# 119-hr-8294: Millionaires Surtax Act

119-hr-8294, Millionaires Surtax Act, is a 119th Congress bill sponsored by Rep. Beyer, Donald S. [D-VA-8] (D-VA); status introduced; PRIA reads it as touching household money (as of 2026-09-21).

- Canonical: https://policyrisk.com/legislation/119-hr-8294
- As of: 2026-09-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-8294
- Congress: 119
- Title: Millionaires Surtax Act
- Status: introduced
- Introduced: 2026-04-15
- Sponsor: Rep. Beyer, Donald S. [D-VA-8] (D-VA)
- Cosponsors: 9
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-09-21

## Summary

**A new 10% surtax on very high incomes.** This bill would impose a 10 percent surcharge on the portion of a noncorporate taxpayer’s modified adjusted gross income that exceeds set thresholds: $2,000,000 for joint filers and $1,000,000 for other filers and surviving spouses. - Households with very high incomes would pay an extra 10% on MAGI above $2.0 million for joint filers and above $1.0 million for single filers and surviving spouses. - The bill defines MAGI with an adjustment for certain investment interest deductions and uses the special MAGI rule in section 67(e) for estates and trusts. Nonresident aliens count only amounts taxed under section 871(b). U.S. citizens and residents abroad adjust the post‑threshold amount for interactions with the foreign earned income exclusion. - Charitable trusts whose unexpired interests are devoted to purposes in section 170(c)(2)(B) are excluded. The surtax is not treated as a tax for calculating other tax credits under the code or for purposes of section 55.

## Cosponsors (9)

- Rep. Cohen, Steve [D-TN-9] (D-TN), 2026-04-15T00:00:00.000Z
- Rep. Deluzio, Christopher R. [D-PA-17] (D-PA), 2026-04-15T00:00:00.000Z
- Del. Norton, Eleanor Holmes [D-DC-At Large] (D-DC), 2026-04-15T00:00:00.000Z
- Rep. Tlaib, Rashida [D-MI-12] (D-MI), 2026-04-15T00:00:00.000Z
- Rep. Davis, Danny K. [D-IL-7] (D-IL), 2026-04-15T00:00:00.000Z
- Rep. Panetta, Jimmy [D-CA-19] (D-CA), 2026-04-16T00:00:00.000Z
- Rep. Sánchez, Linda T. [D-CA-38] (D-CA), 2026-04-16T00:00:00.000Z
- Rep. García, Jesús G. "Chuy" [D-IL-4] (D-IL), 2026-04-20T00:00:00.000Z
- Rep. McBride, Sarah [D-DE-At Large] (D-DE), 2026-05-29T00:00:00.000Z

## Provisions PRIA read

- New 10% surtax on millionaires: cost, high. If enacted, this bill would add a new 10% surtax on noncorporate taxpayers. You would pay 10% of your modified adjusted gross income (MAGI) that is over a threshold. The threshold would be $2,000,000 for joint filers (and qualifying surviving spouses) and $1,000,000 for other filers. The threshold…

## Related bills

- 119-hr-9877: Health Equity and Accountability Act of 2026
- 119-hr-7973: Momnibus Act
- 119-hr-7853: PrEP Access and Coverage Act of 2026
- 119-hr-51: Washington, D.C. Admission Act
- 119-hr-20: Richard L. Trumka Protecting the Right to Organize Act of 2025
- 119-hr-7977: Energy Bills Relief Act

## Sources
- [119-hr-8294 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/8294)

## Related
- [119-hr-9877: Health Equity and Accountability Act of 2026](https://policyrisk.com/legislation/119-hr-9877)
- [119-hr-7973: Momnibus Act](https://policyrisk.com/legislation/119-hr-7973)
- [119-hr-7853: PrEP Access and Coverage Act of 2026](https://policyrisk.com/legislation/119-hr-7853)
- [119-hr-51: Washington, D.C. Admission Act](https://policyrisk.com/legislation/119-hr-51)
- [119-hr-20: Richard L. Trumka Protecting the Right to Organize Act of 2025](https://policyrisk.com/legislation/119-hr-20)
- [119-hr-7977: Energy Bills Relief Act](https://policyrisk.com/legislation/119-hr-7977)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-8294 (as of 2026-09-21).