Make Billionaires Pay Their Fair Share Act

Wealth Tax on High-Net-Worth Individuals: An annual tax of 5 percent is imposed on individuals or trusts with assets exceeding $1,000,000,000 (Section 101).

Affordability Rebates: Taxpayers may receive rebates of $3,000 for themselves, $6,000 for joint returns, plus $3,000 for each dependent (Section 201).

Health Care Premium Tax Credits: The bill increases eligibility for premium tax credits through a sliding scale based on household income (Section 302).

Medicare Dental Coverage: Medicare enrollees would gain coverage for dental and oral health services, including preventive services, procedures like fillings or crowns, and dentures (Section 402).

Medicare Hearing Coverage: The bill provides coverage for hearing aid examination services and hearing aids for individuals with moderately severe, severe, or profound hearing loss (Section 403).

Medicare Vision Coverage: The bill expands coverage to include routine eye examinations and one pair of conventional eyeglasses or contact lenses (Section 404).

Child Care Entitlement: The bill establishes a program to provide high-quality child care services for eligible children under the age of six (Section 601).

Increased Teacher Compensation: Public elementary and secondary school teachers will be guaranteed a starting annual base salary of at least $60,000, which is intended to be a livable and competitive wage (Section 701).

Career Salary Growth for Educators: The bill ensures that teacher salaries increase regularly throughout a teacher's career based on their years of experience (Section 701 and Section 702).

Improved Home and Community-Based Services: States can receive increased federal medical assistance matching funds to improve access to services, reduce barriers, and expand behavioral health services (Section 802).

Support for Caregivers and Workers: The HCBS provisions aim to strengthen the workforce by updating qualification standards and providing training opportunities for direct care workers and family caregivers (Section 802).

Medicaid Protections: The bill provides a permanent extension of protections against spousal impoverishment for certain Medicaid recipients receiving home and community-based services (Section 805).

Tax Burden on High-Asset Taxpayers: Individuals with net assets exceeding $1,000,000,000 would be subject to a 5 percent annual tax (Section 101).

Increased Tax for Covered Expatriates: Individuals who are covered expatriates and expatriate during the calendar year would face a tax rate of 60 percent (Section 2903).

Medicare Premium Adjustments: The bill includes provisions that affect the determination of monthly actuarial rates and premium subsidies for Medicare Part B (Section 405).

Vision Care Limitations: Coverage for vision services is limited to one routine eye examination every two-year period (Section 404).

Dental Coverage Limitations: Preventive services under the new Medicare coverage are limited to two oral exams, two cleanings, and one full-mouth series of x-rays per year (Section 402).

Restrictions on State Funding Flexibility: To receive increased federal funds, states must adhere to strict "maintenance of effort" requirements, which prevent them from reducing the amount, duration, or scope of existing services (Section 802).

Mandatory State Planning Requirements: States must develop and submit detailed improvement plans and meet specific benchmarks regarding service availability and expenditure percentages to remain eligible for funding (Section 802).