Bill > S2789

This bill, titled the IDEA Full Funding Act, aims to amend the Individuals with Disabilities Education Act (IDEA) to provide full federal funding for Part B, which supports special education and related services for children with disabilities. Specifically, it proposes to authorize and appropriate significant sums of money for fiscal years 2015 through 2024 to cover these costs. To help fund this increased federal commitment, the bill also introduces a new "Fair Share Tax" on high-income taxpayers, defined as individuals with adjusted gross income exceeding $1,000,000 (adjusted for inflation and filing status). This tax would be calculated based on a percentage of their adjusted gross income above a certain threshold, after accounting for regular taxes, alternative minimum taxes, payroll taxes, and certain credits, with the goal of ensuring that those with higher incomes contribute more to support these essential educational services.