S 4306
Millionaires Surtax Act
Jurisdiction
US Congress
Session
119th Congress (2025-2026)
Last updated at
Jun 14, 2026, 7:37 AM
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
This bill, the Millionaires Surtax Act, proposes to add a new tax on high-income individuals in the United States. It would impose a 10% surcharge on modified adjusted gross income exceeding $2 million for most taxpayers, with a lower threshold of $1 million for those not filing jointly. The surcharge applies to individuals, estates, and trusts, with specific rules for nonresident aliens and those living abroad. The tax is scheduled to take effect starting in 2027.
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