HR 609 119th Congress
Assuring Medicare’s Promise Act of 2025
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.
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Introduction Congress.gov
Introduced
Introduced in the House.
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Referred to the House Committee on Ways and Means.
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Introduced in House
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Introduced in House
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Introduced in House
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| Date and time | Record | Official detail | Source |
|---|---|---|---|
| IntroductionIntroduced | Introduced in the House. | Congress.gov | |
| Official actionReferred to the House Committee on Ways and Means. | No additional detail supplied.IntroReferral · House floor actions · Code H11100 | Congress.gov | |
| Official actionIntroduced in House | No additional detail supplied.IntroReferral · Library of Congress · Code Intro-H | Congress.gov | |
| Official actionIntroduced in House | No additional detail supplied.IntroReferral · Library of Congress · Code 1000 | Congress.gov | |
| Text versionIntroduced in House | A dated text-version record is available. | Congress.gov |
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Congressional Research Service
CRS summary
Assuring Medicare’s Promise Act of 2025This bill increases the net investment tax for certain taxpayers and appropriates revenue from the net investment tax to the Federal Hospital Insurance Trust Fund (which finances Medicare Part A). The bill also requires the Internal Revenue Service (IRS) to issue additional guidance on the net investment tax.The bill requires individuals with a modified adjusted gross income (MAGI) exceeding $400,000 ($500,000 for joint filers and $250,000 for married individuals filing separately), estates, and trusts to pay a tax of 3.8% on the greater of their specified net income or net investment income, subject to limitations. (Under current law, individuals with a MAGI exceeding $200,000 [or $250,000 for joint filers], estates, and trusts pay a 3.8% tax on net investment income.)The bill defines specified net income by expanding the definition of net investment income toinclude gross income from any trade or business (unless subject to employment taxes), including interest, dividends, annuities, royalties, and rents;include net gain from the disposition of business property;eliminate the exclusion of income from the investment of working capital; andeliminate the exception related to certain active partnership or S corporation interests.The bill alsoexpands the net investment tax definition of a trade or business,disallows net operating losses in calculating net investment income, includes certain foreign-sourced income in net investment income, andrequires the IRS to issue guidance on the treatment of certain corporate distributions for purposes of the net investment tax.
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- Introduced in HouseJan 22, 2025