I 
112TH CONGRESS 
1ST SESSION H. R. 1124 
To amend the Internal Revenue Code of 1986 to impose increased rates 
of tax with respect to taxpayers with more than $1,000,000 taxable 
income, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 16, 2011 
Ms. SCHAKOWSKY (for herself, Mr. GRIJALVA, Mr. ELLISON, Mr. JACKSON of 
Illinois, Ms. EDWARDS, Mr. FILNER, Mr. NADLER, Mr. COHEN, Mr. 
YARMUTH, and Mr. DEFAZIO) introduced the following bill; which was re-
ferred to the Committee on Ways and Means 
A BILL 
To amend the Internal Revenue Code of 1986 to impose 
increased rates of tax with respect to taxpayers with 
more than $1,000,000 taxable income, and for other 
purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Fairness in Taxation 
Act of 2011’’. 
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SEC. 2. INCREASED TAX RATES FOR TAXPAYERS WITH 
MORE THAN $1,000,000 TAXABLE INCOME. 
(a) IN GENERAL.— 
(1) MARRIED INDIVIDUALS FILING JOINT RE-
TURNS AND SURVIVING SPOUSES.—The table con-
tained in subsection (a) of section 1 is amended to 
read as follows: 
If taxable income is: 
The tax is: 
Not over $69,000 ..........................
15% of taxable income. 
Over 
$69,000 
but 
not 
over 
$139,350.
$10,350, plus 28% of the excess over 
$69,000. 
Over 
$139,350 
but 
not 
over 
$212,300.
$30,048, plus 31% of the excess over 
$139,350. 
Over 
$212,300 
but 
not 
over 
$379,150.
$52,662.50, plus 36% of the excess 
over $212,300. 
Over 
$379,150 
but 
not 
over 
$1,000,000.
$112,728.50, plus 39.6% of the ex-
cess over $379,150. 
Over $1,000,000 but not over 
$10,000,000.
$358,585.10, plus 45% of the excess 
over $1,000,000. 
Over $10,000,000 but not over 
$20,000,000.
$4,408,585.10, plus 46% of the ex-
cess over $10,000,000. 
Over $20,000,000 but not over 
$100,000,000.
$9,008,585.10, plus 47% of the ex-
cess over $20,000,000. 
Over $100,000,000 but not over 
$1,000,000,000.
$46,608,585.10, plus 48% of the ex-
cess over $100,000,000. 
Over $1,000,000,000 .....................
$478,608,585.10, plus 49% over the 
excess over $1,000,000,000. 
(2) HEADS OF HOUSEHOLD.—The table con-
tained in subsection (b) of section 1 of such Code is 
amended to read as follows: 
If taxable income is: 
The tax is: 
Not over $46,250 ..........................
15% of taxable income. 
Over 
$46,250 
but 
not 
over 
$119,400.
$6,937.50, plus 28% of the excess 
over $46,250. 
Over 
$119,400 
but 
not 
over 
$193,350.
$27,419.50, plus 31% of the excess 
over $119,400. 
Over 
$193,350 
but 
not 
over 
$379,150.
$50,344, plus 36% of the excess over 
$193,350. 
Over 
$379,150 
but 
not 
over 
$1,000,000.
$117,232, plus 39.6% of the excess 
over $379,150. 
Over $1,000,000 but not over 
$10,000,000.
$363,088.60, plus 45% of the excess 
over $1,000,000. 
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If taxable income is: 
The tax is: 
Over $10,000,000 but not over 
$20,000,000.
$4,413,088.60, plus 46% of the ex-
cess over $10,000,000. 
Over $20,000,000 but not over 
$100,000,000.
$9,013,088.60, plus 47% of the ex-
cess over $20,000,000. 
Over $100,000,000 but not over 
$1,000,000,000.
$46,613,088.60, plus 48% of the ex-
cess over $100,000,000. 
Over $1,000,000,000 .....................
$478,613,088.60, plus 49% of the ex-
cess over $1,000,000,000. 
(3) UNMARRIED
INDIVIDUALS
(OTHER
THAN 
SURVIVING
SPOUSES
AND
HEADS
OF
HOUSE-
HOLDS).—The table contained in subsection (c) of 
section 1 of such Code is amended to read as fol-
lows: 
If taxable income is: 
The tax is: 
Not over $34,500 ..........................
15% of taxable income. 
Over 
$34,500 
but 
not 
over 
$83,600.
$5,175, plus 28% of the excess over 
$34,500. 
Over 
$83,600 
but 
not 
over 
$174,400.
$18,923, plus 31% of the excess over 
$83,600. 
Over 
$174,400 
but 
not 
over 
$379,150.
$47,071, plus 36% of the excess over 
$174,400. 
Over 
$379,150 
but 
not 
over 
$1,000,000.
$120,781, plus 39.6% of the excess 
over $379,150. 
Over $1,000,000 but not over 
$10,000,000.
$366,637.60, plus 45% of the excess 
over $1,000,000. 
Over $10,000,000 but not over 
$20,000,000.
$4,416,637.60, plus 46% of the ex-
cess over $10,000,000. 
Over $20,000,000 but not over 
$100,000,000.
$9,016,637.60, plus 47% of the ex-
cess over $20,000,000. 
Over $100,000,000 but not over 
$1,000,000,000.
$46,616,637.60, plus 48% of the ex-
cess over $100,000,000. 
Over $1,000,000,000 .....................
$478,616,637.60, plus 49% of the ex-
cess over $1,000,000,000. 
(4) MARRIED INDIVIDUALS FILING SEPARATE 
RETURNS.—The table contained in subsection (d) of 
section 1 of such Code is amended to read as fol-
lows: 
If taxable income is: 
The tax is: 
Not over $34,500 ..........................
plus 15% of taxable income. 
Over 
$34,500 
but 
not 
over 
$69,675.
$5,175, plus 28% of the excess over 
$34,500. 
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‘‘(2) the amount of net capital gain of the tax-
payer taken into account for the taxable year under 
subsection (h) shall be reduced by the lesser of— 
‘‘(A) such excess, or 
‘‘(B) the net capital gain for the taxable 
year. 
Any reduction in net capital gain under the pre-
ceding sentence shall be allocated between adjusted 
net capital gain, unrecaptured 1250 gain, and sec-
tion 1202 gain in amounts proportionate to the 
amounts of each such gain.’’. 
(2) CONFORMING AMENDMENT.—Paragraph (1) 
of section 1(h) of such Code is amended by striking 
‘‘If a taxpayer has’’ and inserting ‘‘Except to the ex-
tent provided in subsection (j), if a taxpayer has’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2010. 
Æ 
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