H.R. 2923: Inclusive Prosperity Act of 2019

116th Congress · introduced 2019-05-22 · Taxation · Latest: Referred to the House Committee on Ways and Means.

federal

Follow this bill, step by step

Where it came from: introduced 2019-05-22 · official record
Who proposed it: Rep. Lee, Barbara [D-CA-13] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the House Committee on Ways and Means. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Inclusive Prosperity Act of 2019

Plain summary

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.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Inclusive Prosperity Act of 2019

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

Arguments for (supporters)

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Arguments against (opponents)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Lee, Barbara [D-CA-13] · 33 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Eleanor Holmes Norton (D-DC), Mark Takano (D-CA), Ro Khanna (D-CA), Steve Cohen (D-TN), Pramila Jayapal (D-WA), Rosa L. DeLauro (D-CT), Ilhan Omar (D-MN), James P. McGovern (D-MA), Jared Huffman (D-CA), Mark Pocan (D-WI), Janice D. Schakowsky (D-IL), Chellie Pingree (D-ME), Adriano Espaillat (D-NY), Rashida Tlaib (D-MI), John Garamendi (D-CA), Mary Gay Scanlon (D-PA), Zoe Lofgren (D-CA), Bonnie Watson Coleman (D-NJ), Ted Lieu (D-CA), Yvette D. Clarke (D-NY), Jesús G. "Chuy" García (D-IL), Alexandria Ocasio-Cortez (D-NY), Ayanna Pressley (D-MA), Jamie Raskin (D-MD), Judy Chu (D-CA)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (3)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Bond: A way to borrow money. A government sells bonds to raise money now and promises to pay it back with interest over time. Bonds repaid from taxes often need voter approval.
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-116hr2923.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/116/hr>

Record fed-us-cong116-hr2923 · catalog fed-us-congress-bills-cong116 · updated 2026-11-15 by psicol fed-bills-cong116