H.R. 8558: Billionaire Minimum Income Tax Act

117th Congress · introduced 2022-07-28 · Taxation · Latest: Referred to the House Committee on Ways and Means.

federal

Follow this bill, step by step

Where it came from: introduced 2022-07-28 · official record
Who proposed it: Rep. Cohen, Steve [D-TN-9] · 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

Billionaire Minimum Income Tax Act

Plain summary

Billionaire Minimum Income Tax Act This bill imposes a minimum tax on individual taxpayers whose net worth for the taxable year exceeds $100 million. The tax is equal to 20% of the sum of a taxpayer's taxable income, plus net unrealized gains for the taxable year. The tax may not exceed 40% of the amount by which the taxpayer's net worth exceeds $100 million.

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

Billionaire Minimum Income Tax Act

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

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

Officials and money

Sponsor: Rep. Cohen, Steve [D-TN-9] · 55 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Donald S. Beyer, Jr. (D-VA), André Carson (D-IN), Rosa L. DeLauro (D-CT), Dwight Evans (D-PA), Bill Foster (D-IL), Jesús G. "Chuy" García (D-IL), Betty McCollum (D-MN), Jerrold Nadler (D-NY), Janice D. Schakowsky (D-IL), Nanette Diaz Barragán (D-CA), Jimmy Gomez (D-CA), Eleanor Holmes Norton (D-DC), Rashida Tlaib (D-MI), Bonnie Watson Coleman (D-NJ), Peter Welch (D-VT), John Garamendi (D-CA), Danny K. Davis (D-IL), James P. McGovern (D-MA), Yvette D. Clarke (D-NY), Brendan F. Boyle (D-PA), Stacey E. Plaskett (D-VI), Mark Takano (D-CA), Seth Moulton (D-MA), Mark DeSaulnier (D-CA), Adam B. Schiff (D-CA), Robin L. Kelly (D-IL), Mary Gay Scanlon (D-PA), Judy Chu (D-CA), Lori Trahan (D-MA), Ilhan Omar (D-MN), Mark Pocan (D-WI), Dina Titus (D-NV), Ted Lieu (D-CA), Alexandria Ocasio-Cortez (D-NY), John B. Larson (D-CT), Troy A. Carter (D-LA), Nikema Williams (D-GA), Madeleine Dean (D-PA), Linda T. Sánchez (D-CA)

Sponsor's campaign money: Rep. Cohen, Steve [D-TN-9] reported raising $785,039 (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

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 (1)

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).

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-117hr8558.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/117/hr>

Record fed-us-cong117-hr8558 · catalog fed-us-congress-bills-cong117 · updated 2026-11-15 by psicol fed-bills-cong117