In CommitteeFiled Mar 25, 2026
Sponsor: Rep. Jayapal, Pramila [D-WA-7] (D)
Latest Action
Referred to the House Committee on Ways and Means.
Mar 25, 2026
Summary
The Ultra‑Millionaire Tax Act of 2026 adds a new wealth tax to the Internal Revenue Code. It taxes the net value of an individual’s assets at 2 % between $50 million and $1 billion, and at 3 % (or 6 % if a universal health‑insurance law is in place) on amounts above $1 billion. Married couples are treated as a single taxpayer, and certain multi‑beneficiary trusts are subject to the same rules.
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