Make Billionaires Pay Their Fair Share Act

This bill would create a yearly federal tax of 5 percent on the net worth of individuals and trusts whose assets total more than $1 billion. It would require the IRS to audit at least half of those taxpayers each year, and it would set a higher rate for certain people who give up U.S. citizenship. The bill would send one-time rebates of $3,000 per person ($6,000 for joint filers) plus $3,000 per dependent. It would remove the income limit for Affordable Care Act premium tax credits and undo the health provisions of a 2025 budget law, with some exceptions. It would add dental, hearing, and vision coverage to Medicare, and its table of contents also lists titles on housing, child care, a $60,000 minimum teacher salary, and home and community-based care.

Full text and official record on Congress.gov

Sponsors

• Bernard Sanders Independent sponsor
• 1 cosponsors