Warren's Ultra-Rich Tax Plan Aims to Raise Trillions

Sen. Elizabeth Warren proposes the Ultra-Millionaire Tax Act of 2026, a 2% annual net-worth tax on households and trusts over $50 million plus a 1% levy on billionaire wealth and a 40% exit tax. Berkeley economists estimate it could raise about $6.2 trillion over a decade to fund health care, education and other programs, with Democratic co-sponsors but unlikely passage in a polarized Congress; enforcement and concerns about wealth flight are part of the debate.