Bill · H.R. 609· House(119-HR-609)

Assuring Medicare’s Promise Act of 2025

Age: 80 years

Texas

Introduced: 1/22/2025
Last activity: 1/22/2025 — Referred to the House Committee on Ways and Means.
Sponsored by: Lloyd Doggett
Cosponsors: - 57 - 0

Taxation

Introduced
In Committee

What this bill would do

The Assuring Medicare's Promise Act of 2025 aims to amend the Social Security Act and the Internal Revenue Code of 1986. It seeks to include the net investment income tax within the Federal Hospital Insurance Trust Fund. Additionally, the bill modifies the net investment income tax regarding certain high-income individuals. These changes involve the application of the tax to trade or business income and specific adjustments for trusts and estates. The provisions regarding the trust fund and the tax modifications are set to take effect for taxable years beginning after December 31, 2025.

Yes· 3 of 6

Does this raise taxes on the highest earners?+6
The bill expands the net investment income tax to include certain trade or business income for high-income individuals.
Does this put more money into Medicare, the health coverage for people over 65?+5
The bill directs net investment income tax revenues into the Federal Hospital Insurance Trust Fund to support Medicare.
Would people over 65 be better off under this?+4
The bill increases funding for the Federal Hospital Insurance Trust Fund which supports Medicare for seniors.

The opposite

Would high-income households be better off under this?-7
The bill increases the tax burden on high-income individuals by including more trade or business income in the net investment income tax calculation.
Would people with substantial wealth be better off under this?-7
The bill modifies the tax treatment for trusts and estates to potentially increase the tax liability on undistributed income.