Ultra-Millionaire Tax Act of 2026

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 4246 Introduced in Senate (IS)] <DOC> 119th CONGRESS 2d Session S. 4246 To amend the Internal Revenue Code of 1986 to impose a tax on the net value of assets of a taxpayer, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES March 26, 2026 Ms. Warren (for herself, Ms. Duckworth, Ms. Hirono, Mr. Markey, Mr. Merkley, Mr. Schiff, Ms. Smith, Mr. Schatz, Mr. Van Hollen, Mr. Welch, and Mr. Whitehouse) introduced the following bill; which was read twice and referred to the Committee on Finance _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to impose a tax on the net value of assets of a taxpayer, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Ultra-Millionaire Tax Act of 2026''. SEC. 2. IMPOSITION OF WEALTH TAX. (a) In General.--The Internal Revenue Code of 1986 is amended by inserting after subtitle B the…