S.Amdt. 2513

This amendment adds a new hospital insurance tax on the trade or business income of certain high income individuals. It aims to change the law by imposing an additional tax equal to 3.8 percent of an individual's specified net income if their modified adjusted gross income exceeds a certain high income threshold amount.

The high income threshold amount is set at $400,000 generally, $500,000 for joint returns or surviving spouses, and half of the joint return amount for married taxpayers filing separately. The amendment also includes a phase-in of tax when the income exceeds the threshold by up to $100,000, applies rules to trusts and estates, clarifies net investment income and foreign income rules, and applies these changes to taxable years beginning after December 31, 2025.