# Three tax proposals targeting the rich that the new Congress could revive

- URL: https://talkfuse.com/story/three-tax-proposals-targeting-the-rich-that-the-new-congress-could-revive/
- Published: 2026-11-05T15:16:10+00:00
- Updated: 2026-11-06T01:06:38+00:00
- Original publisher: CNBC (publisher lean: Centre)
- Original article: https://www.cnbc.com/2026/11/05/three-tax-proposals-targeting-the-rich-the-new-congress-could-revive.html
- Topics: Business, Government, Markets, Politics

## Key points

- Democrats are renewing efforts to tax the wealthy.
- Carried interest and large trusts are among the targets.
- The proposals are unlikely to pass under current political conditions.

## Summary

Democrats’ gains in the midterm elections have renewed interest in raising taxes on wealthy Americans, with Senate Finance Committee chair Ron Wyden saying the committee will press for billionaires and corporations to pay more. Three proposals before the committee could draw greater attention, although tax lawyers say they are unlikely to become law while Democrats lack the votes to override a presidential veto.

One proposal would tax carried interest as ordinary income and require fund managers to pay tax on deemed compensation annually, rather than waiting until investments are sold. Another would introduce an annual graduated tax on trust assets above $50 million, rising to 3% for assets over $1 billion, with tax paid credited against certain taxes when assets are transferred; the article text also refers to a third proposal but does not provide its details. Lawyers say the proposals may help indicate what could be considered under a future administration, and that carried-interest changes may be more viable as part of a broader tax bill.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.