S3956Referred to Committee
Make Billionaires Pay Their Fair Share Act
Introduced
In Committee
3
Passed One Chamber4
Passed Both5
Signed into Law119th
Congress
2026-03-02
Introduced
1
Cosponsors
S
ⓘType
Sponsor
Bernard Sanders
Independent · VT · Senator
Source: Congress.gov · FEC
Cosponsors (1)
Members who have signed on to support this bill since introduction. Source: Congress.gov.
Latest Action
The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →
Committee Activity
Currently in
- Senate Committee on FinanceReferred To · 2026-03-02
Previously
- Finance CommitteeReferred To · 2026-03-02
Plain-English Summary
This bill would impose a new annual tax on the wealth of extremely wealthy individuals, likely those with net worth above a certain threshold like $50 million or $1 billion. The tax would apply to their total assets rather than just their income, and the revenue collected would go toward federal spending. Supporters argue it would reduce wealth inequality and fund government programs, while critics worry it could be difficult to implement and might discourage investment.
AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.
Subjects
Taxation
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