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 pre-
scription 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 Com-
mittee on Ways and Means, and in addition to the Committees on Energy 
and Commerce, Oversight and Reform, Veterans’ Affairs, Armed Serv-
ices, 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. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Make Billionaires Pay 
Act’’. 
TITLE I—PANDEMIC WEALTH 
TAX 
SEC. 101. IMPOSITION OF PANDEMIC WEALTH TAX. 
(a) IN GENERAL.—The Internal Revenue Code of 
1986 is amended by inserting after subtitle B the fol-
lowing new subtitle: 
‘‘Subtitle B–1—Pandemic Wealth 
Tax 
‘‘CHAPTER 18—DETERMINATION OF WEALTH TAX 
‘‘CHAPTER 18—DETERMINATION OF 
WEALTH TAX 
‘‘Sec. 2901. Imposition of tax. 
‘‘Sec. 2902. Net value of assets. 
‘‘Sec. 2903. Special rules. 
‘‘SEC. 2901. IMPOSITION OF TAX. 
‘‘(a) IN GENERAL.—In the case of any applicable in-
dividual, there is hereby imposed a tax of 60 percent of 
the excess (if any) of— 
‘‘(1) the net value of assets of the applicable in-
dividual on December 31, 2020, over 
‘‘(2) the greater of— 
‘‘(A) the net value of assets of the applica-
ble individual on March 18, 2020, or 
‘‘(B) $1,000,000,000. 
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‘‘(b) APPLICABLE INDIVIDUAL.—For purposes of this 
chapter, the term ‘applicable individual’ means any indi-
vidual whose assets have a net value on December 31, 
2020, of more than $1,000,000,000. 
‘‘SEC. 2902. NET VALUE OF ASSETS. 
‘‘(a) IN GENERAL.—The net value of assets held by 
an applicable individual as of any day shall be the excess 
of— 
‘‘(1) the value of all property of the applicable 
individual, real or personal, tangible or intangible, 
wherever situated, on such day, over 
‘‘(2) the amount of any debt owed by the appli-
cable individual on such day. 
‘‘(b) INCLUSION OF CERTAIN GIFTS.—For purposes 
of this subtitle, any property transferred by an applicable 
individual during the period described in section 2901(a) 
to an individual who is a member of the family of the ap-
plicable individual (as determined under section 267(c)(4)) 
and has not attained the age of 18 shall be treated as 
property held by the taxpayer for any date before such 
individual attains the age of 18. 
‘‘(c) ESTABLISHMENT OF VALUATION RULES.— 
‘‘(1) AUTHORITY
OF
SECRETARY.—The Sec-
retary shall establish rules and methods for deter-
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mining the value of any asset for purposes of this 
subtitle. 
‘‘(2) GENERAL
RULES.—Except as otherwise 
provided in this paragraph, the rules and methods 
established under paragraph (1) may be similar to 
the rules of part III of subchapter A of chapter 11 
(other than the rules of sections 2031(c), 2032A, 
2035, and 2044). 
‘‘SEC. 2903. SPECIAL RULES. 
‘‘(a) MARRIED INDIVIDUALS.—The Secretary shall 
by regulations establish rules for the application of this 
subtitle to married individuals. 
‘‘(b) DECEASED INDIVIDUALS.—In the case of any 
individual who dies during the period described in section 
2901(a), section 2901(a) shall be applied by substituting 
the date of the individual’s death for ‘December 31, 2020’. 
‘‘(c) ANTI-ABUSE RULES.—The Secretary shall pre-
scribe such rules as necessary to prevent the avoidance 
of the purposes of this section, including through the use 
of trusts.’’. 
(b) NO DEDUCTION FROM INCOME TAXES.—Section 
275 is amended by inserting after paragraph (6) the fol-
lowing new paragraph: 
‘‘(7) Taxes imposed by chapter 18.’’. 
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(c) CLERICAL AMENDMENT.—The table of subtitles 
is amended by inserting after the item relating to subtitle 
B the following new item: 
‘‘Subtitle B–1—Pandemic Wealth Tax’’. 
TITLE 
II—REIMBURSEMENTS 
FOR 
CERTAIN 
COSTS 
OF 
HEALTH 
CARE 
ITEMS 
AND 
SERVICES 
INCLUDING 
PRE-
SCRIPTION 
DRUGS 
FUR-
NISHED 
DURING 
PUBLIC 
HEALTH EMERGENCY 
SEC. 201. REIMBURSEMENTS FOR CERTAIN COSTS OF 
HEALTH CARE ITEMS AND SERVICES INCLUD-
ING PRESCRIPTION DRUGS FURNISHED DUR-
ING PUBLIC HEALTH EMERGENCY. 
(a) IN GENERAL.—During the 1-year period that be-
gins on the date of enactment of this Act, the Secretary 
shall make payments to qualified providers with respect 
to applicable health care items and services as defined in 
subsection (b) that are furnished to an applicable indi-
vidual in an amount equal to— 
(1) in the case of any portion of such period in 
which an applicable individual is enrolled in a public 
or private health insurance plan, the amount of any 
cost sharing, including any deductibles, copayments, 
coinsurance or similar charges, that would otherwise 
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be applicable under such plan, including with respect 
to prescription drug coverage under the plan; and 
(2) in the case of any portion of such period in 
which an applicable individual is uninsured, the 
amount that would be paid to the qualified provider 
for the same or equivalent items or services, includ-
ing with respect to any inpatient or physician-admin-
istered drugs (and excluding outpatient prescription 
drugs or biologicals with respect to which coverage 
is provided under subsection (e)), under the Medi-
care program under title XVIII of the Social Secu-
rity Act (42 U.S.C. 1395 et seq.). 
(b) APPLICABLE HEALTH CARE ITEMS AND SERV-
ICES; APPLICABLE INDIVIDUAL DEFINED.—In this sec-
tion: 
(1) APPLICABLE
HEALTH
CARE
ITEMS
AND 
SERVICES.—The term ‘‘applicable health care items 
and services’’ means, with respect to an applicable 
individual, any health care items and services that 
are medically necessary or appropriate for the main-
tenance of health or for the diagnosis, treatment, or 
rehabilitation of a health condition of the applicable 
individual, including— 
(A) any testing services and treatments for 
COVID–19 or related complications, including 
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vaccines, diagnostic tests, drugs and biologicals, 
and therapies; and 
(B) in the case of an applicable individual 
who is enrolled in a public or private health in-
surance plan, any health care items and serv-
ices covered by such plan as of March 1, 2020, 
or in the case of an applicable individual who 
enrolls in such plan after the date, any health 
care items and services covered by such plan as 
of the date of such enrollment. 
(2) APPLICABLE INDIVIDUAL.—The term ‘‘ap-
plicable individual’’ means an individual who is a 
resident of the United States. 
(c) REQUIREMENTS.— 
(1) NO EFFECT ON APPLICABLE COST-SHARING 
REQUIREMENTS.—Nothing in this section shall af-
fect the application of any requirements applicable 
under Federal or State law with respect to coverage 
of health care items and services without any cost 
sharing. 
(2) MAINTENANCE OF EFFORT.— 
(A) IN GENERAL.—During the period de-
scribed in subsection (a), a public or private 
health plan shall not increase cost sharing, de-
crease benefits, or otherwise make coverage less 
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generous than the benefits offered on the date 
of enactment of this Act. 
(B) NEW ITEMS AND SERVICES.—During 
such period, a public or private health plan 
shall provide coverage of new items and serv-
ices, including those related to COVID–19, as 
appropriate, at a minimum, at a level consistent 
with 
the 
prior 
coverage 
practices 
and 
formularies of the plan. 
(3) 
LIMITATION
ON
OUT-OF-POCKET
EX-
PENSES.—During such period, in order to be eligible 
to receive payments under this section, a qualified 
provider shall agree not to impose on an applicable 
individual any charge for applicable health care 
items and services furnished to the applicable indi-
vidual. 
(4) PERMISSIBLE BILLING OF PLANS; LIMITA-
TION ON BALANCE BILLING.—During such period, in 
order to be eligible to receive payments under this 
section, a qualified provider shall agree, with respect 
to applicable health care items and services fur-
nished to an applicable individual when such indi-
vidual is enrolled in a public or private health insur-
ance plan— 
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(A) not to impose any charge on the plan 
for such items and services beyond the amount 
otherwise payable by the plan; and 
(B) not to bill the applicable individual for 
any amounts in excess of the amount described 
in subparagraph (A). 
(5) MEDICAL DEBT COLLECTION.—A qualified 
provider shall agree— 
(A) to immediately halt all medical debt 
collection, including collection activities carried 
out by third parties, during such period and 
shall not collect medical debt or have third par-
ties collect medical debt for applicable health 
care items and services furnished during such 
period; and 
(B) to refrain from pursuing medical debt 
collection, including collection activities carried 
out by third parties, after such period with re-
spect to items and services related to the diag-
nosis or treatment of COVID–19 (regardless of 
whether such services were furnished before, 
during, or after such period) and shall not col-
lect medical debt or have third parties collect 
medical debt for such items or services after 
such period. 
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(6) SUBMISSION OF BILLS AND DOCUMENTA-
TION.—A qualified provider shall agree to submit 
bills and any required supporting documentation re-
lating to the provision of applicable health care 
items and services within 30 days after the date of 
providing such services, in such manner as the Sec-
retary determines appropriate. 
(d) WAIVER
OF LATE ENROLLMENT PENALTIES 
UNDER MEDICARE.—During the period described in sub-
section (a), no increase in the monthly premium of an indi-
vidual pursuant to section 1818(c), 1839(b), or 1860D– 
13 of the Social Security Act (42 U.S.C. 1395i–2(c), 
1395r(b), 1395w–113) shall be effected in the case of any 
individual who enrolls for benefits under title XVIII of 
such Act with respect to any period prior to the date of 
such enrollment. 
(e) COVERAGE WITH RESPECT TO OUTPATIENT PRE-
SCRIPTION DRUGS.— 
(1) IN GENERAL.—During the period described 
in subsection (a), with respect to outpatient pre-
scription drugs or biologicals described in subsection 
(b)(1)(A) that are dispensed to uninsured individ-
uals, the Secretary shall establish procedures under 
which— 
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(A) such drugs or biologicals are dispensed 
at no cost to such individuals; 
(B) pharmacies that dispense such drugs 
or biologicals— 
(i) are reimbursed by the Secretary 
for such drugs or biologicals dispensed to 
such individuals at an amount equal to the 
price paid by the Secretary of Veterans Af-
fairs to procure the drug or biological 
under the laws administered by the Sec-
retary of Veterans Affairs; and 
(ii) agree not to charge such individ-
uals for any difference between the amount 
reimbursed under clause (i) and the cost to 
the pharmacy for the drug; and 
(C) manufacturers of such drugs or 
biologicals reimburse pharmacies for any dif-
ference described in subparagraph (B)(ii) with 
respect to drugs or biologicals of the manufac-
turer that are dispensed to such individuals. 
(2) CONDITION
OF
COVERAGE
UNDER
MEDI-
CARE.—During the period described in subsection 
(a), no coverage may be provided under part B or 
D of title XVIII of the Social Security Act (42 
U.S.C. 1395j et seq., 1395w–101 et seq.) with re-
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spect to a drug or biological of a manufacturer if the 
manufacturer does not enter into an agreement with 
the Secretary to carry out the requirements applica-
ble with respect to such manufacturers under this 
subsection. 
(3) REQUIREMENT FOR PARTICIPATING PHAR-
MACIES.—During the period described in subsection 
(a), a prescription drug plan under part D of title 
XVIII of the Social Security Act (42 U.S.C. 1395w– 
101 et seq.) may not contract with a pharmacy if 
the pharmacy does not enter into an agreement with 
the Secretary to carry out the requirements applica-
ble with respect to pharmacies under this subsection. 
(f) OTHER DEFINITIONS.— 
(1) PUBLIC OR PRIVATE HEALTH INSURANCE 
PLAN.— 
(A) IN
GENERAL.—The term ‘‘public or 
private health insurance plan’’ means any of 
the following: 
(i) A group health plan, or group 
health insurance coverage, as such terms 
are defined in section 2791 of the Public 
Health Service Act (42 U.S.C. 300gg–91). 
(ii) A qualified health plan, as defined 
in section 1301 of the Patient Protection 
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and Affordable Care Act (42 U.S.C. 
18021). 
(iii) Subject to subparagraph (B), any 
health insurance coverage (other than a 
plan described in clause (ii)) offered in the 
individual market, as such terms are de-
fined in section 2791 of the Public Health 
Service Act, including any short-term lim-
ited duration insurance. 
(iv) A health plan offered under chap-
ter 89 of title 5, United States Code. 
(v) A Federal health care program (as 
defined under section 1128B(f) of the So-
cial Security Act (42 U.S.C. 1320a– 
7b(f))), including— 
(I) 
health 
benefits 
furnished 
under the TRICARE program (as de-
fined in section 1072 of title 10, 
United States Code); 
(II) health benefits furnished to 
veterans under the laws administered 
by the Secretary of Veterans Affairs; 
and 
(III) health benefits furnished to 
Indians (as defined in section 4 of the 
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Indian Health Care Improvement Act 
(25 U.S.C. 1603)) receiving health 
services through the Indian Health 
Service, including through an Urban 
Indian Organization, regardless of 
whether such benefits are for items or 
services that have been authorized 
under the purchased/referred care sys-
tem funded by the Indian Health 
Service or are covered as a health 
service of the Indian Health Service. 
(B) LIMITATION ON INDIVIDUAL HEALTH 
INSURANCE COVERAGE.—The term ‘‘public or 
private health insurance coverage’’ includes the 
health insurance coverage described in clause 
(iii) of subparagraph (A) only with respect to 
an individual who is enrolled in such coverage 
on March 1, 2020. 
(2) QUALIFIED PROVIDER.—The term ‘‘quali-
fied provider’’ means a health care provider who is 
a participating provider under the Medicare program 
under title XVIII of the Social Security Act (42 
U.S.C. 1395 et seq.). Such term includes a health 
care provider who is not a participating provider 
under such program if the health care provider 
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would meet the criteria for such participation and, 
if the State requires the health care provider to be 
licensed by the State, is licensed by the State in 
which the items or services are furnished. 
(3) SECRETARY.—The term ‘‘Secretary’’ means 
the Secretary of Health and Human Services. 
(g) IMPLEMENTATION.— 
(1) IN GENERAL.—The Secretary, in coordina-
tion with the Secretary of the Treasury, the Com-
missioner of Social Security, and the Secretary of 
Labor, shall implement the provisions of this section 
not later than the date that is 7 days after the date 
of the enactment of this Act. 
(2) ENSURING
TIMELY
PAYMENT.—The Sec-
retary shall establish a process and issue such guid-
ance as is necessary to ensure a qualified provider 
receives payments under this section in a timely 
manner. 
(3) ENSURING COLLECTION OF DATA ON DIS-
PARITIES.—The Secretary shall implement this sec-
tion in a manner and issue such guidance as is nec-
essary to allow for the ongoing, accurate, and timely 
collection and analysis of data on disparities in ac-
cordance with subsection (h). 
(h) COLLECTION OF DATA ON DISPARITIES.— 
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(1) IN GENERAL.—During the period described 
in subsection (a), the Secretary shall collect data on 
disparities across race, ethnicity, primary language, 
gender, sexual orientation, disability status, age, ge-
ographic area, insurance status, and socioeconomic 
status— 
(A) in health outcomes and access to 
health care related to the COVID–19 outbreak, 
including data on COVID–19 cases, treatment, 
and deaths; and 
(B) in patient access to applicable health 
care items and services under this section. 
(2) 
PUBLIC
AVAILABILITY.—The 
Secretary 
shall— 
(A) make data collected under this sub-
section publicly available on the internet website 
of the Department of Health and Human Serv-
ices as soon as is practicable, but not later than 
30 days after the date of enactment of this Act, 
in a manner that allows researchers, scholars, 
health care providers, and others to access and 
analyze such data, without compromising pa-
tient privacy; and 
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(B) update such data on a weekly basis 
thereafter for the duration of the period de-
scribed in subsection (a). 
(i) WEEKLY REPORTS TO CONGRESS.— 
(1) IN GENERAL.—On a weekly basis during 
the period described in subsection (a), the Secretary 
shall report to Congress on— 
(A) the implementation of this section, in-
cluding information on the amount, type, and 
geographic distribution of payments to qualified 
providers under this section; and 
(B) any disparities in health and access to 
health care related to the COVID–19 outbreak 
or patient access to applicable health care items 
and services under this section, as identified 
through the collection and analysis of data col-
lected under subsection (h). 
(2) 
PUBLIC
AVAILABILITY.—The 
Secretary 
shall make each report submitted under paragraph 
(1) publicly available on the internet website of the 
Department of Health and Human Services. 
(j) FUNDING.—There are authorized to be appro-
priated $400,000,000,000 to carry out this section. 
Æ 
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