Probably never. Deficits, you know.
This sort of surtax is a stealth wealth tax. In a way, it also reminds me of the various charges that get added on to your phone and cable bill... they never go away either.
I share your pain.
In our case, it isn’t so much investments as it is the capital gains on our house, which we plan to sell shortly now that we are in retirement. Being in California, you can have quite a bit of capital gains on a home owned for 23 years and not be wealthy.
This is H.R. 184, authored by Erik Paulsen, R-MN. It is short (16 lines), amends IRS code and would relieve the tax on sales AFTER 31 Dec, 2019.
The roll call vote is at:
Compare with HR 1628. authored by Diane Black, R-TN. It passed the house on 4 May. Now about 130 pages long, it is bouncing around the Senate, but is back on the calendar. Section 210 repealed the medical device excise tax. Per the bill summary, Subtitle E—Repeal of Net Investment Income Tax
(Sec. 251) This section repeals the 3.8% tax on the net investment income of individuals, estates, and trusts with incomes above specified amounts.