Donald J. Trump Wealth Tax Act of 2026

This bill would impose a one-time federal tax of 14.25 percent on the part of a person's net worth above $10,000,000, measured on the date the bill becomes law. It applies to U.S. citizens and residents, to certain portions of domestic trusts, and to certain portions of foreign trusts that belong to U.S. beneficiaries. Net worth means the market value of all assets minus real debts, and individuals may leave out their main home and the mortgage used to buy it. The Treasury Department would write rules to carry out the tax, and the IRS would collect it using existing tax procedures.

Full text and official record on Congress.gov

Sponsors

• Juan Vargas Democrat sponsor
• 0 cosponsors