HR 8085 · 119th Congress

Ultra-Millionaire Tax Act of 2026

This bill creates a new federal wealth tax on ultra-wealthy Americans. Starting in 2027, individuals with more than $50 million in total assets would owe a 2% annual tax on the value of assets above that threshold. For assets exceeding $1 billion, the tax rate jumps to 3%, or potentially 6% if Congress passes a univ…

Sponsor

Jayapal, Pramila (D-Washington)

Introduced

2026-03-25

Policy area

Taxation