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Democrats Propose ‘Ultra-Millionaire Tax’ on Net Worth of Households, Trusts Exceeding $50 Million

President Biden has also proposed tax hikes for billionaires and corporations in his proposed $7.3 trillion budget for 2025.

Elijah Nouvelage/Getty Images
Senator Warren holds up two fingers to represent her two-cent wealth tax at Clark Atlanta University, November 21, 2019. Elijah Nouvelage/Getty Images
M.J. KOCH
M.J. KOCH

Democratic lawmakers are eying an “ultra-millionaire tax” that would crack down on the wealth of America’s millionaires every year. 

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M.J. KOCH
M.J. KOCH

Ms. Koch graduated in 2023 from Harvard College, where she was the editor-in-chief of the student weekly, the Harvard Independent. She reports on issues of higher education and foreign policy at The New York Sun.

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