A bill to amend the Internal Revenue Code of 1986 to impose an annual tax on the net value of assets held by a taxpayer, and for other purposes.

# Summary of S. 3956: Wealth Tax Bill **What It Would Do** This bill would create a new annual tax on wealth—specifically targeting the net value of assets (such as property, investments, and possessions) owned by individuals. Rather than taxing income alone, this would be a tax based on total wealth holdings each year. The bill would amend the federal tax code to establish how this wealth tax would be calculated and collected. **Who It Affects** While the bill text doesn't specify exact thresholds, wealth taxes typically target high-net-worth individuals and wealthy households.

The measure would likely affect people with substantial assets, though the exact impact would depend on provisions not detailed in this summary. **Current Status** The bill is currently in committee, meaning it has been introduced but has not yet advanced to a full vote in the Senate. It was sponsored by Senator Bernie Sanders (I-VT). No additional legislative progress has been made at this time. For specific details about tax rates, asset thresholds, and exemptions, you would need to review the full bill text.