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Dossier Legislative introduced 19-oct-2026
Bill introduced in Congress — not yet passed by either chamber, and not law.

To amend the Internal Revenue Code of 1986 to impose an excise tax on certain indebtedness, and for other purposes.

Key claim: A House bill would amend the tax code to create a new federal excise tax on certain kinds of debt.

Abstract

(HR10846 · 119th Congress) Latest action (2026-10-19): Referred to the House Committee on Ways and Means.

Why this matters

An excise tax on certain indebtedness would be a novel federal levy on debt itself rather than on income or transactions, potentially shifting who bears tax burden toward borrowers or specific debt issuers depending on scope. As an introduced House bill with limited public detail, it marks an early signal in tax policy rather than a change in law.

Source

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Briefing card

To amend the Internal Revenue Code of 1986 to impose an excise tax on certain indebtedness, and for other purposes.
Stage: introduced · congress · 19-oct-2026

If enacted, this would create a new federal excise tax on certain debt, but as an introduced bill it has no current effect on borrowers or lenders.

A House bill would amend the tax code to create a new federal excise tax on certain kinds of debt.

Cross-references (0)

None recorded — doctrine links and citations appear here as scans and citation sweeps find them.

External: congress:119-hr-10846:introduced

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