To designate the facility of the United States Postal Service located at 765 West Old Route 66 in Ash Fork, Arizona, as the "Fayrene Hume Post Office".

House Bill

H.R. 4919

119th Congress

To designate the facility of the United States Postal Service located at 765 West Old Route 66 in Ash Fork, Arizona, as the "Fayrene Hume Post Office".

In Committee

Introduced:Aug 8, 2025

Primary Sponsor

Elijah Crane

Representative

Republican

AZ-2

Cosponsors

22

Quick Stats

Policy Area

Taxation

Summary

This bill would create a new tax on the total value of a person's assets, including their property, investments, and other valuable items they own. The tax would apply to people with very high net worth, and the money collected would go to the federal government.

Latest Action

Referred to the House Committee on Ways and Means.

SponsorElijah Crane (R-AZ)

Introduced8/8/2025

StatusReferred to the House Committee on Oversight and Government Reform.

ChamberHouse

Data from Congress.gov

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Vote Prediction

To designate the facility of the United States Postal Service located at 765 West Old Route 66 in Ash Fork, Arizona, as the "Fayrene Hume Post Office".

This bill would create a new tax on the total value of a person's assets, including their property, investments, and other valuable items they own. The tax would apply to people with very high net worth, and the money collected would go to the federal governme

Community Breakdown

Pass

0%

Fail

0%

0 predictions

This bill would create a new tax on the total value of a person's assets, including their property, investments, and other valuable items they own. The tax would apply to people with very high net worth, and the money collected would go to the federal government.

Bill Number: 4919
Sponsor: Elijah Crane (R-AZ)
Introduced: 8/8/2025
Status: Referred to the House Committee on Oversight and Government Reform.
Policy Area: Taxation

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: To designate the facility of the United States Postal Service located at 765 West Old Route 66 in Ash Fork, Arizona, as the "Fayrene Hume Post Office".
Bill Number: 4919
Sponsor: Elijah Crane (R-AZ)
Status: Referred to the House Committee on Oversight and Government Reform.
Introduced: 8/8/2025
Summary: This bill would create a new tax on the total value of a person's assets, including their property, investments, and other valuable items they own. The tax would apply to people with very high net worth, and the money collected would go to the federal government.

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

This bill would create a new tax on the total value of a person's assets, including their property, investments, and other valuable items they own. The tax would apply to people with very high net worth, and the money collected would go to the federal government.

Last updated: 12/30/2025

Official Summary

Congressional Research Service summary

Oligarch Act of 2023 This bill imposes a tax on the net value of all taxable assets of a taxpayer as of the last day of any calendar year (wealth tax). The amount of such tax is equal to certain percentages of the net value of all taxable assets of the taxpayers that exceed a specified threshold amount. The bill defines net value of all taxable assets as the excess of the value of all property of the taxpayer, real or personal, tangible or intangible, wherever situated, over any debts (including secured debts) owed by the taxpayer. The definition excludes property with a value of $50,000 or less, tangible personal property, certain property used in a trade or business, or collectibles. The Internal Revenue Service (IRS) must report on the net value of assets subject to the wealth tax within one year after the enactment of this bill and must annually audit not less than 30% of taxpayers required to pay the tax. The IRS may extend payment of the tax for a reasonable period (not to exceed 5 years) for taxpayers with severe liquidity constraints or for whom immediate payment would impose an undue hardship. The bill provides for enhanced penalties for understatements of the value of property subject to the wealth tax.

Key Points

Main provisions of the bill

Imposes a tax on the net value of all taxable assets owned by taxpayers above a certain wealth threshold
Requires the IRS to audit at least 30% of taxpayers subject to the wealth tax each year
Allows the IRS to let taxpayers pay the tax over a period of up to 5 years if immediate payment would cause severe financial hardship
Increases penalties for underreporting the value of assets subject to the wealth tax

How This Impacts Americans

Potential effects on citizens and communities

This bill would primarily affect very wealthy individuals with a total net worth exceeding the specified threshold. If enacted, it would reduce the wealth and assets of the country's highest-earning households as they would be required to pay a new federal tax on their accumulated wealth.

Policy Areas

Primary Policy Area

Taxation

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

4919, 119th Congress (2025). "To designate the facility of the United States Postal Service located at 765 West Old Route 66 in Ash Fork, Arizona, as the "Fayrene Hume Post Office".". Source: Voter's Right Platform. https://votersright.org/bills/118-hr-4919