Inclusive Prosperity Act of 2017
Latest action · Feb 16, 2017 Referred to the House Committee on Ways and Means.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedFeb 16, 2017
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Inclusive Prosperity Act of 2017
This bill amends the Internal Revenue Code to: (1) impose 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), or derivative financial instruments; (2) impose a penalty on taxpayers who fail to include a covered transaction on their tax return or information statement; and (3) allow 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.
Cosponsors 38
Members who signed on, in the order they did. Signatures ran from Feb 16, 2017 to Aug 10, 2018; 17 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-CA | Alan S. Lowenthal | Original | Feb 16, 2017 |
| D-CA | Barbara Lee | Original | Feb 16, 2017 |
| D-OR | Earl Blumenauer | Original | Feb 16, 2017 |
| D-TX | Eddie Bernice Johnson | Original | Feb 16, 2017 |
| D-DC | Eleanor Holmes Norton | Original | Feb 16, 2017 |
| D-MA | James P. McGovern | Original | Feb 16, 2017 |
| D-IL | Janice D. Schakowsky | Original | Feb 16, 2017 |
| D-MI | John Conyers, Jr. | Original | Feb 16, 2017 |
| D-MD | John P. Sarbanes | Original | Feb 16, 2017 |
| D-MA | Katherine M. Clark | Original | Feb 16, 2017 |
| D-NY | Louise McIntosh Slaughter | Original | Feb 16, 2017 |
| D-CA | Lucille Roybal-Allard | Original | Feb 16, 2017 |
| D-WI | Mark Pocan | Original | Feb 16, 2017 |
| D-CA | Mark Takano | Original | Feb 16, 2017 |
| D-AZ | Raúl M. Grijalva | Original | Feb 16, 2017 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Ways and Means Committee | Referred Feb 16, 2017 |
Actions 2
Everything that happened, newest first.
- Feb 16, 2017Introduced in House
- Feb 16, 2017Referred to the House Committee on Ways and Means.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 163, no. 28, February 16, 2017, page H1304.
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 805 | Inclusive Prosperity Act of 2017 | Related bill | Apr 3, 2017 |
| HR 1464 | Inclusive Prosperity Act of 2015 | Reintroduction of | Mar 19, 2015 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To impose a tax on certain trading transactions to invest in our families and communities, improve our infrastructure and our environment, strengthen our financial security, expand opportunity and reduce market volatility.
- Short Titles as Introduced
- Inclusive Prosperity Act of 2017
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Feb 16, 2017Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
