House Republicans Read The Bill

SEC. 551. SURCHARGE ON HIGH INCOME INDIVIDUALS.

(a) In General- Part VIII of subchapter A of chapter 1 of the Internal Revenue Code of 1986, as added by this title, is amended by adding at the end the following new subpart: Read more at www.opencongress.org

‘Subpart B–Surcharge on High Income Individuals

‘Sec. 59C. Surcharge on high income individuals. Read more at www.opencongress.org

‘SEC. 59C. SURCHARGE ON HIGH INCOME INDIVIDUALS. Read more at www.opencongress.org

‘(a) General Rule- In the case of a taxpayer other than a corporation, there is hereby imposed (in addition to any other tax imposed by this subtitle) a tax equal to 5.4 percent of so much of the modified adjusted gross income of the taxpayer as exceeds $1,000,000. Read more at www.opencongress.org

‘(b) Taxpayers Not Making a Joint Return- In the case of any taxpayer other than a taxpayer making a joint return under section 6013 or a surviving spouse (as defined in section 2(a)), subsection (a) shall be applied by substituting ‘$500,000’ for ‘$1,000,000’. Read more at www.opencongress.org

SEC. 512. HEALTH CARE CONTRIBUTIONS OF NONELECTING EMPLOYERS. Read more at www.opencongress.org

‘(c) Employers Electing Not to Provide Health Benefits- Read more at www.opencongress.org

‘(1) IN GENERAL- In addition to other taxes, there is hereby imposed on every nonelecting employer an excise tax, with respect to having individuals in his employ, equal to 8 percent of the wages (as defined in section 3121(a)) paid by him with respect to employment (as defined in section 3121(b)). Read more at www.opencongress.org

‘(c) Employers Electing Not to Provide Health Benefits- Read more at www.opencongress.org

‘(1) IN GENERAL- In addition to other taxes, there is hereby imposed on every nonelecting employer an excise tax, with respect to having individuals in his employ, equal to 8 percent of the compensation paid during any calendar year by such employer for services rendered to such employer. Read more at www.opencongress.org

SEC. 223. HEALTH BENEFITS ADVISORY COMMITTEE. (a) Establishment- (1) IN GENERAL- There is established a private-public advisory committee which shall be a panel of medical and other experts to be known as the Health Benefits Advisory Committee to recommend covered benefits and essential, enhanced, and premium plans. Read more at www.opencongress.org