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BillHR 8316 · 119

Donald J. Trump Wealth Tax Act of 2026

Introduced
Apr 15, 2026
Cosponsors
0
Traction
0
Last Action
Apr 15, 2026

Bill Summary

Imposes a wealth tax on individuals with high net worth, specifically targeting the wealthiest Americans. Requires individuals with net worth above a certain threshold to pay an annual tax on their wealth.

Sponsored By

Juan Vargas
Democrat · California · House

Bill Journey

  1. Apr 15, 2026
  3. Apr 15, 2026You Are Here

    The committee will review the bill, debate amendments, and vote on whether to advance it to the full chamber.

  4. TBD

    The full chamber debates the bill, may amend it, and votes on whether to pass it.

  5. TBD

    If passed by the first chamber, the other chamber considers, may amend, and votes on the bill.

  6. TBD

    If passed by both chambers, the bill goes to the President to sign into law or veto.

Why It Matters

This bill affects ultra high net worth individuals, such as billionaires and multimillionaires, by requiring them to pay a tax on their wealth. The tax would impact their financial situation by reducing their net worth over time.

Impact Areas

Sample
Addresses Supply
Targets an underlying shortage driving costs.
Supports Families
Aimed at easing pressure on working households.
Long-term Impact
Effects compound across multiple budget cycles.
Expands Access
Lowers barriers for first-time participants.

Support & Opposition

Sponsor & cosponsor support by party
1backer
  • Democratic1
Cross-party cosponsors0 · 0%

Documents

1

Full text opens on congress.gov, the official source.

Bill Details

Bill TypeHouse Bill · Federal
Primary TopicMoney & Economy
CommitteeCommittee on Ways and Means
IntroducedApr 15, 2026
Last UpdatedApr 15, 2026
Latest ActionReferred to the House Committee on Ways and Means.
Subjects
  • Economy

Summary and impact analysis written by Judy (KnowGov's enrichment AI). Bill metadata, status, sponsor, and any floor votes from Prism. Sections marked “Sample” are placeholders not yet connected to live data.