S. 4490: Fair Trusts for Fiscal Responsibility Act

S. 4490 is a federal bill in the 119th Congress. Before this bill, trusts were generally taxed on the income they generated, but their underlying accumulated wealth or assets were not subject to a direct annual wealth tax. Under this bill, applicable trusts holding large amounts of net assets will pay an… See its sponsors, how members voted, and a plain-English breakdown on PolityLens.