President Biden's Billionaire Minimum Income Tax

The Billionaire Minimum Income Tax will ensure that the very wealthiest Americans pay a tax rate of at least 20% on their full income, including increased value of stock. It will make sure that they no longer pay a tax rate lower than teachers and firefighters. The tax will apply only to 0.01% of American households – those worth over $100 million. Over half of the revenue will come from households worth more than $1 billion. It will raise about $360 billion over 10 years.

Senator Ron Wyden's Billionaires Income Tax

The Billionaires Income Tax will ensure that billionaires pay a tax rate of at least 23.8% on their full income, including increased value of stock. It will make sure that they no longer pay a tax rate lower than teachers and firefighters. The tax will apply to roughly 700 billionaires – those with a net worth of $1 billion and/or income of at least $100 million a year for three consecutive years. It will raise more than $550 billion over 10 years.

Rep. Jamaal Bowman’s Babies Over Billionaires Act

The Babies Over Billionaires Act (H.R. 7502) will ensure that billionaires pay a tax rate of at least 23.8% on their full income, including increased value of stock. It will make sure that they no longer pay a tax rate lower than teachers and firefighters. The tax will only apply to 0.01% of American households – those worth over $100 million. There is not yet an estimate about how much it will raise, but it is likely more than the $550 billion raised by Sen. Wyden’s Billionaires Income Tax. The revenue would be spent to strengthen health and education services.