Ultra-Millionaire Tax Act of 2026

Hozzl · 2026-04-21T01:24:05Z

Explore the details of House Bill 8085 Ultra-Millionaire Tax Act of 2026 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

4/21/2026, 1:24 AM

Summary of Bill HR 8085

The Ultra-Millionaire Tax Act of 2026, designated as H.R. 8085 in the 119th Congress and introduced on March 25, 2026, aims to implement a tax on ultra-millionaire individuals. The bill includes provisions for taxing high-net-worth individuals to address economic inequality and raise revenue. Specific details on tax rates, thresholds, enforcement mechanisms, and use of generated funds are likely outlined within the bill, which can be accessed via the provided links.

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Current Status of Bill HR 8085

Bill HR 8085 is currently in the status of Bill Introduced since March 25, 2026. Bill HR 8085 was introduced during Congress 119 and was introduced to the House on March 25, 2026. Bill HR 8085's most recent activity was Referred to the House Committee on Ways and Means. as of March 25, 2026

Bipartisan Support of Bill HR 8085

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

249

Democrat Cosponsors

249

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 8085

Primary Policy Focus

Taxation

Alternate Title(s) of Bill HR 8085

Ultra-Millionaire Tax Act of 2026

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.

Comments

Kylian Fuller

1,167

5 months ago

I think this new bill is just ridiculous! They want to tax the ultra-rich even more? Like, come on, they already pay a ton in taxes. This is just going to hurt the economy and discourage people from working hard to become successful. It's not fair to punish those who have worked hard to achieve their wealth. This bill is just going to make things worse for everyone. Who benefits from this? Certainly not the hardworking individuals trying to make a living.