The Digester

Senator Bernie Sanders and Representative Ro Khanna unveiled the Make Billionaires Pay Their Fair Share Act, a proposal to levy a 5 percent annual wealth tax on U.S. billionaires to raise $4.4 trillion over a decade and fund direct payments and expanded social benefits.

Bill would tax 938 U.S. billionaires at 5 percent annually on roughly $8.2 trillion in wealth to raise an estimated $4.4 trillion over 10 years.
First-year revenue would finance $3,000 direct payments to each individual in households earning under $150,000 annually.
The legislation would reverse $1.1 trillion in Medicaid and Affordable Care Act cuts tied to the One Big Beautiful Bill Act.
It would expand Medicare to include dental, vision, and hearing benefits and cap child care costs at no more than 7 percent of a family’s income.
The plan sets a nationwide minimum public school teacher salary of $60,000 per year.
Supporters say the tax would rebalance the tax code and help working families, while critics predict legal challenges and potential impacts on investment and capital markets.

Sanders and Khanna Propose 5% Annual Wealth Tax on Billionaires to Fund $4.4T Plan

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