In CommitteeFiled Jun 2, 2026
Sponsor: Sen. Gallego, Ruben [D-AZ] (D)
Latest Action
Read twice and referred to the Committee on Finance.
Jun 2, 2026
Summary
The Robinhood Act adds new rules to the Internal Revenue Code that force wealthy individuals who receive loans to recognize capital gains on assets equal to the loan amount. It applies to long‑term assets, disallows offsetting those gains with losses, and extends to certain leases and entity ownership. The goal is to stop high‑income taxpayers from using loans to defer or avoid taxes.
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