Loading…
Babies over Billionaires Act of 2022
Legislative Progress
Momentum (last 30 days)
0
score
0 actions · 0 new cosponsors · 0 votes
Speed vs cohort
0pct
0d open
vs 9,698 other HR bills in the 117th — cohort avg 63d
Babies over Billionaires Act of 2022 This bill sets forth a special tax rule that requires the realization (i.e., deemed sold) at the end of the taxable year of the gains and losses of the publicly traded and private securities of taxpayers whose net worth exceeds $100 million. It limits the tax liability of such taxpayers to 35% of the amount by which their net worth exceeds $100 million at the end of the taxable year. The Internal Revenue Service must annually audit taxpayers whose net worth exceeds $100 million in the current taxable year and any of the 3 preceding taxable years and impose a penalty of 20% of understatements of tax (40% if understatements are due to failure to report an asset). The bill establishes the Family Investment Trust Fund to hold tax revenues generated by this bill for programs to support family well-being and the development of children.
These links require the bill number to appear in the filing's source-reported specific issue text. Client expenses and lobbying-firm income are separate disclosure fields.
Filing registrants (7)
2022 · fourth_quarter · Financial Institutions/Investments/Securities
Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced in House
Congress.gov source codes: 1000, Intro-H
Bills with similar content found using semantic analysis.
Sources: Congress.gov
H.R.8558, Billionaire Minimum Income Tax Act, Entirety Monitor H.R.7502, Babies Over Billionaires Act, Entirety
Client expense: $380,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES
2022 · fourth_quarter · Taxation/Internal Revenue Code
Public Law 117-328, Consolidated Appropriations Act, FY2023, Child Tax Credit; SALT issues H.R.8558, Billionaire Minimum Income Tax Act, Entirety H.R.6847, Supporting Americans with Lower Taxes Act "SALT Act", Entirety S.1157, Tax Fairness for Workers Act, Entirety Public Law 117-169, Inflation Reduction Act, SALT related issues S.4192, No Tax for Union Busting (NTBUB) Act, Entirety Monitor the following: H.R.7502, Babies Over Billionaires Act, Entirety Teacher Tax Deductions Public Law 117-169, Inflation Reduction Act, IRS Enforcement; Stock Buybacks; Corporate Profits Minimum Tax (CPMT); Child Care Tax Credits; Carried Interest; Stepped up basis; International tax reform provisions; Corporate rate; Capital gains; and Clean Energy tax credits/Direct Pay Public Law 117-2, American Rescue Plan Act of 2021, Child Tax credit Capital gains tax related issues
Client expense: $380,000 · Firm income: Not reported
Government targets: Executive Office of the President (EOP), HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Taxation/Internal Revenue Code
Lobbied to increase funding for the IRS and better target IRS tax enforcement. Lobbied for H.R. 1786 and S. 725, a bill to end offshore corporate tax avoidance, and for other purposes, known as the "No Tax Breaks for Outsourcing Act." Lobbied for S. 994, a bill to reinstate estate and generation-skipping taxes, and for other purposes, known as the "For the 99.5% Act." Lobbied for H.R. 3007 and S. 1545, the "Disclosure of Tax Havens and Offshoring Act," require large, publicly traded corporations to disclose high level financial information (i.e., profits, revenues, taxes, number of employees, and assets) on a country-by-country basis to shine a spotlight on tax avoidance strategies and contribute to a fair and transparent tax system. Lobbied for H.R. 7502, the "Babies Over Billionaires Act" to make the ultra-wealthy pay their fair share of taxes to fund federal education and health programs. Lobbied in support of new tax revenues in the "Inflation Reduction Act." Lobbied to ensure workers at the U.S. Mint have a safe workplace where they are treated equitably and fairly.
Client expense: $460,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Taxation/Internal Revenue Code
H.R.7502 - Babies over Billionaires Act of 2022 - in support H.R.8558 - Billionaire Minimum Income Tax Act -- in support
Client expense: Not reported · Firm income: $10,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Taxation/Internal Revenue Code
HR 1785, S 714- International tax incentives for outsourcing and rates, No Tax Breaks for Outsourcing Act HR 2576, S 994- Estate Taxes, For the 99.5% Act S 510, HR 1459- Ultra-millionaire Tax Act of 2021 HR 3805, S 2028- Millionaires Surtax Act HR 2617, HR 1068, S 1598- Carried interest tax loophole HR 7502- Babies Over Billionaires Act HR 8558- Billionaire Minimum Income Tax Individual taxes- Surtax, increase rates on high income, raise top rate to 39.6%, close loopholes, Mark to Market Corporate tax- higher rates, close loopholes, raise revenue S 2680, HR 4940- Corporate tax- Minimum rate (e.g. 15%), Real Corporate Profits Tax Act of 2021 HR 6847- Individualized itemized tax deduction for SALT, Supporting Americans with Lower Taxes Act (SALT Act) Earned Income Tax Credit (EITC), Child Tax Credit (CTC) HR 2549, S 1157- Tax Fairness for Workers Act, Individual tax deduction for union dues S 4192, HR 8448- No Tax Breaks for Union Busting Act General Business Tax Credits refundability Tax Extenders General, R & D Tax Credit, Refundable NOL Carryover Opportunity Zone Reform Act S 4508, HR 8368- Simplifying Federal Tax Filing Procedures, Tax Filing Simplification Act
Client expense: $540,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Taxation/Internal Revenue Code
1. Proposals regarding the deduction of medical expenses under the tax code 2. IRS enforcement and resources for enforcement of the Internal Revenue Code 3. S. 994, A bill to amend the Internal Revenue Code of 1986 to reinstate estate and generation-skipping taxes, and for other purposes, entire bill 4. H.R. 2576, A bill to amend the Internal Revenue Code of 1986 to reinstate estate and generation-skipping taxes, and for other purposes, entire bill 5. Administration prosposals for tax code amendments regarding personal income taxation rates 6. Proposals for electric vehicle tax credits 7. H.R. 7502, Babies Over Billionaires Act, entire bill 8. H.R. 8558, Billionaire Minimum Income Tax Act, entire bill 9. S.1157, Tax Fairness for Workers Act, entire bill
Client expense: $70,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · third_quarter · Taxation/Internal Revenue Code
H.R.7502, Babies Over Billionaires Act, Entirety H.R.8558, Billionaire Minimum Income Tax Act, Entirety H.R.6847, Supporting Americans with Lower Taxes Act "SALT Act", Entirety S.1157, Tax Fairness for Workers Act, Entirety Public Law 117-169, Inflation Reduction Act, SALT related issues Monitor the following: Teacher Tax Deductions Public Law 117-169, Inflation Reduction Act, IRS Enforcement; Stock Buybacks; Corporate Profits Minimum Tax (CPMT); Child Care Tax Credits; Carried Interest; Stepped up basis; International tax reform provisions; Corporate rate; Capital gains; and Clean Energy tax credits/Direct Pay Public Law 117-2, American Rescue Plan Act of 2021, Child Tax credit Capital gains tax related issues Untaxed gains/millionaires income tax proposals, including Biden FY2022 Budget
Client expense: $370,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · third_quarter · Financial Institutions/Investments/Securities
H.R.7502, Babies Over Billionaires Act, Entirety H.R.8558, Billionaire Minimum Income Tax Act, Entirety
Client expense: $370,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES
2022 · third_quarter · Taxation/Internal Revenue Code
Lobbied to increase funding for the IRS and better target IRS tax enforcement. Lobbied for H.R. 1786 and S. 725, a bill to end offshore corporate tax avoidance, and for other purposes, known as the "No Tax Breaks for Outsourcing Act." Lobbied for S. 994, a bill to reinstate estate and generation-skipping taxes, and for other purposes, known as the "For the 99.5% Act." Lobbied for H.R. 3007 and S. 1545, the "Disclosure of Tax Havens and Offshoring Act," require large, publicly traded corporations to disclose high level financial information (i.e., profits, revenues, taxes, number of employees, and assets) on a country-by-country basis to shine a spotlight on tax avoidance strategies and contribute to a fair and transparent tax system. Lobbied for H.R. 7502, the "Babies Over Billionaires Act" to make the ultra-wealthy pay their fair share of taxes to fund federal education and health programs. Lobbied in support of new tax revenues in the Inflation Reduction Act.
Client expense: $450,000 · Firm income: Not reported
2022 · third_quarter · Taxation/Internal Revenue Code
1. Proposals regarding the deduction of medical expenses under the tax code 2. IRS enforcement and resources for enforcement of the Internal Revenue Code 3. S. 994, A bill to amend the Internal Revenue Code of 1986 to reinstate estate and generation-skipping taxes, and for other purposes, entire bill 4. H.R. 2576, A bill to amend the Internal Revenue Code of 1986 to reinstate estate and generation-skipping taxes, and for other purposes, entire bill 5. Administration prosposals for tax code amendments regarding personal income taxation rates 6. Proposals for electric vehicle tax credits 7. H.R. 7502, Babies Over Billionaires Act, entire bill 8. H.R. 8558, Billionaire Minimum Income Tax Act, entire bill
Client expense: $70,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · third_quarter · Taxation/Internal Revenue Code
Billionaires Surtax- various proposals Individual taxes- Surtax, increase rates on high income, return top rate to 39.6%, close loopholes, Mark to Market Corporate tax rates, close loopholes Supporting Americans with Lower Taxes (SALT) Act Earned income tax credits, child tax credits HR 2549, S 1157- Tax Fairness for Workers Act, Individual tax deduction for union dues S 4192, HR 8448- No Tax Breaks for Union Busting Act HR 2337- Public Servants Protection and Fairness Act of 2021 Tax Filing Simplification Act HR 5376, HR 1785, S 714- International tax incentives for outsourcing and rates, No Tax Breaks for Outsourcing Act HR 5376, HR 2576, S 994- Estate Taxes, For the 99.5% Act HR 5376, S 510, HR 1459- Ultra-Millionaire Tax Act of 2021 HR 3805, S 2028- Millionaires Surtax Act HR 5376, S 2617, HR 1068, S 1598- Carried interest tax loophole HR 7502- Babies Over Billionaires Act HR 8558- Billionaire Minimum Income Tax Deemed realization (1 time) at death/transfer for large assets (e.g. >$1 B) HR 2286- Deemed Realization of capital gains HR 5376, HR 1116, HR 1200, S 1857, S 1788- Increase funds for IRS tax enforcement and services, IRS Enhancement and Tax Gap Reduction Act of 2021, Stop CHEATERS Act, Restoring the IRS Act S 1652- Paying a Fair Share Act Close NIIT and SECA tax loopholes- use revenue for Medicare HR 5376, S 2680, HR 4940- Corporate tax: minimum rate (e.g. 15%), Real Corporate Profits Tax Act of 2021 General Business Tax Credits refundability Tax extenders General, R&D Tax Credit, Refundable NOL Carryover Opportunity Zone Reform Act
Client expense: $470,000 · Firm income: Not reported
2022 · third_quarter · Taxation/Internal Revenue Code
H.R.7502 - Babies over Billionaires Act of 2022 - in support. H.R.8558 - Billionaire Minimum Income Tax Act -- in support.
Client expense: Not reported · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · second_quarter · Taxation/Internal Revenue Code
H.R.7502, Babies Over Billionaires Act H.R.6847, Supporting Americans with Lower Taxes Act "SALT Act", Entirety S.1157, Tax Fairness for Workers Act, Entirety Reconciliation bill Child Tax Credits, Carried interest, Stepped up basis; and SALT related issues Monitor the following: Teacher Tax Deductions Reconciliation bill, IRS Enforcement; Stock Buybacks; Corporate Profits Minimum Tax (CPMT); Child Care Tax Credits; International tax reform provisions; Corporate rate, and Capital gains Public Law 117-2, American Rescue Plan Act of 2021, Child Tax credit Capital gains tax related issues Untaxed gains/millionaires income tax proposals, including Biden FY2022 Budget
Client expense: $350,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · second_quarter · Financial Institutions/Investments/Securities
H.R.7502, Babies Over Billionaires Act Monitor the following: Untaxed gains/millionaires income tax proposals, including Biden FY2022 Budget Free‐Market Accountability Through Investor Rights (FAIR) Act
Client expense: $350,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES
2022 · second_quarter · Taxation/Internal Revenue Code
H.R.7502 - Babies over Billionaires Act of 2022 - in support.
Client expense: Not reported · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · second_quarter · Taxation/Internal Revenue Code
Lobbied to increase funding for the IRS and better target IRS tax enforcement. Lobbied for H.R. 1786 and S. 725, a bill to end offshore corporate tax avoidance, and for other purposes, known as the "No Tax Breaks for Outsourcing Act." Lobbied for S. 994, a bill to reinstate estate and generation-skipping taxes, and for other purposes, known as the "For the 99.5% Act." Lobbied for H.R. 3007 and S. 1545, the "Disclosure of Tax Havens and Offshoring Act," require large, publicly traded corporations to disclose high level financial information (i.e., profits, revenues, taxes, number of employees, and assets) on a country-by-country basis to shine a spotlight on tax avoidance strategies and contribute to a fair and transparent tax system. Lobbied for H.R. 7502, the Babies Over Billionaires Act to make the ultra-wealthy pay their fair share of taxes to fund federal education and health programs. Lobbied in support of $3.6 trillion in new tax revenues outlined in President Biden's Made in America Tax Plan to finance the important investments included in the American Jobs Plan and the American Families Plan.
Client expense: $430,000 · Firm income: Not reported
2022 · second_quarter · Taxation/Internal Revenue Code
Lobbied to increase funding for the IRS and better target IRS tax enforcement. Lobbied for H.R. 1786 and S. 725, a bill to end offshore corporate tax avoidance, and for other purposes, known as the "No Tax Breaks for Outsourcing Act." Lobbied for S. 994, a bill to reinstate estate and generation-skipping taxes, and for other purposes, known as the "For the 99.5% Act." Lobbied for H.R. 3007 and S. 1545, the "Disclosure of Tax Havens and Offshoring Act," require large, publicly traded corporations to disclose high level financial information (i.e., profits, revenues, taxes, number of employees, and assets) on a country-by-country basis to shine a spotlight on tax avoidance strategies and contribute to a fair and transparent tax system. Lobbied for H.R. 7502, the Babies Over Billionaires Act to make the ultra-wealthy pay their fair share of taxes to fund federal education and health programs. Lobbied in support of $3.6 trillion in new tax revenues outlined in President Biden's Made in America Tax Plan to finance the important investments included in the American Jobs Plan and the American Families Plan.
Client expense: $430,000 · Firm income: Not reported
2022 · second_quarter · Taxation/Internal Revenue Code
Biden Made in America Tax Plan Billionaires Surtax, various proposals Windfall Elimination Tax proposals HR 5376, HR 1785, S 714- international tax incentives for outsourcing and rates No Tax Breaks for Outsourcing Act HR 5376, HR 2576, S 994- Estate Tax Reform For the 99.5% Act HR 5376, S 510, HR 1459- Ultra-Millionaire Tax Act of 2021 HR 3805, S 2028- Millionaires Surtax Act HR 5376, S 2617, HR 1068, S 1598- Carried interest tax loophole various bills- Taxing Millionaires and Billionaires various bills- Corporate Tax Reform Earned income tax credits, child tax credits HR 2549, S 1157- Individual tax deduction for union dues S 4192- No Tax Breaks for Union Busting Act S 3701- Social Security 2100: A Sacred Trust, GPO/WEP HR 2337- Public Servants Protection and Fairness Act of 2021 HR 7502- Babies over Billionaires Act Billionaire Minimum Income Tax Deemed realization (1 time) at death/transfer for large assets (e.g. >$1B) HR 2286- Deemed Realization of capital gains HR 5376, HR 1116- Increase funds for IRS for tax enforcement and services HR 1200, S 1857, S 1788- IRS Enhancement and Tax Gap Reduction Act of 2021; Stop CHEATERS Act; Restoring the IRS Act S 1652- Paying a Fair Share Act Individual taxes- Surtax, increase rates on high income, return top rate to 39.6%, close loopholes, Mark to Market Close NIIT and SECA tax loopholes- use revenue for Medicare Corporate tax- higher rates, close loopholes, raise revenue, Minimum tax (e.g. 15%) S 2680, HR 4940- Real Corporate Profits Tax Act of 2021 HR 6847- Individual itemized tax deduction for SALT, Supporting Americans with Lower Taxes (SALT) Act Tax Fairness for Workers Act General Business Tax Credits refundability Tax extenders, R&D Tax Credit, Refundable NOL Carryover Opportunity Zone Reform Act Simplifying Federal Tax Filing Procedures, Tax Filing Simplification Act HR 3802, HR 7061- Big Oil Windfall Profits Tax Space Tax Act
2022 · second_quarter · Taxation/Internal Revenue Code
H.R. 7502: Babies over Billionaires Act of 2022; S. 4192: No Tax Breaks for Union Busting (NTBUB) Act
Client expense: $10,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · second_quarter · Taxation/Internal Revenue Code
1. Proposals regarding the deduction of medical expenses under the tax code 2. IRS enforcement and resources for enforcement of the Internal Revenue Code 3. S. 994, A bill to amend the Internal Revenue Code of 1986 to reinstate estate and generation-skipping taxes, and for other purposes, entire bill 4. H.R. 2576, A bill to amend the Internal Revenue Code of 1986 to reinstate estate and generation-skipping taxes, and for other purposes, entire bill 5. Administration prosposals for tax code amendments regarding personal income taxation rates 6. Proposals for electric vehicle tax credits 7. H.R. 7502, Babies Over Billionaires Act, entire bill
Client expense: $80,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · first_quarter · Taxation/Internal Revenue Code
Revenues in Build Back Better; H.R. 7502, Babies over Billionaires Act of 2022; Billionaires Income Tax; S. 2028, Millionaires Surtax Act; H.R. 1785/S. 714, No Tax Breaks for Outsourcing Act; H.R. 2286, To amend the Internal Revenue Code of 1986 to treat property transferred by gift or at death as sold for fair market value, and for other purposes; S. ___, To amend the Internal Revenue Code of 1986 to impose a surtax on high income individual; IRS enforcement.
Client expense: $50,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
| Democratic |
| IL |
| Dwight Evans | Democratic | PA |
| Eleanor Holmes Norton | Democratic | DC |
| James P. McGovern | Democratic | MA |
| Janice D. Schakowsky | Democratic | IL |
| Katie Porter | Democratic | CA |
| Mondaire Jones | Democratic | NY |
| Rashida Tlaib | Democratic | MI |
| Susan Wild | Democratic | PA |
| Yvette D. Clarke | Democratic | NY |
Government targets: HOUSE OF REPRESENTATIVES, SENATE
Government targets: HOUSE OF REPRESENTATIVES, SENATE, White House Office
Government targets: HOUSE OF REPRESENTATIVES, SENATE
Government targets: HOUSE OF REPRESENTATIVES, SENATE
Client expense: $510,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of, White House Office