Billionaires Income Tax Act

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 2845 Introduced in Senate (IS)] <DOC> 119th CONGRESS 1st Session S. 2845 To amend the Internal Revenue Code of 1986 to eliminate tax loopholes that allow billionaires to defer tax indefinitely through planning strategies such as ``buy, borrow, die'', to modify over 30 tax provisions so that billionaires are required to pay taxes annually, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES September 17 (legislative day, September 16), 2025 Mr. Wyden (for himself, Mr. Whitehouse, Ms. Warren, Mr. Sanders, Ms. Smith, Mr. Lujan, Mr. Welch, Ms. Alsobrooks, Ms. Baldwin, Mr. Blumenthal, Ms. Duckworth, Mr. Fetterman, Mr. Heinrich, Ms. Hirono, Mr. Markey, Mr. Merkley, Mr. Murphy, Mrs. Murray, Mr. Reed, Mr. Schatz, and Mr. Van Hollen) introduced the following bill; which was read twice and referred to the Committee on Finance _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to eliminate tax loopholes that allow billionaires to defer tax indefinitely th…