Make Billionaires Pay Their Fair Share Act

HR7767, titled the "Make Billionaires Pay Their Fair Share Act," was introduced in the House of Representatives on March 3, 2026, by Rep. Khanna. The bill is currently in the early stages of the legislative process, having been referred to the Committees on Ways and Means, Energy and Commerce, Financial Services, and Education and Workforce. This referral to multiple committees indicates a broad scope and the need for review across various jurisdictions. The core of the bill, Title I, proposes to amend the Internal Revenue Code of 1986 to impose an annual tax on the net value of assets held by a taxpayer. The subsequent titles outline the intended uses of the revenue generated from this wealth tax, including affordability rebates (Title II), health care provisions such as repealing reconciliation health provisions and increasing eligibility for premium tax credits (Title III), Medicare dental, hearing, and vision expansion (Title IV), a housing trust fund (Title V), affordable childcare (Title VI), a minimum salary for public school teachers (Title VII), and investments in home and community-based services and long-term care (Title VIII). The bill text does not specify any dollar amounts for the proposed wealth tax rate or the funding for the various programs it aims to support; it primarily establishes the framework for these initiatives. As the bill is in the early committee referral stage, there are no direct appropriations or authorizations of specific dollar amounts for the programs outlined. The mechanism for funding these initiatives would be through the proposed wealth tax, which would require subsequent legislative action to define its specifics and implement. The bill's broad scope touches upon various sectors, including finance due to the wealth tax, healthcare through Medicare expansion and premium tax credits, real estate via the housing trust fund, and consumer and education sectors through childcare and teacher salary provisions. Given the early stage and the nature of the proposed tax, there are no immediate direct beneficiaries or losers among publicly traded companies at this juncture. The bill's progression would need to include detailed tax rates and spending allocations to identify specific market impacts. No recent presidential actions directly amplify or conflict with this specific legislative proposal. The recent Presidential Memoranda on the Defense Production Act focus on energy and infrastructure, which are distinct from the tax and social spending proposals in HR7767. The legislative path for HR7767 involves consideration by the four referred committees. Each committee will review the provisions falling within its jurisdiction. Further action, such as committee markups or votes, would be required for the bill to advance to a floor vote in the House.