Pipeline · Bill → Law
Step 1
Introduced
Apr 18, 2023
Step 2
Referred
Apr 18, 2023
Finance
Step 3
Committee
Step 4
Senate
Step 5
House floor
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary
This bill increases funding for the Social Security and Medicare trust funds by extending the payroll tax on wages, self-employment income, and investment income to taxpayers with earnings exceeding $400,000. The bill also applies a payroll tax on the pass-through business income of taxpayers earning more than $400,000 (thus eliminating the classification of earned income as distributed business profits).
Timeline · 2 actions
Apr 18, 2023
Introduced in Senate
Apr 18, 2023
Read twice and referred to the Committee on Finance.