I 

116TH CONGRESS 

2D SESSION H. R. 8020 

To impose an emergency tax on the increase in wealth of billionaires during 

the COVID–19 pandemic in order to pay for all of the out-of-pocket 

healthcare expenses of the uninsured and under-insured, including prescription drugs, for one year. 

IN THE HOUSE OF REPRESENTATIVES 

AUGUST 11, 2020 

Ms. OMAR (for herself, Mrs. WATSON COLEMAN, Ms. OCASIO-CORTEZ, Ms. 

PRESSLEY, Ms. TLAIB, Ms. SCHAKOWSKY, Mr. HASTINGS, and Ms. 

JAYAPAL) introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committees on Energy 

and Commerce, Oversight and Reform, Veterans’ Affairs, Armed Services, and Natural Resources, for a period to be subsequently determined 

by the Speaker, in each case for consideration of such provisions as fall 

within the jurisdiction of the committee concerned 

A BILL 

To impose an emergency tax on the increase in wealth of 

billionaires during the COVID–19 pandemic in order to 

pay for all of the out-of-pocket healthcare expenses of 

the uninsured and under-insured, including prescription 

drugs, for one year. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 


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1 SECTION 1. SHORT TITLE. 

2 This Act may be cited as the ‘‘Make Billionaires Pay 

3 Act’’. 

4 TITLE I—PANDEMIC WEALTH 

5 TAX 

6 SEC. 101. IMPOSITION OF PANDEMIC WEALTH TAX. 

7 (a) IN GENERAL.—The Internal Revenue Code of 

8 1986 is amended by inserting after subtitle B the fol9 lowing new subtitle: 

10 ‘‘Subtitle B–1—Pandemic Wealth 

11 Tax 

‘‘CHAPTER 18—DETERMINATION OF WEALTH TAX

12 ‘‘CHAPTER 18—DETERMINATION OF 

13 WEALTH TAX 

‘‘Sec. 2901. Imposition of tax. 

‘‘Sec. 2902. Net value of assets. 

‘‘Sec. 2903. Special rules. 

14 ‘‘SEC. 2901. IMPOSITION OF TAX. 

15 ‘‘(a) IN GENERAL.—In the case of any applicable in16 dividual, there is hereby imposed a tax of 60 percent of 

17 the excess (if any) of— 

18 ‘‘(1) the net value of assets of the applicable in19 dividual on December 31, 2020, over 

20 ‘‘(2) the greater of— 

21 ‘‘(A) the net value of assets of the applica22 ble individual on March 18, 2020, or 

23 ‘‘(B) $1,000,000,000. 


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1 ‘‘(b) APPLICABLE INDIVIDUAL.—For purposes of this 

2 chapter, the term ‘applicable individual’ means any indi3 vidual whose assets have a net value on December 31, 

4 2020, of more than $1,000,000,000. 

5 ‘‘SEC. 2902. NET VALUE OF ASSETS. 

6 ‘‘(a) IN GENERAL.—The net value of assets held by 

7 an applicable individual as of any day shall be the excess 

8 of— 

9 ‘‘(1) the value of all property of the applicable 

10 individual, real or personal, tangible or intangible, 

11 wherever situated, on such day, over 

12 ‘‘(2) the amount of any debt owed by the appli13 cable individual on such day. 

14 ‘‘(b) INCLUSION OF CERTAIN GIFTS.—For purposes 

15 of this subtitle, any property transferred by an applicable 

16 individual during the period described in section 2901(a) 

17 to an individual who is a member of the family of the ap18 plicable individual (as determined under section 267(c)(4)) 

19 and has not attained the age of 18 shall be treated as 

20 property held by the taxpayer for any date before such 

21 individual attains the age of 18. 

22 ‘‘(c) ESTABLISHMENT OF VALUATION RULES.— 

23 ‘‘(1) AUTHORITY OF SECRETARY.—The Sec24 retary shall establish rules and methods for deterVerDate Sep 11 2014 00:29 Sep 03, 2020 Jkt 099200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H8020.IH H8020

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1 mining the value of any asset for purposes of this 

2 subtitle. 

3 ‘‘(2) GENERAL RULES.—Except as otherwise 

4 provided in this paragraph, the rules and methods 

5 established under paragraph (1) may be similar to 

6 the rules of part III of subchapter A of chapter 11 

7 (other than the rules of sections 2031(c), 2032A, 

8 2035, and 2044). 

9 ‘‘SEC. 2903. SPECIAL RULES. 

10 ‘‘(a) MARRIED INDIVIDUALS.—The Secretary shall 

11 by regulations establish rules for the application of this 

12 subtitle to married individuals. 

13 ‘‘(b) DECEASED INDIVIDUALS.—In the case of any 

14 individual who dies during the period described in section 

15 2901(a), section 2901(a) shall be applied by substituting 

16 the date of the individual’s death for ‘December 31, 2020’. 

17 ‘‘(c) ANTI-ABUSE RULES.—The Secretary shall pre18 scribe such rules as necessary to prevent the avoidance 

19 of the purposes of this section, including through the use 

20 of trusts.’’. 

21 (b) NO DEDUCTION FROM INCOME TAXES.—Section 

22 275 is amended by inserting after paragraph (6) the fol23 lowing new paragraph: 

24 ‘‘(7) Taxes imposed by chapter 18.’’. 


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1 (c) CLERICAL AMENDMENT.—The table of subtitles 

2 is amended by inserting after the item relating to subtitle 

3 B the following new item: 

‘‘Subtitle B–1—Pandemic Wealth Tax’’. 

4 TITLE II—REIMBURSEMENTS 

5 FOR CERTAIN COSTS OF 

6 HEALTH CARE ITEMS AND 

7 SERVICES INCLUDING PRE8 SCRIPTION DRUGS FUR9 NISHED DURING PUBLIC 

10 HEALTH EMERGENCY 

11 SEC. 201. REIMBURSEMENTS FOR CERTAIN COSTS OF 

12 HEALTH CARE ITEMS AND SERVICES INCLUD13 ING PRESCRIPTION DRUGS FURNISHED DUR14 ING PUBLIC HEALTH EMERGENCY. 

15 (a) IN GENERAL.—During the 1-year period that be16 gins on the date of enactment of this Act, the Secretary 

17 shall make payments to qualified providers with respect 

18 to applicable health care items and services as defined in 

19 subsection (b) that are furnished to an applicable indi20 vidual in an amount equal to— 

21 (1) in the case of any portion of such period in 

22 which an applicable individual is enrolled in a public 

23 or private health insurance plan, the amount of any 

24 cost sharing, including any deductibles, copayments, 

25 coinsurance or similar charges, that would otherwise 


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1 be applicable under such plan, including with respect 

2 to prescription drug coverage under the plan; and 

3 (2) in the case of any portion of such period in 

4 which an applicable individual is uninsured, the 

5 amount that would be paid to the qualified provider 

6 for the same or equivalent items or services, includ7 ing with respect to any inpatient or physician-admin8 istered drugs (and excluding outpatient prescription 

9 drugs or biologicals with respect to which coverage 

10 is provided under subsection (e)), under the Medi11 care program under title XVIII of the Social Secu12 rity Act (42 U.S.C. 1395 et seq.). 

13 (b) APPLICABLE HEALTH CARE ITEMS AND SERV14 ICES; APPLICABLE INDIVIDUAL DEFINED.—In this sec15 tion: 

16 (1) APPLICABLE HEALTH CARE ITEMS AND

17 SERVICES.—The term ‘‘applicable health care items 

18 and services’’ means, with respect to an applicable 

19 individual, any health care items and services that 

20 are medically necessary or appropriate for the main21 tenance of health or for the diagnosis, treatment, or 

22 rehabilitation of a health condition of the applicable 

23 individual, including— 

24 (A) any testing services and treatments for 

25 COVID–19 or related complications, including 


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1 vaccines, diagnostic tests, drugs and biologicals, 

2 and therapies; and 

3 (B) in the case of an applicable individual 

4 who is enrolled in a public or private health in5 surance plan, any health care items and serv6 ices covered by such plan as of March 1, 2020, 

7 or in the case of an applicable individual who 

8 enrolls in such plan after the date, any health 

9 care items and services covered by such plan as 

10 of the date of such enrollment. 

11 (2) APPLICABLE INDIVIDUAL.—The term ‘‘ap12 plicable individual’’ means an individual who is a 

13 resident of the United States. 

14 (c) REQUIREMENTS.— 

15 (1) NO EFFECT ON APPLICABLE COST-SHARING

16 REQUIREMENTS.—Nothing in this section shall af17 fect the application of any requirements applicable 

18 under Federal or State law with respect to coverage 

19 of health care items and services without any cost 

20 sharing. 

21 (2) MAINTENANCE OF EFFORT.— 

22 (A) IN GENERAL.—During the period de23 scribed in subsection (a), a public or private 

24 health plan shall not increase cost sharing, de25 crease benefits, or otherwise make coverage less 


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1 generous than the benefits offered on the date 

2 of enactment of this Act. 

3 (B) NEW ITEMS AND SERVICES.—During 

4 such period, a public or private health plan 

5 shall provide coverage of new items and serv6 ices, including those related to COVID–19, as 

7 appropriate, at a minimum, at a level consistent 

8 with the prior coverage practices and 

9 formularies of the plan. 

10 (3) LIMITATION ON OUT-OF-POCKET EX11 PENSES.—During such period, in order to be eligible 

12 to receive payments under this section, a qualified 

13 provider shall agree not to impose on an applicable 

14 individual any charge for applicable health care 

15 items and services furnished to the applicable indi16 vidual. 

17 (4) PERMISSIBLE BILLING OF PLANS; LIMITA18 TION ON BALANCE BILLING.—During such period, in 

19 order to be eligible to receive payments under this 

20 section, a qualified provider shall agree, with respect 

21 to applicable health care items and services fur22 nished to an applicable individual when such indi23 vidual is enrolled in a public or private health insur24 ance plan— 


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1 (A) not to impose any charge on the plan 

2 for such items and services beyond the amount 

3 otherwise payable by the plan; and 

4 (B) not to bill the applicable individual for 

5 any amounts in excess of the amount described 

6 in subparagraph (A). 

7 (5) MEDICAL DEBT COLLECTION.—A qualified 

8 provider shall agree— 

9 (A) to immediately halt all medical debt 

10 collection, including collection activities carried 

11 out by third parties, during such period and 

12 shall not collect medical debt or have third par13 ties collect medical debt for applicable health 

14 care items and services furnished during such 

15 period; and 

16 (B) to refrain from pursuing medical debt 

17 collection, including collection activities carried 

18 out by third parties, after such period with re19 spect to items and services related to the diag20 nosis or treatment of COVID–19 (regardless of 

21 whether such services were furnished before, 

22 during, or after such period) and shall not col23 lect medical debt or have third parties collect 

24 medical debt for such items or services after 

25 such period. 


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1 (6) SUBMISSION OF BILLS AND DOCUMENTA2 TION.—A qualified provider shall agree to submit 

3 bills and any required supporting documentation re4 lating to the provision of applicable health care 

5 items and services within 30 days after the date of 

6 providing such services, in such manner as the Sec7 retary determines appropriate. 

8 (d) WAIVER OF LATE ENROLLMENT PENALTIES

9 UNDER MEDICARE.—During the period described in sub10 section (a), no increase in the monthly premium of an indi11 vidual pursuant to section 1818(c), 1839(b), or 1860D– 

12 13 of the Social Security Act (42 U.S.C. 1395i–2(c), 

13 1395r(b), 1395w–113) shall be effected in the case of any 

14 individual who enrolls for benefits under title XVIII of 

15 such Act with respect to any period prior to the date of 

16 such enrollment. 

17 (e) COVERAGE WITH RESPECT TO OUTPATIENT PRE18 SCRIPTION DRUGS.— 

19 (1) IN GENERAL.—During the period described 

20 in subsection (a), with respect to outpatient pre21 scription drugs or biologicals described in subsection 

22 (b)(1)(A) that are dispensed to uninsured individ23 uals, the Secretary shall establish procedures under 

24 which— 


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1 (A) such drugs or biologicals are dispensed 

2 at no cost to such individuals; 

3 (B) pharmacies that dispense such drugs 

4 or biologicals— 

5 (i) are reimbursed by the Secretary 

6 for such drugs or biologicals dispensed to 

7 such individuals at an amount equal to the 

8 price paid by the Secretary of Veterans Af9 fairs to procure the drug or biological 

10 under the laws administered by the Sec11 retary of Veterans Affairs; and 

12 (ii) agree not to charge such individ13 uals for any difference between the amount 

14 reimbursed under clause (i) and the cost to 

15 the pharmacy for the drug; and 

16 (C) manufacturers of such drugs or 

17 biologicals reimburse pharmacies for any dif18 ference described in subparagraph (B)(ii) with 

19 respect to drugs or biologicals of the manufac20 turer that are dispensed to such individuals. 

21 (2) CONDITION OF COVERAGE UNDER MEDI22 CARE.—During the period described in subsection 

23 (a), no coverage may be provided under part B or 

24 D of title XVIII of the Social Security Act (42 

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1 spect to a drug or biological of a manufacturer if the 

2 manufacturer does not enter into an agreement with 

3 the Secretary to carry out the requirements applica4 ble with respect to such manufacturers under this 

5 subsection. 

6 (3) REQUIREMENT FOR PARTICIPATING PHAR7 MACIES.—During the period described in subsection 

8 (a), a prescription drug plan under part D of title 

9 XVIII of the Social Security Act (42 U.S.C. 1395w– 

10 101 et seq.) may not contract with a pharmacy if 

11 the pharmacy does not enter into an agreement with 

12 the Secretary to carry out the requirements applica13 ble with respect to pharmacies under this subsection. 

14 (f) OTHER DEFINITIONS.— 

15 (1) PUBLIC OR PRIVATE HEALTH INSURANCE

16 PLAN.— 

17 (A) IN GENERAL.—The term ‘‘public or 

18 private health insurance plan’’ means any of 

19 the following: 

20 (i) A group health plan, or group 

21 health insurance coverage, as such terms 

22 are defined in section 2791 of the Public 

23 Health Service Act (42 U.S.C. 300gg–91). 

24 (ii) A qualified health plan, as defined 

25 in section 1301 of the Patient Protection 


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1 and Affordable Care Act (42 U.S.C. 

2 18021). 

3 (iii) Subject to subparagraph (B), any 

4 health insurance coverage (other than a 

5 plan described in clause (ii)) offered in the 

6 individual market, as such terms are de7 fined in section 2791 of the Public Health 

8 Service Act, including any short-term lim9 ited duration insurance. 

10 (iv) A health plan offered under chap11 ter 89 of title 5, United States Code. 

12 (v) A Federal health care program (as 

13 defined under section 1128B(f) of the So14 cial Security Act (42 U.S.C. 1320a– 

15 7b(f))), including— 

16 (I) health benefits furnished 

17 under the TRICARE program (as de18 fined in section 1072 of title 10, 

19 United States Code); 

20 (II) health benefits furnished to 

21 veterans under the laws administered 

22 by the Secretary of Veterans Affairs; 

23 and 

24 (III) health benefits furnished to 

25 Indians (as defined in section 4 of the 


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1 Indian Health Care Improvement Act 

2 (25 U.S.C. 1603)) receiving health 

3 services through the Indian Health 

4 Service, including through an Urban 

5 Indian Organization, regardless of 

6 whether such benefits are for items or 

7 services that have been authorized 

8 under the purchased/referred care sys9 tem funded by the Indian Health 

10 Service or are covered as a health 

11 service of the Indian Health Service. 

12 (B) LIMITATION ON INDIVIDUAL HEALTH

13 INSURANCE COVERAGE.—The term ‘‘public or 

14 private health insurance coverage’’ includes the 

15 health insurance coverage described in clause 

16 (iii) of subparagraph (A) only with respect to 

17 an individual who is enrolled in such coverage 

18 on March 1, 2020. 

19 (2) QUALIFIED PROVIDER.—The term ‘‘quali20 fied provider’’ means a health care provider who is 

21 a participating provider under the Medicare program 

22 under title XVIII of the Social Security Act (42 

23 U.S.C. 1395 et seq.). Such term includes a health 

24 care provider who is not a participating provider 

25 under such program if the health care provider 


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1 would meet the criteria for such participation and, 

2 if the State requires the health care provider to be 

3 licensed by the State, is licensed by the State in 

4 which the items or services are furnished. 

5 (3) SECRETARY.—The term ‘‘Secretary’’ means 

6 the Secretary of Health and Human Services. 

7 (g) IMPLEMENTATION.— 

8 (1) IN GENERAL.—The Secretary, in coordina9 tion with the Secretary of the Treasury, the Com10 missioner of Social Security, and the Secretary of 

11 Labor, shall implement the provisions of this section 

12 not later than the date that is 7 days after the date 

13 of the enactment of this Act. 

14 (2) ENSURING TIMELY PAYMENT.—The Sec15 retary shall establish a process and issue such guid16 ance as is necessary to ensure a qualified provider 

17 receives payments under this section in a timely 

18 manner. 

19 (3) ENSURING COLLECTION OF DATA ON DIS20 PARITIES.—The Secretary shall implement this sec21 tion in a manner and issue such guidance as is nec22 essary to allow for the ongoing, accurate, and timely 

23 collection and analysis of data on disparities in ac24 cordance with subsection (h). 

25 (h) COLLECTION OF DATA ON DISPARITIES.— 


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1 (1) IN GENERAL.—During the period described 

2 in subsection (a), the Secretary shall collect data on 

3 disparities across race, ethnicity, primary language, 

4 gender, sexual orientation, disability status, age, ge5 ographic area, insurance status, and socioeconomic 

6 status— 

7 (A) in health outcomes and access to 

8 health care related to the COVID–19 outbreak, 

9 including data on COVID–19 cases, treatment, 

10 and deaths; and 

11 (B) in patient access to applicable health 

12 care items and services under this section. 

13 (2) PUBLIC AVAILABILITY.—The Secretary 

14 shall— 

15 (A) make data collected under this sub16 section publicly available on the internet website 

17 of the Department of Health and Human Serv18 ices as soon as is practicable, but not later than 

19 30 days after the date of enactment of this Act, 

20 in a manner that allows researchers, scholars, 

21 health care providers, and others to access and 

22 analyze such data, without compromising pa23 tient privacy; and 


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1 (B) update such data on a weekly basis 

2 thereafter for the duration of the period de3 scribed in subsection (a). 

4 (i) WEEKLY REPORTS TO CONGRESS.— 

5 (1) IN GENERAL.—On a weekly basis during 

6 the period described in subsection (a), the Secretary 

7 shall report to Congress on— 

8 (A) the implementation of this section, in9 cluding information on the amount, type, and 

10 geographic distribution of payments to qualified 

11 providers under this section; and 

12 (B) any disparities in health and access to 

13 health care related to the COVID–19 outbreak 

14 or patient access to applicable health care items 

15 and services under this section, as identified 

16 through the collection and analysis of data col17 lected under subsection (h). 

18 (2) PUBLIC AVAILABILITY.—The Secretary 

19 shall make each report submitted under paragraph 

20 (1) publicly available on the internet website of the 

21 Department of Health and Human Services. 

22 (j) FUNDING.—There are authorized to be appro23 priated $400,000,000,000 to carry out this section. 

Æ 


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