hold on there's just too much going on in Congress lmao...
Adds 10% surtax on individual incomes above $1M or $2M thresholds.
Sen. Van Hollen (D-MD) and co-sponsors Sens. Merkley, Lujan, Gallego.
Introduced in the Senate, referred to a committee.
This bill proposes a new 10% tax on a portion of very high individual incomes. For single filers, this applies to income over $1 million; for joint filers, it's over $2 million. It was introduced by Senator Chris Van Hollen, a Democrat from Maryland, along with three co-sponsors. Currently, the bill is in the Senate Finance Committee for review and discussion.
Introduced Apr 15, 2026
The bill was introduced in the Senate on April 15, 2026, and immediately referred to the Senate Committee on Finance. Before it can move forward, the committee must review it and decide whether to send it to the full Senate for a vote. If it passes the Senate, it would then need to pass the House of Representatives and be signed by the President to become law.
If this bill becomes law, individuals and married couples with very high incomes would face an additional tax. For a single filer, any 'modified adjusted gross income' exceeding $1,000,000 would be subject to a new 10% surtax. For married couples filing jointly, this 10% surtax would apply to income above $2,000,000. This additional tax would not be considered when calculating other tax credits and would not affect corporations or charitable trusts with unexpired interests solely devoted to charitable purposes.
Supporters Say
Supporters would likely argue this ensures the wealthiest individuals contribute a fairer share to the nation's finances.
Critics Say
Critics might argue that such a tax could discourage investment or is an unfair burden on high earners.
Those in favor of the bill would likely highlight that it targets only the highest earners, potentially generating significant revenue to address national needs or reduce the deficit. They might frame it as a matter of economic justice. Opponents, however, could argue that increasing taxes on high-income individuals might disincentivize entrepreneurship, investment, or job creation, potentially harming the broader economy. They might also contend that existing tax structures are already sufficient.