Read twice and referred to the Committee on Finance.
Summary
The bill creates a new wealth‑tax subtitle in the Internal Revenue Code, levying a 5% tax each year on the net value of assets held by anyone whose holdings exceed $1 billion (adjusted for inflation). It also provides affordability rebates, expands Medicare to cover dental, hearing and vision care, creates a housing trust fund, expands child‑care benefits, and sets a $60,000 minimum salary for public‑school teachers. The measure targets ultra‑wealthy taxpayers to fund broader health, education, and housing initiatives.
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