3.0.0
4919
2024-11-23T09:05:23Z
2024-11-23T09:05:23Z
House
H
HR
2023-07-26
118
[Congressional Record Volume 169, Number 129 (Wednesday, July 26, 2023)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. LEE of California:H.R. 4919.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 18 of the ConstitutionThe single subject of this legislation is:This bill creates a self-adjusting wealth tax that isdetermined based off the median household wealth asdetermined by the U.S. Treasury.[Page H4032]
- hswm00
Ways and Means Committee
House
Standing
  - Referred to
2023-07-26T14:04:20Z
- 2023-07-26
Referred to the House Committee on Ways and Means.
IntroReferral
H11100
2
House floor actions
  - hswm00
Ways and Means Committee
- 2023-07-26
Introduced in House
IntroReferral
Intro-H
9
Library of Congress
- 2023-07-26
Introduced in House
IntroReferral
1000
9
Library of Congress
- L000551
Rep. Lee, Barbara [D-CA-12]
BARBARA
LEE
D
CA
12
N
- L000602
Rep. Lee, Summer L. [D-PA-12]
Summer
Lee
D
PA
L.
12
2023-07-26
True
- T000481
Rep. Tlaib, Rashida [D-MI-12]
Rashida
Tlaib
D
MI
12
2023-07-26
True
- B001223
Rep. Bowman, Jamaal [D-NY-16]
Jamaal
Bowman
D
NY
16
2023-07-26
True
- G000586
Rep. Garcia, Jesus G. "Chuy" [D-IL-4]
Jesus
Garcia
D
IL
G.
4
2023-07-26
True
- G000551
Rep. Grijalva, Raúl M. [D-AZ-7]
Raúl
Grijalva
D
AZ
M.
7
2023-07-26
True
- N000002
Rep. Nadler, Jerrold [D-NY-12]
JERROLD
NADLER
D
NY
12
2023-07-26
True
- O000173
Rep. Omar, Ilhan [D-MN-5]
Ilhan
Omar
D
MN
5
2023-07-26
True
- H001068
Rep. Huffman, Jared [D-CA-2]
Jared
Huffman
D
CA
2
2023-07-26
True
- W000822
Rep. Watson Coleman, Bonnie [D-NJ-12]
Bonnie
Watson Coleman
D
NJ
12
2023-07-26
True
- R000606
Rep. Raskin, Jamie [D-MD-8]
Jamie
Raskin
D
MD
8
2023-07-26
True
- B001224
Rep. Bush, Cori [D-MO-1]
Cori
Bush
D
MO
1
2023-07-27
False
- F000477
Rep. Foushee, Valerie P. [D-NC-4]
Valerie
Foushee
D
NC
P.
4
2023-08-08
False
- D000623
Rep. DeSaulnier, Mark [D-CA-10]
Mark
DeSaulnier
D
CA
10
2023-08-08
False
- N000147
Del. Norton, Eleanor Holmes [D-DC-At Large]
ELEANOR
NORTON
D
DC
HOLMES
0
2023-08-08
False
- S001145
Rep. Schakowsky, Janice D. [D-IL-9]
JANICE
SCHAKOWSKY
D
IL
D.
9
2023-09-12
False
- D000631
Rep. Dean, Madeleine [D-PA-4]
Madeleine
Dean
D
PA
4
2023-09-12
False
- F000476
Rep. Frost, Maxwell [D-FL-10]
Maxwell
Frost
D
FL
10
2023-09-12
False
- P000618
Rep. Porter, Katie [D-CA-47]
Katie
Porter
D
CA
47
2023-11-13
False
- S001226
Rep. Salinas, Andrea [D-OR-6]
Andrea
Salinas
D
OR
6
2023-11-21
False
- C001131
Rep. Casar, Greg [D-TX-35]
Greg
Casar
D
TX
35
2024-03-15
False
- R000617
Rep. Ramirez, Delia C. [D-IL-3]
Delia
Ramirez
D
IL
C.
3
2024-11-13
False
- M000312
Rep. McGovern, James P. [D-MA-2]
James
McGovern
D
MA
P.
2
2024-11-22
False
Taxation
Taxation
2023-08-28T14:45:19Z
00
2023-07-26
Introduced in House
2023-10-16T14:06:29Z
Oligarch Act of 2023
This bill imposes a tax on the net value of all taxable assets of a taxpayer as of the last day of any calendar year (wealth tax). The amount of such tax is equal to certain percentages of the net value of all taxable assets of the taxpayers that exceed a specified threshold amount. The bill defines net value of all taxable assets as the excess of the value of all property of the taxpayer, real or personal, tangible or intangible, wherever situated, over any debts (including secured debts) owed by the taxpayer. The definition excludes property with a value of $50,000 or less, tangible personal property, certain property used in a trade or business, or collectibles.
The Internal Revenue Service (IRS) must report on the net value of assets subject to the wealth tax within one year after the enactment of this bill and must annually audit not less than 30% of taxpayers required to pay the tax. The IRS may extend payment of the tax for a reasonable period (not to exceed 5 years) for taxpayers with severe liquidity constraints or for whom immediate payment would impose an undue hardship.
The bill provides for enhanced penalties for understatements of the value of property subject to the wealth tax.

Oligarch Act of 2023
- Display Title
45

Oligarch Act of 2023
2024-06-11T15:39:57Z
- Short Title(s) as Introduced
101

Oligarch Act of 2023
2024-05-24T13:37:21Z
Introduced in House
IH
- Official Title as Introduced
6

To amend the Internal Revenue Code of 1986 to establish a wealth tax, and for other purposes.
2024-03-18T21:13:47Z
Introduced in House
IH
- Introduced in House
2023-07-26T04:00:00Z
  - https://www.govinfo.gov/content/pkg/BILLS-118hr4919ih/xml/BILLS-118hr4919ih.xml
2023-07-26
Referred to the House Committee on Ways and Means.
text/xml
EN
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