Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, Financial Services, and Education and Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
The Make Billionaires Pay Their Fair Share Act proposes to fund major expansions in social programs by imposing a five percent annual tax on the net assets of billionaires, with the IRS required to audit at least fifty percent of billionaires annually to ensure compliance. The revenue generated would support expansions of Medicare to include dental, hearing, and vision coverage beginning in 2027 and 2028, a new universal child care and early learning program for children under age six starting in 2026, increased teacher salaries with minimum starting wages of $60,000 annually, $85.6 billion annually for affordable housing through 2035, and improvements to home and community-based long-term care services under Medicaid. The child care program would operate as a guaranteed federal entitlement with states receiving ninety percent reimbursement for direct services and requiring child care providers to pay staff wages comparable to elementary school teachers, while the teacher salary program would provide $14.5 billion annually in grants to states to reach competitive compensation levels. These initiatives would be implemented over the period from 2026 through the mid-2030s, with various funding allocations specified for each program component including $900 million for dental coverage, $370 million for audiology services, $500 million for vision care, and $130 million for long-term care planning grants.
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