H.R. 34House118th Congress (2023-2025)In Committee

Assuring Medicare’s Promise Act of 2023

AI-Generated Summary

Updated January 20, 2026 at 1:47 AM UTC

The Assuring Medicare’s Promise Act of 2023 adds the net investment income tax (NIIT) to the Medicare Hospital Insurance Trust Fund and changes how that tax is calculated for high‑income taxpayers. It expands the tax to include certain trade or business income for individuals whose income exceeds set thresholds and updates rules for trusts, estates, and what counts as net investment income. The changes aim to generate additional revenue for Medicare and clarify tax treatment for high earners and certain foreign income.

Key Provisions

NIIT revenue is now reported as part of the Hospital Insurance Trust Fund, starting with tax years after Dec. 31, 2023.
For individuals with modified adjusted gross income above $400,000 (or $500,000 for joint filers, half that for separate returns), the tax applies to the greater of net investment income or a newly defined “specified net income,” with a phased‑in increase limited by a set ratio.
Trusts and estates must calculate the tax using the greater of undistributed specified net income or undistributed net investment income.
Clarifies that wages, self‑employment income, and foreign wages are excluded from net investment income.
Adds certain foreign income (sections 951, 951A, 1293, 1296) to the net investment income definition and requires Treasury guidance on treatment of previously taxed income.
All amendments become effective for taxable years beginning after Dec. 31, 2023, with transition rules for years on or before that date.

Legislative Activity

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2 earlier actions

HouseCommittee Latest Action

Referred to the Subcommittee on Health.

Health Subcommittee

December 17, 2024

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HouseIntro Referral

Introduced in House

January 9, 2023

HouseIntro Referral

Referred to the House Committee on Ways and Means.

Ways and Means Committee

January 9, 2023

HouseCommittee

Referred to the Subcommittee on Health.

Health Subcommittee

December 17, 2024

Floor Debate

1 member

What members said about H.R. 34 on the floor

1 Republican

Rep. Monica De La CruzR-TX-15 · Sep 12, 2023

Under clause 7 of rule XII, sponsors were added to public bills and resolutions, as follows: H.R. 16: Ms. Tokuda, Mr. Magaziner, Mr. Casten, Mr. Casar, Mr. Sherman, Ms. Caraveo, and Mr. Sablan. H.R.…

Under clause 7 of rule XII, sponsors were added to public bills and resolutions, as follows:

H.R. 16: Ms. Tokuda, Mr. Magaziner, Mr. Casten, Mr. Casar,

Mr. Sherman, Ms. Caraveo, and Mr. Sablan.

H.R. 33: Ms. Ross and Ms. Bonamici.

H.R. 34: Ms. Escobar, Mr. Tonko, and Mr. Nadler.

H.R. 56: Ms. Crockett.

H.R. 231: Mr. Cline.

H.R. 253: Ms. McCollum, Mr. Jackson of Illinois, and Mr.

Cleaver.

H.R. 303: Mr. Kilmer.

H.R. 459: Ms. Castor of Florida.

H.R. 549: Mr. Gallego, Mr. Cartwright, Mr. Mrvan, Ms.

Escobar, Ms. Titus, Mr. Evans, Ms. Stansbury, Mr. Espaillat,

Mrs. Lesko, Mr. Joyce of Ohio, Ms. Adams, Ms. Balint, Mr.

Owens, and Mrs. Sykes.

H.R. 620: Mrs. Peltola.

H.R. 666: Mr. Bowman.

H.R. 679: Mr. Lawler.

H.R. 681: Ms. Wild, Mr. Swalwell, Ms. Kamlager-Dove, Ms.

Balint, Ms.Crockett, and Mrs. Cherfilus-McCormick.

H.R. 700: Mr. Krishnamoorthi, Mr. Latta, Mr. Kelly of

Mississippi, Mr. Kim of New Jersey, Mrs. Chavez-DeRemer, Mr.

Harder of California, and Mrs. Steel.

H.R. 722: Mr. Barr.

H.R. 770: Ms. Kuster.

H.R. 795: Mr. Crow.

H.R. 807: Mr. Miller of Ohio, Mr. Fitzgerald, Mr. Bucshon,

and Mr. Soto.

H.R. 809: Mr. Posey and Mr. Huizenga.

H.R. 866: Mr. Vasquez.

H.R. 873: Mr. Nehls.

H.R. 906: Mr. Steube and Ms. Caraveo.

H.R. 972: Ms. Kelly of Illinois.

H.R. 1073: Mr. Lawler.

H.R. 1088: Mr. Neguse.

H.R. 1118: Ms. Balint.

H.R. 1138: Mr. Lawler.

H.R. 1139: Mr. Newhouse, Mr. DesJarlais, and Ms. Craig.

H.R. 1150: Ms. Jayapal and Mr. Moylan.

H.R. 1191: Mr. Swalwell, Mr. Thompson of California, Mr.

Jackson of Illinois, and Ms. Crockett.

H.R. 1200: Ms. Van Duyne and Mr. McCormick.

H.R. 1235: Mr. Sherman.

H.R. 1250: Mr. Costa.

H.R. 1259: Mr. Lieu.

H.R. 1277: Mr. Krishnamoorthi, Mr. Green of Texas, Ms.

Porter, Ms. Leger Fernandez, Mr. Schiff, Mr. Casten, Mrs.

Cherfilus-McCormick, Ms. Eshoo, Mr. DesJarlais, Ms. Norton,

Mr. Grijalva, Ms. Craig, Mr. Castro of Texas, Mrs. Dingell,

Mr. Morelle, Ms. Lee of California, Ms. Wasserman Schultz,

Mr. Espaillat, Ms. Barragan, and Mr. Huffman.

H.R. 1278: Mr. Moulton.

H.R. 1290: Mr. Feenstra.

H.R. 1295: Mr. Schiff.

H.R. 1318: Ms. Titus and Ms. Craig.

H.R. 1385: Ms. Pingree and Mr. LaHood.

H.R. 1432: Mr. Davis of Illinois.

H.R. 1437: Mr. Sessions.

H.R. 1447: Ms. Budzinski.

H.R. 1483: Mr. Raskin.

H.R. 1488: Mr. Tonko and Mr. Horsford.

H.R. 1503: Mr. Tonko.

H.R. 1517: Ms. Kuster.

H.R. 1535: Mr. Davis of North Carolina and Mr. Ciscomani.

H.R. 1555: Mr. Cardenas.

H.R. 1572: Mr. Jackson of Illinois, Mr. Cuellar, Mr. Harder

of California, Mr. Raskin, Mrs. Gonzalez-Colon, Mr. Posey,

and Mr. Owens.

H.R. 1614: Mr. Costa.

H.R. 1623: Mr. Feenstra.

H.R. 1637: Mr. Ciscomani, Mrs. Kiggans of Virginia, and Mr.

Ryan.

H.R. 1638: Mr. Bacon.

H.R. 1643: Mr. Gomez.

H.R. 1679: Mr. Lawler.

H.R. 1721: Ms. Crockett and Ms. Kuster.

H.R. 1728: Ms. Mace.

H.R. 1740: Mr. Allred.

H.R. 1758: Mr. Donalds.

H.R. 1763: Mr. Harder of California and Mr. Moskowitz.

H.R. 1770: Mrs. Kiggans of Virginia.

H.R. 1777: Mr. Tony Gonzales of Texas, Mr. Grothman, Mr.

Fleischmann, Mr. Sherman, and Mr. Ciscomani.

H.R. 1788: Mr. Phillips, Ms. Scholten, Ms. Spanberger, Ms.

McCollum, and Mr. Beyer.

H.R. 1831: Mr. Burgess and Mr. Grijalva.

H.R. 1841: Mr. Rouzer.

H.R. 1842: Mr. Gallego.

H.R. 2365: Mr. Levin, Mr. Balderson, Ms. Caraveo, Ms.

Salinas, Mr. Larsen of Washington, Mr. Magaziner, Mr. Trone,

Mr. Cleaver, Ms. Brownley, Ms. Leger Fernandez, and Mr.

Veasey.

H.R. 2367: Ms. Lee of Nevada, Mr. Joyce of Pennsylvania,

Mr. Guest, Mr. Pappas, and Mrs. Houchin.

H.R. 2370: Ms. Caraveo.

H.R. 2389: Mr. Moulton, Mr. Trone, Ms. Sherrill, Mr.

Horsford, Ms. Ross, Mrs. McBath, Mr. Mrvan, Ms. McCollum, and

Mr. Vicente Gonzalez of Texas.

H.R. 2406: Mr. Barr, Mrs. Harshbarger, and Mrs. Lesko.

H.R. 2407: Mr. Burgess, Ms. Hoyle of Oregon, Mr. Mooney,

Mrs. Fletcher, Mr. Morelle, Mr. Nickel, and Mr. Castro of

Texas.

H.R. 2410: Mr. Nickel.

H.R. 2412: Mr. Harder of California, Mr. Landsman, and Mr.

Cleaver.

H.R. 2431: Mrs. Chavez-DeRemer and Ms. Lee of Nevada.

H.R. 2510: Mr. Harder of California and Ms. Salinas.

H.R. 2550: Ms. Leger Fernandez.

H.R. 2583: Mr. Doggett, Mr. Pocan, Mr. Quigley, Ms. Sewell,

and Ms. Pingree.

H.R. 2630: Ms. Malliotakis, Mr. Steube, Mr. Fitzpatrick,

and Mr. Austin Scott of Georgia.

H.R. 2667: Mrs. Miller of West Virginia and Mr. Aderholt.

H.R. 2697: Mr. Vargas and Ms. Tlaib.

H.R. 2700: Mr. McCormick.

H.R. 2718: Ms. Blunt Rochester.

H.R. 2720: Mr. Carbajal, Ms. Kuster, Mr. Blumenauer, and

Mr. Lawler.

H.R. 2723: Mr. Moulton and Mr. Ryan.

H.R. 2736: Ms. Caraveo.

H.R. 2739: Mrs. Kim of California.

H.R. 2743: Mrs. Miller of West Virginia, Mr. C. Scott

Franklin of Florida, Mr. Simpson, and Mr. Newhouse.

H.R. 2814: Mr. Moore of Utah.

H.R. 2855: Mr. Harder of California.

H.R. 2869: Mr. Mfume.

H.R. 2871: Ms. Jayapal.

H.R. 2891: Mr. Tonko.

H.R. 2929: Mr. Pappas.

H.R. 2955: Mr. Burgess, Mr. Cleaver, Mr. Raskin, and Mr.

Goldman of New York.

H.R. 2957: Mr. Morelle and Mr. Allred.

H.R. 2987: Ms. Bush.

H.R. 3007: Mr. McGarvey.

H.R. 3029: Mr. Kelly of Pennsylvania and Mrs. Miller of

West Virginia.

H.R. 3074: Mr. Carter of Louisiana and Ms. Scanlon.

H.R. 3108: Mr. Fitzpatrick.

H.R. 3137: Mr. Newhouse.

H.R. 3139: Mr. Ryan and Ms. Foxx.

H.R. 3145: Ms. Omar.

H.R. 3152: Mr. Simpson, Mr. Tony Gonzales of Texas, Mr. C.

Scott Franklin of Florida, Mr. Cline, Mr. Santos, Mr. Golden

of Maine, Mrs. Foushee, and Mr. Rouzer.

H.R. 3170: Mr. Pallone and Ms. Dean of Pennsylvania.

H.R. 3184: Mr. Norcross.

H.R. 3192: Ms. Slotkin.

H.R. 3206: Mr. Gooden of Texas.

H.R. 3235: Mr. Huffman.

H.R. 3251: Mr. McGovern.

H.R. 3272: Mr. Lawler.

H.R. 3378: Mr. Bacon.

H.R. 3380: Ms. Kuster and Mr. Landsman.

H.R. 3381: Mr. Gottheimer, Mr. Norman, Mr. Babin, Ms.

Malliotakis, Mr. Soto, Mr. Ryan, Mr. Crenshaw, Mr. Trone, Ms.

Manning, Mr. Ciscomani, Ms. Caraveo, Mr. Carey, and Ms.

Salazar.

H.R. 3394: Mr. Pallone, Mr. Cohen, Ms. Scanlon, Ms.

Brownley, Ms. Ross, Mr. Carbajal, Mr. Deluzio, Ms. Tlaib, and

Mr. Trone.

H.R. 3410: Mr. Lawler.

H.R. 3413: Ms. Chu, Ms. Greene of Georgia, and Ms. Ross.

H.R. 3424: Mr. Tonko and Mr. Harder of California.

H.R. 3425: Mr. Tiffany and Ms. Manning.

H.R. 3448: Ms. Spanberger.

H.R. 3464: Mrs. Houchin.

H.R. 3468: Mr. Schiff, Mr. Vargas, Ms. Salinas, and Mr.

Goldman of New York.

H.R. 3473: Ms. Ocasio-Cortez.

H.R. 3488: Mr. Grijalva and Ms. Velazquez.

H.R. 3492: Mr. C. Scott Franklin of Florida.

H.R. 3503: Mr. Lieu and Mr. Pocan.

H.R. 3518: Ms. Norton.

H.R. 3519: Mr. Gomez.

H.R. 3530: Mr. Krishnamoorthi, Ms. DelBene, Mr. Swalwell,

Mr. Lieu, Ms. Ross, Mr. Neguse, and Mr. Schneider.

H.R. 3539: Mr. Crow and Mr. Molinaro.

H.R. 3549: Mrs. Miller-Meeks.

H.R. 3576: Mr. Smith of Washington and Mr. Vargas.

H.R. 3585: Ms. Mace.

H.R. 3589: Ms. Tokuda.

H.R. 3600: Mr. Larsen of Washington and Mr. Harder of

California.

H.R. 3601: Mr. Vargas, Mr. Moulton, and Ms. Sherrill.

H.R. 3608: Mr. Ruiz.

H.R. 3618: Mr. Fitzpatrick and Ms. Wilson of Florida.

H.R. 3662: Ms. Pingree.

H.R. 3679: Mr. Lawler.

H.R. 3681: Mr. Levin.

H.R. 3730: Mr. Ciscomani.

H.R. 3755: Mr. Smucker.

H.R. 3774: Mr. Fleischmann, Mr. McClintock, Mr. Soto, Mr.

Sherman, Ms.

Craig, and Mr. Bilirakis.

H.R. 3782: Mr. Fry and Mr. Phillips.

H.R. 3792: Mr. Lieu, Ms. Castor of Florida, Mr. Tony

Gonzales of Texas, Mr. Ryan, Mr. Grothman, Mr. Sherman, and

Mr. Robert Garcia of California.

H.R. 3838: Mr. Cohen.

H.R. 3843: Mr. Pocan and Ms. Tlaib.

H.R. 3851: Ms. Van Duyne and Ms. Sherrill.

H.R. 3859: Ms. Lofgren, Ms. McCollum, and Mr. Fitzpatrick.

H.R. 3867: Mr. LaLota.

H.R. 3875: Mr. Quigley and Mr. Mullin.

H.R. 3876: Mr. Crow.

H.R. 3879: Ms. Craig.

H.R. 3882: Mr. Deluzio and Mr. Joyce of Ohio.

H.R. 3916: Ms. Dean of Pennsylvania, Mrs. Bice, Ms.

McClellan, Mrs. Miller-Meeks, and Ms. Sherrill.

H.R. 3923: Mr. McGarvey.

H.R. 3949: Mr. Fry and Mr. Latta.

H.R. 3965: Mr. Robert Garcia of California.

H.R. 3988: Mr. Good of Virginia.

H.R. 3990: Mr. Lawler.

H.R. 4007: Mr. Lawler.

H.R. 4024: Ms. Matsui.

H.R. 4034: Ms. DelBene.

H.R. 4035: Mrs. Miller-Meeks.

H.R. 4040: Ms. DeGette.

H.R. 4059: Ms. Budzinski.

H.R. 4061: Mr. Kildee.

H.R. 4076: Mr. Peters.

H.R. 4118: Ms. Crockett, Ms. Norton, Mr. Carson, and Ms.

Jackson Lee.

H.R. 4144: Mr. Yakym.

H.R. 4149: Mr. Carson.

H.R. 4157: Mr. Moskowitz, Mr. Gottheimer, Mr. Flood, and

Ms. Wild.

H.R. 4170: Ms. Ross and Ms. Balint.

H.R. 4174: Ms. Budzinski.

H.R. 4175: Mr. Hill.

H.R. 4183: Ms. Castor of Florida.

H.R. 4198: Mr. Hill.

H.R. 4202: Mr. Gottheimer, Ms. Wilson of Florida, Ms.

Spanberger, Ms. Scanlon, Ms. Crockett, Mr. Torres of New

York, Mr. Swalwell, Ms. Lee of California, Mr. Trone, Mr.

Garcia of Illinois, and Mr. Lynch.

H.R. 4238: Mr. Timmons.

H.R. 4241: Ms. Davids of Kansas.

H.R. 4249: Ms. Craig.

H.R. 4259: Mrs. Houchin.

H.R. 4262: Ms. Mace.

H.R. 4273: Mr. Phillips.

H.R. 4274: Mr. McGovern.

H.R. 4295: Mr. Carter of Louisiana and Mr. Mullin.

H.R. 4314: Ms. DeGette.

H.R. 4328: Mrs. Kiggans of Virginia.

H.R. 4334: Mr. Bacon and Mr. Bergman.

H.R. 4384: Ms. Manning.

H.R. 4395: Mr. Baird.

H.R. 4432: Ms. Davids of Kansas.

H.R. 4438: Mr. Owens.

H.R. 4466: Mr. McGarvey and Ms. Wilson of Florida.

H.R. 4475: Mrs. Watson Coleman.

H.R. 4478: Mr. Mills.

H.R. 4514: Ms. Greene of Georgia.

H.R. 4534: Ms. Dean of Pennsylvania, Mr. Connolly, Ms.

Clarke of New York, and Ms. Wild.

H.R. 4561: Mr. McGovern and Ms. DeGette.

H.R. 4562: Mr. Moulton and Mr. Lawler.

H.R. 4563: Mr. McCormick.

H.R. 4566: Ms. Lofgren.

H.R. 4577: Ms. Sherrill and Mr. Guest.

H.R. 4581: Mr. Feenstra.

H.R. 4587: Ms. Salazar and Ms. Lee of Florida.

H.R. 4598: Mr. Lieu.

H.R. 4602: Ms. Kuster.

H.R. 4612: Mr. Duarte and Ms. Caraveo.

H.R. 4624: Mr. Carson, Ms. Eshoo, Mr. Grijalva, and Ms.

Jackson Lee.

H.R. 4663: Mrs. Lesko.

H.R. 4702: Mr. Lieu.

H.R. 4728: Ms. Schakowsky.

H.R. 4729: Ms. De La Cruz and Mr. Fry.

H.R. 4733: Mr. Neguse.

H.R. 4745: Mrs. Kim of California.

H.R. 4750: Ms. Jayapal.

H.R. 4758: Ms. Wexton, Mr. McCaul, Mr. Smucker, and Ms.

Barragan.

H.R. 4769: Ms. Scholten, Mr. Schiff, Mr. Garbarino, Mr.

Smith of New Jersey, Mr. Lawler, Mr. Goldman of New York, Mr.

LaLota, and Mr. Carter of Louisiana.

H.R. 4779: Mr. Doggett, Mr. Payne, and Mr. McGovern.

H.R. 4782: Mr. Blumenauer.

H.R. 4817: Mr. Robert Garcia of California.

H.R. 4844: Mr. Harder of California.

H.R. 4886: Mr. Kildee.

H.R. 4895: Mr. Connolly, Mr. Kildee, Ms. Escobar, Mr.

Larsen of Washington, and Ms. Porter.

H.R. 4904: Mrs. Miller-Meeks.

H.R. 4914: Ms. Barragan.

H.R. 4919: Ms. Schakowsky, Ms. Dean of Pennsylvania, and

Mr. Frost.

H.R. 4921: Mrs. Miller of Illinois.

H.R. 4965: Ms. Garcia of Texas, Mr. Norcross, Ms. Ocasio-

Cortez, and Ms. Lofgren.

H.R. 4970: Mrs. Chavez-DeRemer.

H.R. 5006: Ms. Stefanik.

H.R. 5008: Ms. Kamlager-Dove and Ms. Balint.

H.R. 5012: Ms. Clarke of New York, Ms. Williams of Georgia,

and Ms. Craig.

H.R. 5013: Mr. Fitzpatrick.

H.R. 5041: Mr. Ruiz.

H.R. 5094: Mr. Langworthy.

H.R. 5106: Mr. Womack.

H.R. 5107: Mr. Grothman.

H.R. 5110: Mrs. McClain, Ms. Foxx, Ms. Perez, Mr. Walberg,

Mrs. Houchin, Mrs. Wagner, Mr. Bost, Mr. Williams of New

York, Mr. DesJarlais, and Mr. LaHood.

H.R. 5113: Mr. Vasquez.

H.R. 5130: Mr. Graves of Missouri.

H.R. 5136: Ms. Caraveo.

H.R. 5145: Mr. Bowman.

H.R. 5159: Ms. Clarke of New York, Mr. LaHood, Mr.

Fitzpatrick, Mr. Bacon, Mr. Ferguson, Mr. Larson of

Connecticut, Mr. Comer, Mr. Graves of Louisiana, Mr. Boyle of

Pennsylvania, Mr. Gottheimer, and Mr. Phillips.

H.R. 5169: Mr. Ruppersberger, Mr. Bergman, Mr. Thompson of

California, and Mr. Ciscomani.

H.R. 5171: Mr. Swalwell.

H.R. 5175: Ms. Norton, Mr. Grijalva, Mr. Bilirakis, and Mr.

Moskowitz.

H.R. 5182: Mr. Fry and Mr. Owens.

H.R. 5184: Mr. Fallon, Mr. Crenshaw, and Mr. Meuser.

H.R. 5203: Mr. Mooney.

H.R. 5221: Ms. Eshoo.

H.R. 5233: Ms. Davids of Kansas.

H.R. 5239: Ms. Lee of Florida.

H.R. 5242: Ms. Bonamici and Mr. Fitzpatrick.

H.R. 5245: Mr. Issa and Ms. Stefanik.

H.R. 5247: Mr. Sablan.

H.R. 5249: Mr. Moulton, Mr. Fitzpatrick, Mr. Carson, Ms.

Tokuda, Mr. Davis of North Carolina, and Mr. Case.

H.R. 5250: Mr. Lawler.

H.R. 5252: Ms. Sherrill, Mr. Payne, and Mr. Blumenauer.

H.R. 5265: Mr. Stauber.

H.R. 5283: Mr. Smith of New Jersey.

H.R. 5290: Mr. Tonko and Ms. Bush.

H.R. 5291: Ms. Bush.

H.R. 5292: Mr. Tonko, Ms. Bush, Ms. Chu, and Ms. Jayapal.

H.R. 5293: Ms. Bush.

H.R. 5294: Ms. Bush and Ms. Jayapal.

H.R. 5295: Mr. Tonko and Ms. Bush.

H.R. 5302: Mr. Waltz.

H.R. 5308: Mr. Costa and Mr. Ryan.

H.R. 5318: Mr. Davis of North Carolina.

H.R. 5323: Mr. Sessions.

H.R. 5329: Mr. Takano.

H.R. 5342: Mr. Williams of Texas, Mr. Gooden of Texas, and

Ms. De La Cruz.

H.R. 5349: Mr. Owens.

H.R. 5351: Ms. Schakowsky, Mr. Cohen, and Mr. Veasey.

H.R. 5361: Mrs. Foushee.

H.R. 5368: Mr. Fry, Mrs. Harshbarger, Mr. Van Drew, Mr.

Johnson of Louisiana, Mr. Bost, and Mr. Mills.

H.R. 5369: Ms. Barragan.

H.R. 5377: Mr. Davis of North Carolina.

H.R. 5379: Mr. Norman.

H.J. Res. 88: Mr. Babin, Mr. Good of Virginia, Mrs. Miller-

Meeks, Mrs. Houchin, Mr. Yakym, and Ms. Hageman.

H. Con. Res. 31: Mr. Huffman.

H. Con. Res. 44: Mr. Casar.

H. Con. Res. 59: Ms. Sanchez.

H. Con. Res. 61: Ms. Waters, Mr. Moulton, Ms. DeGette, Mr.

Casten, Mr. Levin, Ms. Moore of Wisconsin, Ms. Clarke of New

York, Ms. McClellan, Mr. DeSaulnier, Mr. Casar, Ms. Balint,

Ms. Salinas, and Mr. Pocan.

H. Res. 50: Mr. Mooney, Mr. Sessions, Mr. Cloud, and Ms.

Van Duyne.

H. Res. 77: Mr. Lynch.

H. Res. 100: Mr. Walberg.

H. Res. 108: Mr. Mike Garcia of California.

H. Res. 154: Mr. Khanna.

H. Res. 198: Mrs. Fletcher.

H. Res. 339: Mr. Donalds.

H. Res. 345: Mr. Nadler.

H. Res. 374: Mr. Frost.

H. Res. 451: Mr. Kelly of Mississippi, Mrs. Miller of

Illinois, Mrs. Chavez-DeRemer, Ms. Budzinski, Mr. Davis of

North Carolina, Mr. Bost, and Mr. Sorensen.

H. Res. 492: Mr. Van Drew, Mr. Schiff, Mr. Vasquez, Ms.

Stevens, Mrs. Gonzalez-Colon, Mr. Vicente Gonzalez of Texas,

Mr. Buchanan, Mr. Davis of Illinois, and Mr. Allred.

H. Res. 509: Mr. Goldman of New York.

H. Res. 585: Mrs. Torres of California, Ms. Lee of

California, and Ms. Dean of Pennsylvania.

H. Res. 615: Mr. Carter of Louisiana.

H. Res. 616: Mr. Peters, Mr. Keating, and Ms. Ross.

H. Res. 623: Mr. Moskowitz and Mr. Trone.

H. Res. 625: Mrs. Trahan, Mr. Costa, and Mr. Torres of New

York.

H. Res. 627: Mr. Ruppersberger, Mrs. Miller of Illinois,

Mr. Langworthy, Ms. Stefanik, Mr. Schiff, and Ms. Craig.

H. Res. 634: Ms. Schakowsky.

H. Res. 651: Mr. DesJarlais.

H. Res. 674: Mr. Moylan, Ms. Crockett, Ms. Norton, Mr.

Posey, Mrs. Peltola, Mr. Nunn of Iowa, Mr. Van Drew, Mr.

Donalds, Mr. Westerman, Mr. Kelly of Pennsylvania, and Mr.

Crenshaw.

Bill Text

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Introduced in HouseIssued January 9, 2023

118th CONGRESS

1st Session

H. R. 34

IN THE HOUSE OF REPRESENTATIVES

January 9, 2023

Mr. Doggett (for himself, Ms. Barragán, Mr. Blumenauer, Mr. Boyle of Pennsylvania, Mr. Cohen, Mr. Grijalva, Ms. Jayapal, Mr. Larson of Connecticut, Ms. Moore of Wisconsin, Mr. Pocan, Ms. Sánchez, Ms. Schakowsky, Mr. Schiff, Ms. Titus, Ms. Williams of Georgia, and Mr. Casar) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Social Security Act and the Internal Revenue Code of 1986 to include net investment income tax imposed in the Federal Hospital Insurance Trust Fund and to modify the net investment income tax.

Short title

This Act may be cited as the Assuring Medicare’s Promise Act of 2023.

Inclusion of net investment income tax in Hospital Insurance Trust Fund

(a)

In general

Section 1817(a) of the Social Security Act (42 U.S.C. 1395i(a)) is amended—

(1)

by striking and at the end of paragraph (1);

(2)

by striking the period at the end of paragraph (2) and inserting ; and; and

(3)

by inserting after paragraph (2) the following new paragraph:

(3)

the taxes imposed by section 1411 of the Internal Revenue Code of 1986 reported to the Secretary of the Treasury or the Secretary’s delegate on tax returns under subtitle F of such Code.

(b)

Effective date

The amendments made by this section shall apply with respect to taxes imposed for taxable years beginning after December 31, 2023.

Application of net investment income tax to trade or business income of certain high income individuals

(a)

In general

Section 1411 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection:

(f)

Application to certain high income individuals

(1)

In general

In the case of any individual whose modified adjusted gross income for the taxable year exceeds the high income threshold amount, subsection (a)(1) shall be applied by substituting the greater of specified net income or net investment income for net investment income in subparagraph (A) thereof.

(2)

Phase-in of increase

The increase in the tax imposed under subsection (a)(1) by reason of the application of paragraph (1) of this subsection shall not exceed the amount which bears the same ratio to the amount of such increase (determined without regard to this paragraph) as—

(A)

the excess described in paragraph (1), bears to

(B)

$100,000 (½ such amount in the case of a married taxpayer (as defined in section 7703) filing a separate return).

(3)

High income threshold amount

For purposes of this subsection, the term high income threshold amount means—

(A)

except as provided in subparagraph (B) or (C), $400,000,

(B)

in the case of a taxpayer making a joint return under section 6013 or a surviving spouse (as defined in section 2(a)), $500,000, and

(C)

in the case of a married taxpayer (as defined in section 7703) filing a separate return, ½ of the dollar amount determined under subparagraph (B).

(4)

Specified net income

For purposes of this section, the term specified net income means net investment income determined—

(A)

without regard to the phrase other than such income which is derived in the ordinary course of a trade or business not described in paragraph (2), in subsection (c)(1)(A)(i),

(B)

without regard to the phrase described in paragraph (2) in subsection (c)(1)(A)(ii),

(C)

without regard to the phrase other than property held in a trade or business not described in paragraph (2) in subsection (c)(1)(A)(iii),

(D)

without regard to paragraphs (2), (3), and (4) of subsection (c), and

(E)

by treating paragraphs (5) and (6) of section 469(c) (determined without regard to the phrase To the extent provided in regulations, in such paragraph (6)) as applying for purposes of subsection (c) of this section.

(b)

Application to trusts and estates

Section 1411(a)(2)(A) of such Code is amended by striking undistributed net investment income and inserting the greater of undistributed specified net income or undistributed net investment income.

(c)

Clarifications with respect to determination of net investment income

(1)

Certain exceptions

Section 1411(c)(6) of such Code is amended to read as follows:

(6)

Special rules

Net investment income shall not include—

(A)

any item taken into account in determining self-employment income for such taxable year on which a tax is imposed by section 1401(b),

(B)

wages received with respect to employment on which a tax is imposed under section 3101(b) or 3201(a) (including amounts taken into account under section 3121(v)(2)), and

(C)

wages received from the performance of services earned outside the United States for a foreign employer.

(2)

Net operating losses not taken into account

Section 1411(c)(1)(B) of such Code is amended by inserting (other than section 172) after this subtitle.

(3)

Inclusion of certain foreign income

(A)

In general

Section 1411(c)(1)(A) of such Code is amended by striking and at the end of clause (ii), by striking over at the end of clause (iii) and inserting and, and by adding at the end the following new clause:

(iv)

any amount includible in gross income under section 951, 951A, 1293, or 1296, over

(B)

Proper treatment of certain previously taxed income

Section 1411(c) of such Code is amended by adding at the end the following new paragraph:

(7)

Certain previously taxed income

The Secretary shall issue regulations or other guidance providing for the treatment of—

(A)

distributions of amounts previously included in gross income for purposes of chapter 1 but not previously subject to tax under this section, and

(B)

distributions described in section 962(d).

(d)

Effective date

The amendments made by this section shall apply to taxable years beginning after December 31, 2023.

(e)

Transition rule

The regulations or other guidance issued by the Secretary under section 1411(c)(7) of the Internal Revenue Code of 1986 (as added by this section) shall include provisions which provide for the proper coordination and application of clauses (i) and (iv) of section 1411(c)(1)(A) with respect to—

(1)

taxable years beginning on or before December 31, 2023, and

(2)

taxable years beginning after such date.