1. United States
2. Ariz.
3. Letter

I urge you to immediately co-sponsor the Ultra-Millionaire Tax Act of 2026. The numbers are staggering. America’s 905 billionaires now control approximately $7.8 trillion in wealth, while working families struggle with rising costs for housing, healthcare, childcare, and education. According to leading economists Emmanuel Saez and Gabriel Zucman, the wealthiest Americans often pay lower effective tax rates than teachers, nurses, firefighters, and other working people because much of their wealth grows untaxed. This bill is a common-sense correction. A 2% annual tax on net worth above $50 million would affect only about 260,000 households in a nation of more than 130 million households. The overwhelming majority of Americans would pay nothing. Yet this targeted measure is projected to raise roughly $6.2 trillion over the next decade—revenue that could reduce deficits, strengthen Social Security and Medicare, invest in infrastructure, improve public education, and help address our nation’s growing debt. For decades, wealth has become increasingly concentrated at the very top while working Americans have carried a disproportionate share of the tax burden. That is neither fiscally responsible nor economically sustainable. When billionaires can accumulate fortunes larger than the GDP of entire countries while paying lower tax rates than many middle-class families, the tax code is failing to do its job. The American people understand this. Polling consistently shows broad support for requiring the ultra-wealthy to contribute more. States and local governments are already exploring ways to address extreme wealth concentration. Congress should lead, not lag behind. The question is simple: Why should working Americans pay a higher share of their income than billionaires? Co-sponsor the Ultra-Millionaire Tax Act and help restore fairness, fiscal responsibility, and public trust in our tax system.