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Goldman Proposes ROBINHOOD Act to Tax Wealthy Loans

12/4/2025

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Summary

Story summary

Rep. Dan Goldman (D-N.Y.) will propose the ROBINHOOD Act to curb tax avoidance by the wealthy.
The ROBINHOOD Act would tax loans backed by capital assets at 20% for earners over $400,000.
Goldman says the bill could gain bipartisan support by closing a loophole without raising tax rates.
The measure faces hurdles in the GOP-controlled House and has support from Americans for Tax Fairness, aligning with Democrats' 2026 midterm strategy.

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Story summary

Rep. Dan Goldman (D-N.Y.) will propose the ROBINHOOD Act to curb tax avoidance by the wealthy.
The ROBINHOOD Act would tax loans backed by capital assets at 20% for earners over $400,000.
Goldman says the bill could gain bipartisan support by closing a loophole without raising tax rates.
The measure faces hurdles in the GOP-controlled House and has support from Americans for Tax Fairness, aligning with Democrats' 2026 midterm strategy.