3.0.0 2923 2022-11-01T05:47:40Z 2022-11-01T05:47:40Z House HR 2019-05-22 116 [Congressional Record Volume 165, Number 86 (Wednesday, May 22, 2019)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. LEE of California:H.R. 2923.Congress has the power to enact this legislation pursuantto the following:This bill is enacted pursuant to the power granted toCongress under Article I of the United States Constitutionand its subsequent amendments, and further clarified andinterpreted by the Supreme Court of the United States.[Page H4120]]]> hswm00 Ways and Means Committee House Standing Referred to 2019-05-22T14:01:35Z Inclusive Prosperity Act of 2019 116 1587 S 2019-05-22 Read twice and referred to the Committee on Finance. Identical bill CRS 2019-05-22 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2019-05-22 Introduced in House IntroReferral Intro-H 9 Library of Congress 2019-05-22 Introduced in House IntroReferral 1000 9 Library of Congress L000551 Rep. Lee, Barbara [D-CA-13] BARBARA LEE D CA 13 N N000147 Del. Norton, Eleanor Holmes [D-DC-At Large] ELEANOR NORTON D DC HOLMES 0 2019-05-22 True T000472 Rep. Takano, Mark [D-CA-41] Mark Takano D CA 41 2019-05-22 True K000389 Rep. Khanna, Ro [D-CA-17] Ro Khanna D CA 17 2019-05-22 True C001068 Rep. Cohen, Steve [D-TN-9] Steve Cohen D TN 9 2019-05-22 True J000298 Rep. Jayapal, Pramila [D-WA-7] Pramila Jayapal D WA 7 2019-05-22 True D000216 Rep. DeLauro, Rosa L. [D-CT-3] ROSA DELAURO D CT 3 2019-05-22 True O000173 Rep. Omar, Ilhan [D-MN-5] Ilhan Omar D MN 5 2019-05-22 True M000312 Rep. McGovern, James P. [D-MA-2] JAMES MCGOVERN D MA P. 2 2019-05-22 True H001068 Rep. Huffman, Jared [D-CA-2] Jared Huffman D CA 2 2019-05-22 True P000607 Rep. Pocan, Mark [D-WI-2] Mark Pocan D WI 2 2019-05-22 True S001145 Rep. Schakowsky, Janice D. [D-IL-9] JANICE SCHAKOWSKY D IL D. 9 2019-05-22 True G000551 Rep. Grijalva, Raúl M. [D-AZ-3] Raúl Grijalva D AZ M. 3 2019-05-22 True P000597 Rep. Pingree, Chellie [D-ME-1] Chellie Pingree D ME 1 2019-05-22 True L000579 Rep. Lowenthal, Alan S. [D-CA-47] Alan Lowenthal D CA S. 47 2019-05-22 True G000571 Rep. Gabbard, Tulsi [D-HI-2] Tulsi Gabbard D HI 2 2019-05-22 True E000297 Rep. Espaillat, Adriano [D-NY-13] Adriano Espaillat D NY 13 2019-05-22 True T000481 Rep. Tlaib, Rashida [D-MI-13] Rashida Tlaib D MI 13 2019-05-22 True G000559 Rep. Garamendi, John [D-CA-3] John Garamendi D CA 3 2019-05-22 True H000324 Rep. Hastings, Alcee L. [D-FL-20] ALCEE HASTINGS D FL L. 20 2019-05-22 True H001080 Rep. Haaland, Debra A. [D-NM-1] Debra Haaland D NM A. 1 2019-06-03 False S001205 Rep. Scanlon, Mary Gay [D-PA-5] Mary Scanlon D PA Gay 5 2019-07-09 False L000397 Rep. Lofgren, Zoe [D-CA-19] ZOE LOFGREN D CA 19 2019-07-09 False W000822 Rep. Watson Coleman, Bonnie [D-NJ-12] Bonnie Watson Coleman D NJ 12 2019-07-23 False S001168 Rep. Sarbanes, John P. [D-MD-3] John Sarbanes D MD P. 3 2019-07-23 False L000582 Rep. Lieu, Ted [D-CA-33] Ted Lieu D CA 33 2019-07-23 False C001067 Rep. Clarke, Yvette D. [D-NY-9] Yvette Clarke D NY D. 9 2019-08-20 False G000586 Rep. Garcia, Jesus G. "Chuy" [D-IL-4] Jesus Garcia D IL G. 4 2019-10-15 False O000172 Rep. Ocasio-Cortez, Alexandria [D-NY-14] Alexandria Ocasio-Cortez D NY 14 2019-11-08 False P000617 Rep. Pressley, Ayanna [D-MA-7] Ayanna Pressley D MA 7 2020-01-24 False L000592 Rep. Levin, Andy [D-MI-9] Andy Levin D MI 9 2020-02-14 False R000515 Rep. Rush, Bobby L. [D-IL-1] BOBBY RUSH D IL L. 1 2020-02-21 False R000606 Rep. Raskin, Jamie [D-MD-8] Jamie Raskin D MD 8 2020-08-07 False C001080 Rep. Chu, Judy [D-CA-27] Judy Chu D CA 27 2020-10-27 False Taxation Financial services and investments Government information and archives Income tax credits Sales and excise taxes Securities Tax administration and collection, taxpayers Taxation 00 2019-05-22 Introduced in House 2019-06-21T15:13:12Z 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.

]]> Inclusive Prosperity Act of 2019 Display Title Inclusive Prosperity Act of 2019 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. Introduced in House IH Short Title(s) as Introduced Inclusive Prosperity Act of 2019 Introduced in House IH Introduced in House 2019-05-22T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr2923ih/xml/BILLS-116hr2923ih.xml 2019-05-22 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.