S. 4246: Ultra-Millionaire Tax Act of 2026

S. 4246 is a federal bill in the 119th Congress. Before this bill, individuals pay federal income taxes on their earnings and capital gains when realized, but face no federal tax specifically on their total net worth. After this bill takes effect, individuals, married couples, and certain trusts with a… See its sponsors, how members voted, and a plain-English breakdown on PolityLens.