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S. 4662119th CongressIn committeeLatest action Jun 2, 2026Decoded by AI · checked against the record
The plain-language version leads. The official text is always the reference.
The ROBINHOOD Act would tax large loans backed by stock as if the assets were sold, hitting only the ultra-wealthy.
50-second read · 4 questions answered below
This bill would treat large loans taken out against stocks or other assets by very wealthy people as if enough of those assets were sold to cover the loan, triggering capital gains tax. Long-term leases over five years would be treated the same way, closing a loophole where borrowing against assets avoids taxes that selling them would trigger.
It applies only to "applicable taxpayers": people with over $100 million in yearly income or over $1 billion in assets sustained over three years, plus certain large trusts, estates, and people who renounced citizenship to avoid taxes. Ordinary Americans, most millionaires, retirees, and typical business owners are not affected.
The change would eliminate a strategy allowing the extremely wealthy to access cash from investment gains without ever paying income tax on those gains. It would not change tax treatment for the vast majority of taxpayers, whose income and assets fall far below the thresholds.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: a Senate committee is reviewing it. If the House changes it, it goes back to the Senate before reaching the President.
Latest action: — Read twice and referred to the Committee on Finance.