Working Americans get $4,200 tax credit; wealthy pay tax on gains.
H.R. 10367 — Working Americans Affordability Tax Credit Act · Filed by Greg Landsman (D-OH) · Introduced Sep 14, 2026 · Referred to committee
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What it does
The bill gives working Americans a $4,200 yearly tax credit. The credit goes to people earning less than $100,000. It creates a new tax on very wealthy people and trusts. They must pay tax on investment gains each year. They pay even if they do not sell those investments.
Who it affects
Working Americans earning under $100,000 get the $4,200 credit. Very wealthy people with over $100 million in income face the tax. People with over $1 billion in assets face it too. Trusts with over $10 million in income or $100 million in assets also face the wealth tax.
One thing to notice
The wealth tax makes very wealthy people pay on gains not yet sold. This could force them to sell assets or borrow money.
From the analysis of the bill text, linked under Primary records below.
Where it stands
- Sep 14, 2026 — Introduced · Congress.gov: “Introduced in House”
- Sep 14, 2026 — Referred to House Committee on Ways and Means · Congress.gov: “Referred to the House Committee on Ways and Means”
Dates and quoted wording are Congress.gov's action record; the timeline shows status changes, not every procedural step.
Words to know
- tax credit — Money the government gives back to reduce what someone owes in taxes.
- wealth tax — A yearly tax on people and trusts with very large amounts of money.
- assets — Things of value that someone owns, like real estate, stocks, or art.
How this was measured
Analysis — Quorum's AI read the bill text published by Congress.gov (50,094 characters) on Sep 30, 2026. Section numbers in the findings refer to that text, linked below; transparency and hidden-provision scores are compared against the median of 16,222 analysed bills.
Status and sponsors — Congress.gov's bill record — actions, committee referrals and cosponsors — loaded nightly. The timeline shows status changes, not every procedural action.
As of — page rendered 2026-10-20.
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