# 119-s-4306: Millionaires Surtax Act

119-s-4306, Millionaires Surtax Act, is a 119th Congress bill sponsored by Sen. Van Hollen, Chris [D-MD] (D-MD); status introduced; PRIA reads it as touching household money (as of 2026-05-08).

- Canonical: https://policyrisk.com/legislation/119-s-4306
- As of: 2026-05-08
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-4306
- Congress: 119
- Title: Millionaires Surtax Act
- Status: introduced
- Introduced: 2026-04-15
- Sponsor: Sen. Van Hollen, Chris [D-MD] (D-MD)
- Cosponsors: 3
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-05-08

## Summary

**A 10% surtax on very high incomes** would create a new surcharge on top of existing income taxes. The bill also defines how to measure that income and sets special rules for overseas filers and certain trusts. - High earners: Taxpayers would pay a 10% surcharge on the portion of their modified adjusted gross income above the threshold. The thresholds are $2 million for joint filers and $1 million for other individual filers. - International and income rules: The bill defines modified adjusted gross income and adjusts it for certain investment interest deductions. For nonresident aliens only amounts counted under the U.S. tax rule in section 871(b) count toward the surtax, and citizens or residents abroad get a reduced threshold tied to the foreign earned income exclusion. - Trusts, credits, and timing: Trusts whose unexpired interests are devoted to the charitable purposes in section 170(c)(2)(B) are excluded. The surtax is not treated as a tax for computing tax credits or for the alternative minimum tax. The provisions apply to taxable years beginning after December 31, 2026.

## Cosponsors (3)

- Sen. Merkley, Jeff [D-OR] (D-OR), 2026-04-15T00:00:00.000Z
- Sen. Luján, Ben Ray [D-NM] (D-NM), 2026-04-15T00:00:00.000Z
- Sen. Gallego, Ruben [D-AZ] (D-AZ), 2026-04-15T00:00:00.000Z

## Provisions PRIA read

- New 10% Surtax on Millionaires: cost, high. This bill would add a new 10% surtax on very high individual incomes. You would pay 10% of the part of your modified adjusted gross income (MAGI) above the threshold. The threshold would be $2,000,000 if you file a joint return and $1,000,000 if you do not file jointly. MAGI for this surtax would m…

## Related bills

- 119-s-3990: PrEP Access and Coverage Act of 2026
- 119-s-2823: FAMILY Act
- 119-s-51: Washington, D.C. Admission Act
- 119-s-5108: Right to IVF Act of 2026
- 119-s-1503: Equality Act
- 119-s-1068: Putting Veterans First Act of 2025

## Sources
- [119-s-4306 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/4306)

## Related
- [119-s-3990: PrEP Access and Coverage Act of 2026](https://policyrisk.com/legislation/119-s-3990)
- [119-s-2823: FAMILY Act](https://policyrisk.com/legislation/119-s-2823)
- [119-s-51: Washington, D.C. Admission Act](https://policyrisk.com/legislation/119-s-51)
- [119-s-5108: Right to IVF Act of 2026](https://policyrisk.com/legislation/119-s-5108)
- [119-s-1503: Equality Act](https://policyrisk.com/legislation/119-s-1503)
- [119-s-1068: Putting Veterans First Act of 2025](https://policyrisk.com/legislation/119-s-1068)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-4306 (as of 2026-05-08).