Donald J. Trump Wealth Tax Act of 2026
In committee: it can still change before the session ends.
- Stage
- In committee
- Started in
- House
- Sponsor
- 1
- Latest action
- Apr 15, 2026
What it does
The bill would impose a one-time 14.25% tax on the net worth exceeding $10 million for U.S. citizens, residents, and certain trust beneficiaries, as of the date of enactment. It applies to individuals and the nongrantor portions of domestic and foreign trusts with U.S. beneficiaries, excluding the value of a principal residence and related acquisition indebtedness from net worth calculations. The tax is intended to raise revenue to reduce the national debt, citing historical statements by Donald J. Trump and current fiscal concerns. The Secretary of the Treasury would issue regulations to implement the tax, which would be administered under federal tax procedures.
No official summary is available here. This one was written by AI from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
Where it goes next
While a bill can still move, the questions are about people and money.