In CommitteeFiled Apr 15, 2026
Sponsor: Rep. Vargas, Juan [D-CA-52] (D)
Latest Action
Referred to the House Committee on Ways and Means.
Apr 15, 2026
Summary
The Donald J. Trump Wealth Tax Act of 2026 would levy a one‑time 14.25% tax on the amount of a person's or trust beneficiary’s net worth that exceeds $10 million. It applies to U.S. citizens or residents and to the non‑grantor portions of domestic and foreign trusts that benefit them. The revenue is presented as a way to help lower the federal debt.
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