A bill to impose a minimum tax on individuals, based on economic income.

Imposes a tax, under the Internal Revenue Code, as an alternative to the income tax, minimum tax, and the capital gains tax, equal to 14 percent of the amount by which the taxpayer's economic income for the taxable year exceeds $40,000, but only if such alternative tax is greater than the tax liability under the income tax, minimum tax, and capital gains tax.