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Sanders, Khanna Introduce Wealth Tax Bill Targeting Billionaires

Senators Bernie Sanders and Rep. Ro Khanna introduced the Make Billionaires Pay Their Fair Share Act, proposing a 5 percent annual wealth tax on the 938 U.S. billionaires who hold $8.2 trillion collectively. The tax would raise about $4.4 trillion, funding $3,000 direct payments to households earning $150,000 or less and restoring Medicaid and ACA cuts. Additional resources would expand Medicare benefits, build affordable housing, cap childcare costs, and set a $60,000 minimum salary for public‑school teachers. The bill frames the levy as a response to extreme wealth inequality.