What does Preamble of ROBINHOOD Act do?

This bill proposes to amend the Internal Revenue Code of 1986. The stated purpose of the amendment is to ensure high-income individuals pay their fair share of taxes.

What does SHORT TITLE. of ROBINHOOD Act do?

This bill is formally titled the ``Redistribution of Billions by Instituting New High-Income Obligations on Overlooked Debt Act'' or the ``ROBINHOOD Act''.

What does EXCISE TAX ON SECURED LOANS AND LINES OF CREDIT. of ROBINHOOD Act do?

This section amends the Internal Revenue Code of 1986 to impose a 20% excise tax on specified secured loans and lines of credit. The tax applies to loans where the amount borrowed is based on the value of the borrower's capital assets. Residential mortgage loans, home equity loans, margin loans, and loans secured by farmland are excluded from the tax. The tax applies to individuals with an adjusted gross income exceeding $400,000 (or $450,000 for joint returns). Borrowers are responsible for paying the tax, which will be collected annually by the Secretary. The amendments apply to loans and lines of credit extended after the enactment of this Act.

Back to bills

ROBINHOOD Act

Last updated: 12/4/2025 · Introduced: 12/4/2025

Author: Daniel Goldman (D-NY)

TL;DR (AI)

The bill imposes a 20% excise tax on secured loans and lines of credit for individuals with an adjusted gross income over $400,000, excluding residential mortgages, home equity loans, margin loans, and loans secured by farmland.
This tax applies to loans where the amount borrowed is based on the borrower's capital assets.
The bill amends the Internal Revenue Code of 1986 to ensure high-income individuals pay a greater share of taxes.

119th Congressin committeeOfficial page

Verified Votes

No verified votes yet.

Community Votes

No community votes yet. Be the first!

Voting as guest · Sign in for verified votes

Other Sections

Includes provisions on preamble, short title., and 1 more.

3 sections

Click "Show details" to explore individual sections. Use the community vote above or visit All Sections to vote per section.

Read official text

Want the full experience?

Create a free account to cast verified votes on each section, get a personalized summary, and track your voting history.

Create Free Account