Donald J. Trump Wealth Tax Act of 2026
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Summary
This bill would impose a one-time federal tax of 14.25 percent on the net worth of individuals and certain trusts exceeding $10 million, with the principal residence and related mortgage debt excluded from the calculation. The tax would apply to U.S. citizens, residents, and nongrantor portions of domestic and foreign trusts with U.S. beneficiaries. According to the bill's findings, proponents estimate the tax could raise approximately $5.7 trillion and reduce the national debt-to-GDP ratio.
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