S. 4490
Introduced in Senate · May 18, 2026May 12, 2026
Mrs. Murray (for herself, Mr. Wyden, Mr. Van Hollen, Mr. Booker, and Ms. Alsobrooks) introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to provide a tax on the assets of trusts, and for other purposes.
Imposition of tax
Computation of tax
Trust withholding credit account
Determination of net value of assets
Other definitions and special rules
Information with respect to trust asset tax
Gross up of taxable amount to include additions to trust withholding credit account
Credit for previously paid trust asset taxes
Trust withholding credit account balance
Credit for previously paid trust asset taxes
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. Short title.
This Act may be cited as the “Fair Trusts for Fiscal Responsibility Act”.