Wealth tax funds Medicare dental, hearing, vision expansion for seniors
H.R. 7767 — Make Billionaires Pay Their Fair Share Act · Filed by Ro Khanna (D-CA) · 7 cosponsors · Introduced Mar 3, 2026 · Referred to committee
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What it does
This bill creates a new annual wealth tax on billionaires (those with net assets above a threshold), funds IRS enforcement to collect it, expands Medicare to cover dental, hearing, and vision care starting in 2028, increases premium tax credits for health insurance, and provides one-time affordability rebates of $3,000–$6,000 per household. The wealth tax revenue and enforcement funding are paired with middle-class and senior healthcare expansions.
Why we flagged it
The bill's operative mechanism is a new annual wealth tax on high-net-worth individuals paired with Medicare coverage expansions (dental, hearing, vision) and affordability rebates. The wealth tax is the revenue engine; the healthcare provisions are the primary public benefit.
- Section 301 repeals subtitle B of title VII of Public Law 119–21 (reconciliation health provisions), with narrow exceptions. This is substantively unrelated to the wealth tax or the new Medicare expansions.
What the text implies
- Wealth tax valuation rules rely on Secretary discretion for hard-to-value assets (private businesses, art, real estate); disputes over valuation could generate significant litigation and compliance costs for affected taxpayers.
- The bill establishes a 'wealth registry' of high-net-worth individuals' assets, creating a new federal database of billionaire holdings; privacy and data-security implications are not addressed.
The full analysis lists 5 implications of this text.
Who stands to gain
Medicare beneficiaries (seniors 65+); Lower-income families (premium tax credit expansion); Dental providers and oral health professionals