HR 2912
Oligarch Act of 2025
Jurisdiction
US Congress
Session
119th Congress (2025-2026)
Last updated at
Jun 14, 2026, 6:43 AM
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
The Oligarch Act of 2025 proposes a new wealth tax on individuals and trusts with a net asset value exceeding a certain threshold. The tax would be tiered, with rates ranging from 2% to 8% depending on the size of the assets above the threshold. The bill establishes rules for determining taxable assets, reporting requirements, and enforcement mechanisms, including audits and potential extensions for payment. It also addresses issues related to deceased individuals, non-residents, and covered expatriates, and includes penalties for underreporting wealth valuations.
Sponsors
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Primary sponsor
Cosponsors
Eleanor Holmes [D-DC-At Large] Norton
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