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H.R. 609: Assuring Medicare’s Promise Act of 2025

119th Congress · introduced 2025-01-22 · Taxation · Latest: Referred to the House Committee on Ways and Means.

federal

What does this mean?

Official title

Assuring Medicare’s Promise Act of 2025

Plain summary

Assuring Medicare’s Promise Act of 2025 This bill increases the net investment tax for certain taxpayers and appropriates revenue from the net investment tax to the Federal Hospital Insurance Trust Fund (which finances Medicare Part A). The bill also requires the Internal Revenue Service (IRS) to issue additional guidance on the net investment tax. The bill requires individuals with a modified adjusted gross income (MAGI) exceeding $400,000 ($500,000 for joint filers and $250,000 for married individuals filing separately), estates, and trusts to pay a tax of 3.8% on the greater of their specified net income or net investment income, subject to limitations. (Under current law, individuals with a MAGI exceeding $200,000 [or $250,000 for joint filers], estates, and trusts pay a 3.8% tax on net investment income.) The bill defines specified net income by expanding the definition of net investment income to include gross income from any trade or business (unless subject to employment taxes), including interest, dividends, annuities, royalties, and rents; include net gain from the disposition of business property; eliminate the exclusion of income from the investment of working capital; and eliminate the exception related to certain active partnership or S corporation interests. The bill also expands the net investment tax definition of a trade or business , disallows net operating losses in calculating net investment income, includes certain foreign-sourced income in net investment income, and requires the IRS to issue guidance on the treatment of certain corporate distributions for purposes of the net investment tax.

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

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What does this mean? (plain words)

Official text

Assuring Medicare’s Promise Act of 2025

Source: Congressional Research Service summary (Introduced in House)

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Officials and money

Sponsor: Rep. Doggett, Lloyd [D-TX-37] · 57 cosponsors

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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

Record fed-us-cong119-hr609 · catalog fed-us-congress-bills-cong119 · updated 2026-11-03 by psicol fed-bills