HR 8085
Ultra-Millionaire Tax Act of 2026
Jurisdiction
US Congress
Session
119th Congress (2025-2026)
Last updated at
Jun 14, 2026, 1:34 AM
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
The Ultra-Millionaire Tax Act of 2026 proposes a new tax on the net value of assets held by individuals with substantial wealth. It establishes a tiered tax system, with a 0% rate on assets up to $50 million, a 2% rate on assets between $50 million and $1 billion, and a 3% rate on assets exceeding $1 billion. This tax would only apply to assets located in the United States and is contingent on the implementation of universal healthcare and the prohibition of duplicate private benefits. The bill also includes provisions for information reporting, enforcement, and adjustments for deceased individuals and certain trusts, along with increased funding for the IRS.
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