Story perspectives

Sanders and Khanna Propose Billionaire Tax to Fund Benefits

3/4/2026

Summary

Story summary

Senator Bernie Sanders (I-Vt.) and Senator Ro Khanna (D-Calif.) introduced the Make Billionaires Pay Their Fair Share Act, taxing wealth at 5% on 938 billionaires.
The plan could raise $4.4 trillion over ten years to fund a $3,000 payment for households earning $150,000 or less, expand Medicare, and raise teachers' salaries.
Critics say the tax could distort markets and hinder growth, while bipartisan opposition underscores wealth-inequality concerns.

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Story summary

Senator Bernie Sanders (I-Vt.) and Senator Ro Khanna (D-Calif.) introduced the Make Billionaires Pay Their Fair Share Act, taxing wealth at 5% on 938 billionaires.
The plan could raise $4.4 trillion over ten years to fund a $3,000 payment for households earning $150,000 or less, expand Medicare, and raise teachers' salaries.
Critics say the tax could distort markets and hinder growth, while bipartisan opposition underscores wealth-inequality concerns.