John,

When congressional Republicans passed their Big Brutal Bill, they made tax breaks for billionaires permanent―and offset the cost by cutting health care and nutrition benefits for low-income families.

Now we have a chance to hold those same billionaires accountable while investing in our communities.

The Billionaires Income Tax Act was just introduced in the House and Senate and it’s projected to raise $557 billion over the next decade from the richest 0.01%―money that can be used to invest in public education, healthcare, nutrition, housing, child and disability care, and more.¹

Here’s how it works: The Billionaires Income Tax requires billionaires and anyone who has made more than $100 million in three straight years to pay a minimum tax rate of 23.8%. It would make the ultra-wealthy pay taxes on all of their income, including regular earnings and unrealized capital gains, which currently go untaxed.

This means that billionaires would finally pay taxes on the wealth they accumulate every year, just like workers pay on wages.

Click here to send a message to your senators and representative urging them to pass the Billionaires Income Tax and end the billionaire tax scam, which allows the ultra-wealthy to avoid paying their fair share in taxes.

This bill would apply to roughly 1,000 U.S. households. The vast majority of taxpayers―99.9% of households―would not pay a nickel more in taxes. And poll after poll shows strong bipartisan support for taxing billionaires.²

At a time when billionaire wealth in the U.S. has reached $7.6 TRILLION, and a new report shows that the majority of billionaires’ combined wealth has never been taxed, we need a Billionaires Income Tax to hold the wealthy accountable, requiring them to play their part in a society that works for everyone.³

Because so much of billionaires’ wealth is shielded from taxation, the 400 wealthiest families paid an average effective tax rate of only 8.2% from 2010-2018. Contrast that to the tax rate of 13.6% paid by average income families in 2020. Think how unfair this is―and how it is starving our nation of the revenues needed to meet our basic needs and invest in our future.⁴

Send a message to Congress now, urging them to take up and pass the Billionaires Income Tax.

Together, let’s keep fighting for a society that works for everyone, not just the wealthy few.

Deborah Weinstein
Executive Director, CHN Action

¹ Wyden Statement on Billionaires Income Tax Score
² Extensive Polls Find Americans Support Taxing the Wealthy
³ New: Majority of Billionaires’ $7.6 Trillion in Combined Wealth Has Never Been Taxed
⁴ Public Interest Groups Back Billionaires Income Tax to Establish Fairness and Invest in Families, Not the Ultrawealthy