high-income taxpayer) to pay a minimum tax rate of 30% of the excess of the taxpayer's adjusted gross income over the taxpayer's modified charitable contribution deduction for the taxable year (tentative fair share tax). The amount of the tax is the excess (if any) of the tentative fair share tax over the excess of (1) the sum of the taxpayer's regular tax liability, the alternative minimum tax (AMT) amount, and the payroll tax for the taxable year; over (2) certain tax credits.

The bill provides for a phase-in of such tax and requires an inflation adjustment to the $1 million income threshold for taxable years beginning after 2020.

The bill also expresses the sense of the House of Representatives that Congress should enact tax reform that repeals unfair and unnecessary tax loopholes and expenditures, simplifies the tax system, and makes sure that the wealthiest taxpayers pay a fair share of taxes.