Boyle, Jayapal, Warren, 45+ Lawmakers Renew Push for Wealth Tax on Ultra-Millionaires and Billionaires
This will go nowhere fast IMHO.
Boyle, Jayapal, Warren, 45+ Lawmakers Renew Push for Wealth Tax on Ultra-Millionaires and Billionaires
https://boyle.house.gov/media-center/press-releases/boyle-jayapal-warren-45-lawmakers-renew-push-wealth-tax-ultra
March 27, 2026 Press Release
New analysis shows that wealth tax would generate over $6 trillion in revenue that could lower costs for families through programs like universal child care, free community college, Medicare expansion, and more
WASHINGTON, DC – Congressman Brendan F. Boyle (PA-02), along with Representative Pramila Jayapal (WA-07), and U.S. Senator Elizabeth Warren (MA), led over 45 lawmakers in reintroducing the Ultra-Millionaire Tax Act, legislation that would apply a wealth tax to fortunes above $50 million. According to a new analysis, the bill would generate $6.2 trillion in revenue over the next decade, more than double the score of the bill when it was first introduced five years ago and enough money to pay for investments like universal child care, free community college, Medicare expansion, and more — without raising taxes on 99.85% of American households.
“A secretary shouldn’t pay a higher tax rate than the CEO. The current tax code is rigged against working people and the middle class. Our proposal finally changes this and makes billionaires pay their fair share,” said Congressman Boyle.
“While multi-millionaires and billionaires are getting richer and richer, families are getting squeezed by a rigged economy. My bill is about basic fairness and making the ultra-wealthy pay their fair share. It’s time for the government to stop listening to the richest of the rich and start working for working people,” said Senator Warren.
“As millions of families are struggling under the weight of inflation, tariffs, and rising gas prices, the richest billionaires continue to see their net worth grow. We live in the richest country in the world, but that wealth is incredibly concentrated in a tiny group of people. It’s time to tax the rich and level the playing field to ensure that every American has a chance to succeed,” said Representative Jayapal. “The Ultra-Millionaire Tax Act is a major step toward making sure the wealthy finally pay their fair share. With this legislation, we can narrow the racial wealth gap and invest trillions of dollars in health care, schools, clean energy, housing, and more to improve lives in communities across America.”...............................
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