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119-hr-8316Committee
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Donald J. Trump Wealth Tax Act of 2026

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Summary

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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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Bill details

Congress
119
Bill type
hr
Introduced
April 15, 2026
Sponsor
Juan VargasDCA
Last action
April 15, 2026— Referred to the House Committee on Ways and Means.

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