Strengthens Medicare's funding by expanding investment income taxes for high-income individuals and trusts.
This bill would send all Net Investment Income Tax money to Medicare's Hospital Trust Fund. It would also expand this tax to include more types of business income for individuals earning over $400,000 (or $500,000 for joint filers) and for trusts and estates. These changes aim to boost Medicare's financial health, starting for tax years after December 31, 2025.
Currently, the Net Investment Income Tax (NIIT) revenue is not specifically directed to Medicare's Hospital Insurance Trust Fund, and the tax generally excludes most active business income for high earners. This bill would direct all NIIT revenue to the Trust Fund. It would also expand the NIIT to include certain business income for individuals earning over $400,000 (or $500,000 for joint filers) and for trusts and estates, starting for tax years after December 31, 2025.
HR 609 · 119th Congress · January 22, 2025 · AI Summary by gemini-2.5-flash · 9/10
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Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.