PRIA Logo™
119-hres-1468119th Congress

Encouraging Congress to pursue reforms to ensure that all United States citizens contribute to funding the operations of the Federal Government in proportion to the economic gains they realize.

Sponsored By: Representative Smith, Adam [D-WA-9]

Introduced

Summary

Equal tax treatment for all economic gains is the central goal of this resolution. It would declare that income from wages, capital appreciation, inheritance, charitable vehicles, and emerging assets should face consistent taxation and verification and would urge Congress to pursue reforms to achieve that fairness.

Show full summary
  • Workers and households: The resolution highlights heavy reliance on wage taxes, noting individual income taxes make up about 49 percent of Federal revenue and payroll taxes about 35 percent. It calls attention to how that reliance can produce different tax outcomes for people with similar economic gains.
  • High-net-worth investors and estates: The resolution points out extreme wealth concentration, with the top 1 percent holding about $55 trillion in net worth, and it flags tactics that keep capital gains and inherited wealth outside ordinary income tax rules.
  • Charitable giving and emerging assets: It notes that private foundations and donor-advised funds can give immediate tax relief without timely public distribution and that digital assets and cryptocurrencies expand wealth outside conventional reporting.
  • Congress and oversight: The resolution would direct the House Committee on Ways and Means to hold hearings examining disparate tax treatment between wages and capital-derived wealth.

Personalized for You

How does this bill affect your finances?

Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.

Free to download

Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Smith, Adam [D-WA-9]

WA • D

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
Back to Legislation