Billionaires would pay annual taxes on their investment gains, ending indefinite deferrals.
This bill would require individuals with over $100 million in income or $1 billion in assets to pay taxes each year on their investment gains, even if they don't sell the assets. Certain trusts with over $10 million in income or $100 million in assets would also face these annual taxes. It aims to end strategies like "buy, borrow, die" where the ultra-wealthy can avoid taxes indefinitely and pass untaxed assets to heirs.
Today, ultra-wealthy individuals can often defer paying taxes on their investment gains indefinitely by holding onto assets, borrowing against them, and passing them to heirs tax-free. After this bill, individuals with over $100 million in income or $1 billion in assets, and certain trusts with over $10 million in income or $100 million in assets, would be required to pay annual taxes on their investment gains, ending the ability to defer these taxes indefinitely or avoid them entirely upon death.
HR 5427 · 119th Congress · September 17, 2025 · AI Summary by gemini-2.5-flash · 8/10
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13 filings mentioned this bill
Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.