Introduced. Latest step, Mar 25, 2026: Referred to the House Committee on Ways and Means. It would change 3 sections of existing law and would add 2 new provisions of its own.
How this bill changes the law
Sourced
H.R. 8085 would change 3 sections of existing law, and would create 2 new provisions of its own. Read from the bill text as introduced in the House (Mar 25, 2026).
adds
changes words
removes or repeals
renumbers
Dashed lines: proposed, not law.
H.R. 8085Bill
Sec. 2(b)No deduction from income taxes1 change
Sec. 2(c)In general1 change
Sec. 2(d)In general1 change
Sec. 3Strengthening disclosure requirementsnew law
(3) Wealth tax.—(A) In general.— In the case of taxpayer described in subparagraph (B), the Secretary may extend the time for payment of the tax imposed under chapter 18 for a reasonable period not to exceed 5 years from the date fixed for the payment thereof.(B) Taxpayers described.— A taxpayer is described in this subparagraph if such the Secretary determines—(i) the taxpayer has severe liquidity constraints, or(ii) immediate payment would cause undue hardship on an ongoing enterprise.
The bill says: Section 6161(a) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: