United States 118th Congress Status: In Committee 67 D cosponsors

HR 34 — Assuring Medicare’s Promise Act of 2023

Last action — Referred to the Subcommittee on Health.

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 118th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there are no live odds of enactment. It would have to be reintroduced in the current session to move again.

In plain language

The bill modifies the net investment income tax for high-income individuals and allocates funds to Medicare.

This legislation extends the net investment income tax to certain business income of high-income taxpayers. The generated revenue will support the Federal Hospital Insurance Trust Fund, which finances Medicare, starting from taxable years after December 31, 2023.

What this means for you
  • Workers: High-income workers may see changes in their tax obligations due to modifications in the net investment income tax.

Summary

Assuring Medicare’s Promise Act of 2023 This bill increases net investment income tax revenues by applying such tax to the trade or business income of certain high income taxpayers and includes the increased tax revenues in the Federal Hospital Insurance Trust Fund.

Bill Text

How this bill changes current law

3 changes Share ↗

Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill adds net investment income taxes to the Federal Hospital Insurance Trust Fund and modifies related tax provisions.

  • 42 U.S.C. 1395i(a)

    and → and

    The amendment modifies the list of revenue sources for the Trust Fund by ensuring the previous entry does not end the list but connects to the new entry.

  • 42 U.S.C. 1395i(a)

    . → ; and

    This change allows for an additional item to be added to the list of sources for the Trust Fund.

  • 42 U.S.C. 1395i(a)

    (3) the taxes imposed by section 1411 of the Internal Revenue Code of 1986 reported to the Secretary of the Treasury or the Secretary's delegate on tax returns under subtitle F of such Code.

    This new provision includes net investment income tax as a revenue source for the Federal Hospital Insurance Trust Fund.

Action History

  1. Introduced in House

  2. Introduced in House

  3. Referred to the House Committee on Ways and Means.

  4. Referred to the Subcommittee on Health.

Sponsors

Sponsorship breakdown

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1 sponsors · 66 co-sponsors · 480 not signed on

Sponsors (1)

Co-sponsors (66)

Not signed on (480)

480 members have not signed on to this bill.

Show all 480 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

taxation healthcare health-insurance
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Frequently asked questions

What does HR 34 do?
Assuring Medicare’s Promise Act of 2023 This bill increases net investment income tax revenues by applying such tax to the trade or business income of certain high income taxpayers and includes the increased tax revenues in the Federal Hospital Insurance Trust Fund.
Who sponsors HR 34?
HR 34 is sponsored by Barragán, Nanette Diaz (Democratic), Blumenauer, Earl (Democratic), Boyle, Brendan F. (Democratic), Cohen, Steve (Democratic), Grijalva, Raúl M. (Democratic), Jayapal, Pramila (Democratic), Larson, John B. (Democratic), Moore, Gwen (Democratic), Pocan, Mark (Democratic), Sánchez, Linda T. (Democratic), Schakowsky, Janice D. (Democratic), Schiff, Adam B. (Democratic), Titus, Dina (Democratic), Williams, Nikema (Democratic), Casar, Greg (Democratic), Davis, Danny K. (Democratic), Sewell, Terri A. (Democratic), Johnson, Henry C. "Hank" (Democratic), Bowman, Jamaal (Democratic), Wild, Susan (Democratic), Porter, Katie (Democratic), Cicilline, David N. (Democratic), Dingell, Debbie (Democratic), Khanna, Ro (Democratic), Norton, Eleanor Holmes (Democratic), Ramirez, Delia C. (Democratic), Jackson Lee, Sheila (Democratic), DeSaulnier, Mark (Democratic), Ocasio-Cortez, Alexandria (Democratic), Tlaib, Rashida (Democratic), Brownley, Julia (Democratic), Veasey, Marc A. (Democratic), Higgins, Brian (Democratic), Salinas, Andrea (Democratic), Deluzio, Christopher R. (Democratic), Wilson, Frederica S. (Democratic), Lee, Barbara (Democratic), Espaillat, Adriano (Democratic), Adams, Alma S. (Democratic), Bush, Cori (Democratic), Goldman, Daniel S. (Democratic), Gomez, Jimmy (Democratic), Velázquez, Nydia M. (Democratic), Cherfilus-McCormick, Sheila (Democratic), Huffman, Jared (Democratic), McGovern, James P. (Democratic), DeLauro, Rosa L. (Democratic), Keating, William R. (Democratic), Payne, Donald M. (Democratic), Hoyle, Val T. (Democratic), Garamendi, John (Democratic), DeGette, Diana (Democratic), Crockett, Jasmine (Democratic), Frost, Maxwell (Democratic), Escobar, Veronica (Democratic), Tonko, Paul (Democratic), Nadler, Jerrold (Democratic), Neguse, Joe (Democratic), Levin, Mike (Democratic), Pressley, Ayanna (Democratic), Pingree, Chellie (Democratic), Carter, Troy A. (Democratic), Lee, Summer L. (Democratic), Castro, Joaquin (Democratic), Chu, Judy (Democratic), Carson, André (Democratic), and Doggett, Lloyd (Democratic).
What is the current status of HR 34?
This bill died with 118th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HR 34?
Track HR 34 free on One Click Politics — get push/email alerts when it moves.

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