Senators Bernie Sanders and Representative Ro Khanna have introduced the "Make Billionaires Pay Their Fair Share Act," a proposed bill that would implement a 5% annual wealth tax on U.S. billionaires, defined as individuals with a net worth of $1 billion or more. This legislation, aimed at raising an estimated $4.4 trillion over a decade, would fund initiatives such as direct payments to lower-income households, expanded Medicare coverage for dental, vision, and hearing, and the creation of affordable housing. The bill's proponents, including economists from UC Berkeley, estimate significant tax liabilities for prominent billionaires like Elon Musk, Mark Zuckerberg, and Jeff Bezos. While unlikely to pass in the current political climate, the proposal is seen as potentially influencing the 2028 Democratic presidential primary.