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© 2026 Govwatch

S4662Referred to Committee

A bill to amend the Internal Revenue Code of 1986 to ensure that high net-worth individuals cannot avoid paying taxes on their income and assets.

Share:
Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2026-06-02
Introduced
0
Cosponsors
S
ⓘ
Type

Sponsor

Ruben Gallego
Ruben Gallego
Democrat · AZ · Senator
Votes with party: 50.2% (277 recorded votes)

Full profile: /officials/G000574

Source: Congress.gov · FEC

Cosponsors (0)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

No cosponsors on record. Bills can pass without cosponsors — this often means the sponsor introduced the bill alone, either because it's a messaging bill, a chairman's mark, or simply early in the legislative cycle.

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 →

Read twice and referred to the Committee on Finance.

2026-06-02

Source: Congress.gov

Committee Activity

Currently in

  • Senate Committee on FinanceReferred To · 2026-06-02

Plain-English Summary

The proposal would change tax rules to prevent wealthy individuals from using legal strategies to reduce or eliminate their tax payments on income and investments. It aims to ensure that people with high net worth pay a minimum amount in taxes by closing loopholes they currently use. The bill would primarily affect rich Americans and could increase federal tax revenue.

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.

Full bill text is not yet cached locally.
Open text viewRead on Congress.gov

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    Referred to Committee · 2026-05-19
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    Referred to Committee · 2026-05-13
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    Referred to Committee · 2026-04-28