# 119-s-4662: ROBINHOOD Act of 2026

119-s-4662, ROBINHOOD Act of 2026, is a 119th Congress bill sponsored by Sen. Gallego, Ruben [D-AZ] (D-AZ); status introduced; PRIA reads it as touching household money (as of 2026-10-18).

- Canonical: https://policyrisk.com/legislation/119-s-4662
- As of: 2026-10-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-4662
- Congress: 119
- Title: ROBINHOOD Act of 2026
- Status: introduced
- Introduced: 2026-06-02
- Sponsor: Sen. Gallego, Ruben [D-AZ] (D-AZ)
- Cosponsors: 0
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-10-18

## Summary

**Treats certain loans by very wealthy taxpayers as immediate taxable sales of long-term assets.** It would use multi-year income and asset look-backs to force gain recognition when targeted taxpayers take out loans or enter long leases.

## Provisions PRIA read

- Loans and long leases trigger taxes: cost, high. If enacted, loans to an applicable taxpayer would be treated as forcing a sale of long-term capital assets. You would have to identify long-term assets with gain up to the loan principal and treat them as sold at fair market value on the last day of the loan year, and you would recognize the gain i…
- Who counts as a very wealthy taxpayer: cost, high. This bill would set very high income and asset tests to decide who is covered. You would be an "applicable taxpayer" if, for each of the three prior years, your modified AGI was over $100 million (or $50 million if married filing separately) or your covered assets were over $1 billion (or $500 mill…
- Marriage, divorce, and termination rules: mixed, medium. The bill would treat a person who becomes married as making both spouses subject to the rules for the marriage year and later years. If a married person filing separately is treated as applicable, the spouse would also be treated as applicable that year. You could stop being treated as an applicabl…

## Related bills

- 119-s-2838: Protecting Our Democracy Act
- 119-s-5283: Momnibus Act
- 119-s-3990: PrEP Access and Coverage Act of 2026
- 119-s-2823: FAMILY Act
- 119-s-2763: Keep Billionaires Out of Social Security Act
- 119-s-3869: Healthy Families Act

## Sources
- [119-s-4662 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/4662)

## Related
- [119-s-2838: Protecting Our Democracy Act](https://policyrisk.com/legislation/119-s-2838)
- [119-s-5283: Momnibus Act](https://policyrisk.com/legislation/119-s-5283)
- [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-2763: Keep Billionaires Out of Social Security Act](https://policyrisk.com/legislation/119-s-2763)
- [119-s-3869: Healthy Families Act](https://policyrisk.com/legislation/119-s-3869)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-4662 (as of 2026-10-18).