,i  #aaith ,,congress  #ast ,session    
,h4 ,r4 #fji  ,,in ,,the ,,house ,,of   
,,representatives  ,january #bb1        
#bjbe,mr4 ,doggett 7for himself1 ,ms4   
,adams1 ,ms4 ,barragn1 ,mr4 ,boyle of   
,pennsylvania1 ,ms4 ,brownley1 ,mr4     
,carson1 ,mr4 ,casar1 ,mr4 ,castro of   
,texas1 ,ms4 ,chu1 ,mr4 ,cohen1 ,mr4    
,davis of ,illinois1 ,ms4 ,de,gette1    
,ms4 ,de,lauro1 ,mr4 ,deluzio1 ,mrs4    
,dingell1 ,ms4 ,escobar1 ,mr4           
,espaillat1 ,mr4 ,fields1 ,mr4 ,frost1  
,mr4 ,garamendi1 ,mr4 ,goldman of ,new  
,york1 ,mr4 ,grijalva1 ,mr4 ,huffman1   
,ms4 ,jayapal1 ,mr4 ,johnson of         
,georgia1 ,mr4 ,khanna1 ,ms4 ,lee of    
,pennsylvania1 ,mr4 ,levin1 ,ms4 ,moore 
of ,wisconsin1 ,ms4 ,norton1 ,ms4       
,ocasio-,cortez1 ,ms4 ,pingree1 ,mr4    
,pocan1 ,mrs4 ,ramirez1 ,ms4 ,salinas1  
,ms4 ,snchez1 ,ms4 ,schakowsky1 ,ms4    
,tlaib1 ,mr4 ,tonko1 ,mr4 ,turner of    
,texas1 ,mr4 ,veasey1 ,ms4 ,velzquez1   
,ms4 ,williams of ,georgia1 and ,ms4    
,wilson of ,florida7 introduced the     

following bill2 which was referred to   
the ,committee on ,ways and ,means  ,a  
,,bill  ,to amend the ,social ,security 
,act and the ,internal ,revenue ,code of
 #aihf to include net investment income 
tax imposed in the ,federal ,hospital   
,insurance ,trust ,fund and to modify   
the net investment income tax4  #a4     
,short title ,this ,act may be cited as 
the ,assuring ,medicare's ,promise ,act 
of #bjbe4  #b4 ,inclusion of net        
investment income tax in ,hospital      
,insurance ,trust ,fund  7a7 ,in general
 ,section #ahag7;a7 of the ,social      
,security ,act 7#db ,u4,s4,c4           
#acie;i7a77 is amended--  7#a7 by       
striking and at the end of paragraph    
7#a72  7#b7 by striking the period at   
the end of paragraph 7#b7 and inserting 
2 and2 and  7#c7 by inserting after     
paragraph 7#b7 the following new        
paragraph3  7#c7 the taxes imposed by   
section #adaa of the ,internal ,revenue 
,code of #aihf reported to the          
,secretary of the ,treasury or the      

,secretary's delegate on tax returns    
under subtitle ,f of such ,code4  4  7b7
 ,effective date ,the amendments made by
 this section shall apply with respect  
to taxes imposed for taxable years      
beginning after ,december #ca1 #bjbe4   
#c4 ,application of net investment      
income tax to trade or business income  
of certain high income individuals  7a7 
,in general ,section #adaa of the       
,internal ,revenue ,code of #aihf is    
amended by adding at the end the        
following new subsection3  7f7          
,application to certain high income     
individuals  7#a7 ,in general ,in the   
case of any individual whose modified   
adjusted gross income for the taxable   
year exceeds the high income threshold  
amount1 subsection 7a77#a7 shall be     
applied by substituting the greater of  
specified net income or net investment  
income for net investment income in     
subparagraph 7,a7 thereof4  7#b7        
,phase-in of increase ,the increase in  
the tax imposed under subsection 7a77#a7

 by reason of the application of        
paragraph 7#a7 of this subsection shall 
not exceed the amount which bears the   
same ratio to the amount of such        
increase 7determined without regard to  
this paragraph7 as--  7,a7 the excess   
described in paragraph 7#a71 bears to   
7,b7 #ajj1jjj 7 such amount in the case 
of a married taxpayer 7as defined in    
section #ggjc7 filing a separate        
return74  7#c7 ,high income threshold   
amount ,for purposes of this subsection1
 the term high income threshold amount  
means-- 7,a7 except as provided in      
subparagraph 7,b7 or 7,c71 #djj1jjj1    
7,b7 in the case of a taxpayer making a 
joint return under section #fjac or a   
surviving spouse 7as defined in section 
#b7;a771 #ejj1jjj1 and  7,c7 in the case
 of a married taxpayer 7as defined in   
section #ggjc7 filing a separate return1
  of the dollar amount determined under 
subparagraph 7,b74  7#d7 ,specified net 
income ,for purposes of this section1   
the term specified net income means net 

investment income determined-- 7,a7     
without regard to the phrase other than 
such income which is derived in the     
ordinary course of a trade or business  
not described in paragraph 7#b71 in     
subsection 7c77#a77;,a77i71  7,b7       
without regard to the phrase described  
in paragraph 7#b7 in subsection         
7c77#a77;,a77ii71  7,c7 without regard  
to the phrase other than property held  
in a trade or business not described in 
paragraph 7#b7 in subsection            
7c77#a77;,a77iii71  7,d7 without regard 
to paragraphs 7#b71 7#c71 and 7#d7 of   
subsection 7c71 and  7,e7 by treating   
paragraphs 7#e7 and 7#f7 of section     
#dfi7;c7 7determined without regard to  
the phrase ,to the extent provided in   
regulations1 in such paragraph 7#f77 as 
applying for purposes of subsection 7c7 
of this section4  4  7b7 ,application to
 trusts and estates ,section            
#adaa7;a77#b77;,a7 of such ,code is     
amended by striking undistributed net   
investment income and inserting the     

greater of undistributed specified net  
income or undistributed net investment  
income4  7c7 ,clarifications with       
respect to determination of net         
investment income  7#a7 ,certain        
exceptions ,section #adaa7;c77#f7 of    
such ,code is amended to read as        
follows3  7#f7 ,special rules ,net      
investment income shall not include--   
7,a7 any item taken into account in     
determining self-employment income for  
such taxable year on which a tax is     
imposed by section #adja7;b71  7,b7     
wages received with respect to          
employment on which a tax is imposed    
under section #caja7;b7 or #cbja7;a7    
7including amounts taken into account   
under section #caba7v77#b771 and  7,c7  
wages received from the performance of  
services earned outside the ,united     
,states for a foreign employer4  4  7#b7
 ,net operating losses not taken into   
account ,section #adaa7;c77#a77;,b7 of  
such ,code is amended by inserting      
7other than section #agb7 after this    

subtitle4  7#c7 ,inclusion of certain   
foreign income  7,a7 ,in general        
,section #adaa7;c77#a77;,a7 of such     
,code is amended by striking and at the 
end of clause 7ii71 by striking over at 
the end of clause 7iii7 and inserting   
and1 and by adding at the end the       
following new clause3  7iv7 any amount  
includible in gross income under section
 #iea1 #iea;,a1 #abic1 or #abif1 over  4
  7,b7 ,proper treatment of certain     
previously taxed income ,section        
#adaa7;c7 of such ,code is amended by   
adding at the end the following new     
paragraph3  7#g7 ,certain previously    
taxed income ,the ,secretary shall issue
 regulations or other guidance providing
 for the treatment of-- 7,a7            
distributions of amounts previously     
included in gross income for purposes of
 chapter #a but not previously subject  
to tax under this section1 and  7,b7    
distributions described in section      
#ifb7;d74  4  7d7 ,effective date ,the  
amendments made by this section shall   

apply to taxable years beginning after  
,december #ca1 #bjbe4  7e7 ,transition  
rule ,the regulations or other guidance 
issued by the ,secretary under section  
#adaa7;c77#g7 of the ,internal ,revenue 
,code of #aihf 7as added by this        
section7 shall include provisions which 
provide for the proper coordination and 
application of clauses 7i7 and 7iv7 of  
section #adaa7;c77#a77;,a7 with respect 
to-- 7#a7 taxable years beginning on or 
before ,december #ca1 #bjbe1 and  7#b7  
taxable years beginning after such date4