Adam Smith (D-WA)
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.
A Democratic resolution with no cosponsors
Last activity — Referred to the House Committee on Ways and Means.
In committee
Introduced and handed to a committee in the chamber it started in.
The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.
Its path through Congress
- Introduced
- In Committee
A House resolution is the House speaking for itself: stating a position, honouring someone, or setting its own rules. Adopting it is the whole process. Once the House agrees to it, it is officially the House's word; it is not a law, so the Senate and the President have no part in it.
What this bill would do
This resolution addresses the growing national debt and the current state of the federal tax system. It highlights a widening gap between those who earn income through wages and those who accumulate wealth through capital gains, business equity, and investments. The text notes that the current system relies heavily on wage and payroll taxes while many large wealth accumulations remain outside the ordinary income tax base. Consequently, the resolution seeks to advocate for tax reforms that ensure all citizens contribute to the government in proportion to their economic gains. It specifically encourages the House of Representatives to treat all income consistently regardless of its source. Finally, it calls on the Committee on Ways and Means to hold hearings regarding these tax disparities.
Yes· 3 of 9
- Scored +5
Does this raise taxes on the highest earners?
The resolution seeks to close gaps that allow capital gains and business equity to remain outside the ordinary income tax base.
- Scored +4
Does this make the government pay for what it commits to?
The bill aims to improve fiscal responsibility by ensuring the tax system meets the nation's fiscal needs more effectively.
- Scored +4
Does this make what the government does easier for the public to see?
The bill addresses the need for better verification and disclosure standards for capital-derived wealth.
The opposite· 3 of 5
- Scored -7
Would the very wealthiest people be better off under this?
The resolution seeks to address the ways ultra-wealthy individuals keep wealth outside the ordinary income tax base.
- Scored -7
Would billionaires be better off under this?
The bill highlights how billionaires use various mechanisms to avoid consistent taxation on their gains.
- Scored -6
Would people with substantial wealth be better off under this?
The bill explicitly calls for taxing the large wealth accumulations held by the wealthiest citizens.
Who it would affect, and how
Potential Positive Impacts for People
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Consistent Treatment of Income: The resolution finds that the tax code should apply consistent treatment to all income regardless of its source or form (Section 1). This could benefit citizens by ensuring that the tax burden is not determined by how the money was earned.
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Proportional Contribution to Government Operations: The resolution encourages reforms to ensure all citizens contribute to the Federal Government in proportion to the economic gains they realize (Section s 2). This aims to address the current situation where the government depends overwhelmingly on wages rather than capital, inheritance, or business equity.
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Increased Transparency and Verification: The text notes that current disparities in disclosure and verification standards prevent the public from assessing the scale of gains accumulated by the wealthiest citizens (Whereas clauses). Implementing reforms could improve the transparency the tax system depends on to maintain public confidence.
Potential Negative Impacts for People
- No specific negative impacts are explicitly stated in the text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Demographic And Interest Groups
- Would households on low incomes be better off under this? — The emphasis on taxing capital rather than wages may provide long-term economic relief for low-income households. Would middle-income households be better off under this? — A fairer tax structure could reduce the disproportionate reliance on wage taxation for the middle class. Would union members be better off under this? — Reducing the relative burden of payroll taxes compared to capital gains could benefit wage earners and union workers. Would billionaires be better off under this? — The bill highlights how billionaires use various mechanisms to avoid consistent taxation on their gains. Would the very wealthiest people be better off under this? — The resolution seeks to address the ways ultra-wealthy individuals keep wealth outside the ordinary income tax base. Would people with substantial wealth be better off under this? — The bill explicitly calls for taxing the large wealth accumulations held by the wealthiest citizens. Would high-income households be better off under this? — The proposed reforms target the taxation of capital-derived wealth which is prevalent among high-income individuals. Would business owners be better off under this? — The resolution targets business equity appreciation as a source of taxable income.
- Economy And Finance
- Does this raise taxes on the highest earners? — The resolution seeks to close gaps that allow capital gains and business equity to remain outside the ordinary income tax base. Does this make the government pay for what it commits to? — The bill aims to improve fiscal responsibility by ensuring the tax system meets the nation's fiscal needs more effectively. Does this reduce what the federal government owes? — By seeking to increase revenue through the taxation of capital-derived wealth, the resolution aims to address the national debt.
- Governance And Ideology
- Does this make what the government does easier for the public to see? — The bill addresses the need for better verification and disclosure standards for capital-derived wealth. Does this give the federal government more power? — The resolution seeks to expand the scope of federal revenue collection through new tax treatments.
- Social Issues And Justice
- Is this likely to lift people out of poverty? — By attempting to create a more equitable tax system, the resolution could indirectly support poverty reduction efforts.
- 7/30/2026
- Submitted in House
- Referred to the House Committee on Ways and Means.