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UNITED STATES HOUSE OF REPRESENTATIVES
HOUSE BILL #0001
INTRODUCED BY REPRESENTATIVE HENRY MORGAN
NOVEMBER 19, 2024
PASSIVE BUSINESS INCOME SEIZURE AND REPEAL ACT 2024
AN ACT
To repeal passive business income and seize excessive capital gains to prevent an economic crisis.
IN THE UNITED STATES HOUSE OF REPRESENTATIVES:
CHAPTER I. GENERAL PROVISIONS
SECTION I. SHORT TITLE
(a) This bill shall be cited as the Passive Business Income Seizure and Repeal Act 2024.
SECTION II. DECLARATIONS AND FINDINGS
(a) It is the findings of the Treasury that reckless passive business income stimulus introduced by Congress before the 2024 election has skyrocketed and is highly beneficial to a minority of business owners.
(b) The Treasury notes that this risks creating severe economic inequality and is a gross misappropriation of funds.
(c) The Treasury notes that there is a genuine risk of an economic crisis if not repealed and seized immediately.
(d) The Treasury notes that some business owners will face seizures of money gained through businesses as a result, but cites the situation's urgency and the national interest.
SECTION III. PASSIVE INCOME STIMULUS
(a) Passive income stimulus shall be repealed per this bill.
(b) Provision of further federal stimulus shall cease immediately upon passage of this bill.
CHAPTER II. FINANCIAL SEIZURE
SECTION I. PASSIVE INCOME GAIN SEIZURES
(a) All passive income gains via the federal passive income stimulus earned after November 9, 2024, shall be seized by the Department of the Treasury immediately.
(b) Businesses shall not rely on federal stimulus but on private sector investment to promote economic growth and business prosperity.
UNITED STATES CONGRESS: EMERGENCY SESSION NOVEMBER 2024.
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UNITED STATES HOUSE OF REPRESENTATIVES
HOUSE BILL #0001 - VOTING SUMMARY AND RESULT
PASSIVE BUSINESS INCOME SEIZURE AND REPEAL ACT 2024: VOTE RECORD
YEAS: 3
MORGAN
CIST
DECKER
NAYS: 0
ABSTAIN: 1
ADAM
The bill is therefore passed and has been forwarded to the Senate.
UNITED STATES CONGRESS: EMERGENCY SESSION NOVEMBER 2024.
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UNITED STATES SENATE
SENATE BILL #0001
INTRODUCED BY SEN. ALFREDO SPAGHETTO
NOVEMBER 22, 2024
PASSIVE BUSINESS INCOME SEIZURE AND REPEAL ACT 2024
AN ACT
To repeal passive business income and seize excessive capital gains to prevent an economic crisis.
IN THE UNITED STATES SENATE:
CHAPTER I. GENERAL PROVISIONS
SECTION I. SHORT TITLE
(a) This bill shall be cited as the Passive Business Income Seizure and Repeal Act 2024.
SECTION II. DECLARATIONS AND FINDINGS
(a) It is the findings of the Treasury that reckless passive business income stimulus introduced by Congress before the 2024 election has skyrocketed and is highly beneficial to a minority of business owners.
(b) The Treasury notes that this risks creating severe economic inequality and is a gross misappropriation of funds.
(c) The Treasury notes that there is a genuine risk of an economic crisis if not repealed and seized immediately.
(d) The Treasury notes that some business owners will face seizures of money gained through businesses as a result, but cites the situation's urgency and the national interest.
SECTION III. PASSIVE INCOME STIMULUS
(a) Passive income stimulus shall be repealed per this bill.
(b) Provision of further federal stimulus shall cease immediately upon passage of this bill.
CHAPTER II. FINANCIAL SEIZURE
SECTION I. PASSIVE INCOME GAIN SEIZURES
(a) All passive income gains via the federal passive income stimulus earned after November 9, 2024, shall be seized by the Department of the Treasury immediately.
(b) Businesses shall not rely on federal stimulus but on private sector investment to promote economic growth and business prosperity.
UNITED STATES CONGRESS: EMERGENCY SESSION NOVEMBER 2024.
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UNITED STATES SENATE
SENATE BILL #0001 - VOTING SUMMARY AND RESULT
PASSIVE BUSINESS INCOME SEIZURE AND REPEAL ACT 2024: VOTE RECORD
YEAS: 3
SPAGHETTO
BADDEN
ALEJANDRO
NAYS: 0
ABSTAIN: 0
The bill is therefore passed and forwarded to the President of the United States.
UNITED STATES CONGRESS: EMERGENCY SESSION NOVEMBER 2024.
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PASSIVE BUSINESS INCOME SEIZURE AND REPEAL ACT 2024
29th November, 2024.
APPROVED.
Signed,
Marshall Carter
President of the United StatesTHE WHITE HOUSE
November 29, 2024
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UNITED STATES CONGRESS
PASSIVE BUSINESS INCOME SEIZURE AND REPEAL ACT 2024
AN ACT
To repeal passive business income and seize excessive capital gains to prevent an economic crisis.
CHAPTER I. GENERAL PROVISIONS
SECTION I. SHORT TITLE
(a) This bill shall be cited as the Passive Business Income Seizure and Repeal Act 2024.
SECTION II. DECLARATIONS AND FINDINGS
(a) It is the findings of the Treasury that reckless passive business income stimulus introduced by Congress before the 2024 election has skyrocketed and is highly beneficial to a minority of business owners.
(b) The Treasury notes that this risks creating severe economic inequality and is a gross misappropriation of funds.
(c) The Treasury notes that there is a genuine risk of an economic crisis if not repealed and seized immediately.
(d) The Treasury notes that some business owners will face seizures of money gained through businesses as a result, but cites the situation's urgency and the national interest.
SECTION III. PASSIVE INCOME STIMULUS
(a) Passive income stimulus shall be repealed per this bill.
(b) Provision of further federal stimulus shall cease immediately upon passage of this bill.
CHAPTER II. FINANCIAL SEIZURE
SECTION I. PASSIVE INCOME GAIN SEIZURES
(a) All passive income gains via the federal passive income stimulus earned after November 9, 2024, shall be seized by the Department of the Treasury immediately.
(b) Businesses shall not rely on federal stimulus but on private sector investment to promote economic growth and business prosperity.
UNITED STATES CONGRESS: EMERGENCY SESSION NOVEMBER 2024.
APPROVED, SIGNED AND COMMISSIONED INTO LAW PER NOVEMBER 29, 2024.(https://www.onlygfx.com/wp-content/uploads/2016/09/green-approved-stamp-2-768x672.png)
Signed,Marshall Carter
President of the United States
| | Alfredo Spaghetto
President pro tempore of the United States Senate
| | Ben Sparrow
Speaker of the United States House of Representatives
|