Marco’s bill

Would have earned

A start.

Senate vote: 42-58, failed
Closed: $395.4B (19.8%)
After: $1.60T
Posted: Nov 10, 2026

Scored against the Incoming Senate (120th Congress, seated Jan 3, 2027). Roster incoming-v1, data fy2026-v7.

The bill imposes a 100% income tax and a 25% annual net worth tax on US citizens above a $100 million threshold, applies both worldwide, and blocks citizenship renunciation unless a $100 million penalty is paid. It also adds criminal penalties for avoidance.

Back to the Hall of Almost

The bill

Tax any US citizen with more than 100million 100% income tax plus a 25% net worth tax, regardless of residency, so emigration doesn’t work. Citizenship renunciation becomes impossible unless these individuals pay a 100 million penalty. Avoidance is punishable by 10 years in prison without parole. Taxes net worth, regardless of liquidity.

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Roll call

Yes 42Need 51No 58

Tap a tile to read that senator’s vote.

Two tiles per state, one per senator. Read-only.

Before and after

Before

Revenue

$5.40T

Spending

$7.40T

After

Revenue

$5.79T

Spending

$7.38T

Individual income taxes
Payroll taxes
Corporate income taxes
Customs
Other revenue
Social Security
Medicare
Medicaid
Defense
Net interest
Veterans
Income security
Federal workforce
Health
Domestic programs

Deficit$1.60T

The hole: $1.99T. One block = 5% of it.

What it changed

Line	Before	After	Change
Revenue
Individual income tax: wages and ordinary income	$2.45T	$2.53T	+$80B
Fed remittances and other receipts	$65B	$367B	+$302B
Spending
Net interest on the debt	$1.16T	$1.15T	−$13.4B

How each part scored

25% net worth tax on citizens above $100M (worldwide, regardless of liquidity)+$300B per year on Fed remittances and other receipts
Assumes the threshold applies to net worth and the base is roughly $10-12T. Heavy avoidance, valuation disputes, forced asset sales and base erosion over ten years cut the naive $2.5T+ per year to about $300B per year on average. Confidence 8%.
100% income tax on citizens above $100M+$80B per year on Individual income tax: wages and ordinary income
Assumes reported taxable income of this group collapses under a 100% rate and overlaps with the wealth tax, so only about $80B per year of new revenue beyond current-law taxes is counted. Confidence 10%.
$100 million penalty to renounce citizenship+$2B per year on Fed remittances and other receipts
Assumes few people pay the penalty and instead stay and avoid or evade, so it adds little revenue beyond the wealth tax. Confidence 10%.