CONGRESS FOR VOTERS

DemocratBill · H.R. 5336· House(119-HR-5336)

Equal Tax Act

Rep. Ramirez
Age: 43 years
Illinois
Introduced
9/11/2025
Last activity
9/11/2025 — Referred to the House Committee on Ways and Means.
Sponsored by
Delia Ramirez
Cosponsors
Democrat - 17Republican - 0
Taxation
  1. Introduced
  2. In Committee

What this bill would do

This bill proposes changes to how capital gains, dividends, and certain incomes are taxed under the Internal Revenue Code of 1986. It limits preferential tax rates for dividends and capital gains to incomes of $1,000,000 or less as outlined in Section 2. The legislation treats property transferred by gift or at death as if it were sold for its fair market value, with specific exceptions detailed in Section 3. Section 4 provides an exclusion of certain amounts of realized capital gain from transfers at death. Additionally, Section 6 allows for a 5-year installment payment plan for capital gains tax owed due to a taxpayer's death. Finally, Section 7 and Section 8 place limitations on like-kind exchanges and the deduction for qualified business income.

Yes· 3 of 10

  • Does this raise taxes on the highest earners?+8

    The bill limits preferential tax rates for dividends and capital gains to incomes of $1,000,000 or less, effectively increasing taxes on high-income earners.

  • Does this reduce what the federal government owes?+5

    By eliminating certain capital gains preferences and taxing unrealized gains at death, federal revenues are projected to increase.

  • Does this make the government pay for what it commits to?+4

    The legislation closes tax loopholes related to estate transfers and capital gains preferences.

The opposite· 3 of 13

  • Would the very wealthiest people be better off under this?-10

    Ultra-high-net-worth individuals face severe tax increases due to the removal of capital gains preferences above $1,000,000 and deemed realization at death.

  • Would billionaires be better off under this?-10

    Billionaires are directly targeted by the removal of capital asset tax loopholes and the imposition of realization rules at death.

  • Would people with substantial wealth be better off under this?-9

    High-net-worth individuals are heavily impacted by the elimination of step-up in basis and taxes on gifts and bequests.