Senator Warren Introduces Senate Bill to Tax Wealth Over $50 Million and Fund Social Programs

Ultra-Millionaire Tax Act·March 25 – April 14, 2026

3 months ago

Senator Warren Introduces Senate Bill to Tax Wealth Over $50 Million and Fund Social Programs

Senator Elizabeth Warren introduced the Ultra-Millionaire Tax Act in the Senate to create a new annual tax on the wealthiest households. The bill proposes a 2% yearly tax on net worth between $50 million and $1 billion. For fortunes over $1 billion, the tax rate would increase to 3%. The legislation also provides $100 billion for the IRS to strengthen enforcement and ensure the wealthy pay what they owe. Warren argued that the revenue from this tax could fund universal childcare, free community college, and more housing. This proposal targets the total value of assets like stocks and real estate instead of only taxing annual income.

S. 4246Sen. Warren Introduces Ultra-Millionaire Tax Act to Tax Wealth Over $50 MillionSenator Warren Advocates for Wealth Tax to Fund Social Programs

3 months ago

Warren and Jayapal Introduce Ultra-Millionaire Tax Act to Levy New Wealth Tax on Fortunes Over $50 Million

The Ultra-Millionaire Tax Act is currently active and under review by the House Committee on Ways and Means. If enacted, the legislation would fundamentally shift the U.S. tax code by imposing a 2% annual levy on households worth over $50 million, aiming to generate $100 billion for IRS enforcement and social programs.

3 months ago

Rep. Jayapal introduces Ultra-Millionaire Tax Act as House refers bill to Ways and Means Committee

Representative Pramila Jayapal officially introduced the bill in the House and it was referred to the Committee on Ways and Means.

H.R. 8085Rep. Jayapal Introduces Ultra-Millionaire Tax Act to Tax Fortunes Over $50 MillionGreat news! I’ve officially re-introduced the Ultra-Millionaire Tax Act to make sure the ultra-rich pay their fair share. Our tax system needs urgent reform — this is an important step to address wealth inequality and level the playing field for working people.

4 months ago

Elizabeth Warren and 50 Members of Congress Introduce Ultra-Millionaire Tax Act

Senator Elizabeth Warren announced the wealth tax proposal with the backing of more than 50 members of Congress.

Today, I'm introducing my wealth tax — and more than 50 members of Congress are joining me. It’s time for the government to start working for American families, not just the ultra-rich. https://t.co/keaFKCHawl

4 months ago

National Media Outlets Report Rising Support for Wealth Tax Proposals to Combat Economic Inequality

National media outlets reported that wealth tax proposals were gaining significant traction as a means to address economic inequality.

As wealth taxes gain traction, Warren proposes levy on the ultra-rich

The Facts

Key Statements

CCBS News

“proposing a 2% annual tax on net worth over $50 million and an additional 1% tax on billionaires.”

Provides the specific tax rates and wealth thresholds defined in the legislation.

Who This Affects

7 groups

Conflicting

Hurts

Helps

Policies

These are companion bills introduced in the House and Senate to advance the same legislative proposal. Both H.R. 8085 and S. 4246 are currently in the committee stage with no votes scheduled yet.

Sen. Warren Introduces Ultra-Millionaire Tax Act to Tax Wealth Over $50 Million

S. 4246

Rep. Jayapal Introduces Ultra-Millionaire Tax Act to Tax Fortunes Over $50 Million

H.R. 8085

News

Elizabeth Warren's Bold Plan To Tax The Ultra-Wealthy Sparks Debate

ForbesCenter

How Elizabeth Warren's greedy wealth tax will make us all poorer

New York PostCenter Right

As wealth taxes gain traction, Warren proposes levy on the ultra-rich

CBS NewsCenter Left

As wealth taxes gain traction, Warren proposes levy on the ultra-rich

CBS NewsCenter Left

Analysis generated by AI. Always verify with official sources.