Oregon Sen. Merkley joins lawmakers to reintroduce ultra-rich wealth tax

On 2026-04-06, U.S. Sen. Jeff Merkley and more than 45 Democratic lawmakers reintroduced the Ultra-Millionaire Tax Act in Washington, D.C. The legislation would create a 2% annual tax on household net worth above $50 million and a 1% surtax on wealth above $1 billion. The action was a formal policy proposal aimed at taxing ultra-rich Americans and funding social programs.