What is included in Bernie Sanders make billionaires pay their fair share act?

The "Make Billionaires Pay Their Fair Share Act," introduced by Senator Bernie Sanders and Representative Ro Khanna, proposes a 5% annual wealth tax on individuals in the United States with a net worth exceeding $1 billion. The bill targets approximately 900 to 938 billionaires, aiming to tax their assets above the $1 billion threshold. The legislation is framed as a moral and economic effort to ensure the ultra-wealthy contribute more fairly to the tax system. While the exact projected revenue figures vary slightly among sources, the core elements of the act—a 5% annual tax on wealth above $1 billion—are consistently reported. Despite all sources being non-trusted and lacking independent verification, the uniformity of details across multiple reports supports the claim’s accuracy. No significant contradictory information or conspiracy elements are present.