Paying a Fair Share Act of 2025

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 2534 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 2534 To ensure high-income earners pay a fair share of Federal taxes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES April 1, 2025 Mr. Boyle of Pennsylvania (for himself, Mr. Khanna, and Ms. Norton) introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To ensure high-income earners pay a fair share of Federal taxes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Paying a Fair Share Act of 2025''. SEC. 2. FAIR SHARE TAX ON HIGH-INCOME TAXPAYERS. (a) In General.--Subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new part: ``PART VIII--FAIR SHARE TAX ON HIGH-INCOME TAXPAYERS ``Sec. 59B. Fair share tax. ``SEC. 59B. FAIR SHARE TAX. ``(a) General Rule.-- ``(1) Phase-in of tax.--In the case of any high-income taxpayer, there is hereby imposed for a taxable year (in addition to any other tax imposed by this subtitle) a tax equal to the product of-- ``(A) the amount determined under paragraph (2), and ``(B) a fraction (not to exceed 1)-- ``(i) the numerator of which is the excess of-- ``(I) the taxpayer's adjusted gross income, over ``(II) the dollar amount in effect under subsection (c)(1), and ``(ii) the denominator of which is the dollar amount in effect under subsection (c)(1). ``(2) Amount of tax.--The amount of tax determined under this paragraph is an amount equal to the excess (if any) of-- ``(A) the tentative fair share tax for the taxable year, over ``(B) the excess of-- ``(i) the sum of-- ``(I) the regular tax liability (as defined in section 26(b)) for the taxable year