Imposes a 20% tax on secured loans and lines of credit for high-income individuals.

The ROBINHOOD Act introduces a 20% excise tax on secured loans and lines of credit for individuals with an adjusted gross income exceeding $400,000 (or $450,000 for joint returns). This tax applies to loans secured by capital assets, excluding residential mortgages, home equity loans, margin loans, and farm loans. The tax is paid by the borrower and collected annually by the Secretary of the Treasury. The tax aims to ensure high-income individuals contribute their fair share to the tax system.

Imposes a 20% tax on secured loans and lines of credit for high-income individuals.

The ROBINHOOD Act introduces a 20% excise tax on secured loans and lines of credit for individuals with an adjusted gross income exceeding $400,000 (or $450,000 for joint returns). This tax applies to loans secured by capital assets, excluding residential mortgages, home equity loans, margin loans, and farm loans. The tax is paid by the borrower and collected annually by the Secretary of the Treasury. The tax aims to ensure high-income individuals contribute their fair share to the tax system.