New survey data shows Republicans and Democrats in some key states agreeing on taxing the ultra-wealthy.
A sweeping new survey of more than 20,000 Americans has found bipartisan majority support for raising federal taxes on the super wealthy and those with very high incomes.
The survey, conducted across 11 competitive states and 28 competitive House districts by the University of Maryland's Program for Public Consultation (PPC), released October 1, 2026, found that majorities of both Democrats and Republicans in virtually every battleground state and district favor an annual federal wealth tax of 2% on wealth over $50 million and 3% on wealth over $1 billion - a measure that would generate an estimated $200 billion in new revenue.
Where Republicans and Democrats agree
Support for the proposed wealth tax ran from 81% to 95% among Democrats and 58% to 84% among Republicans across individual battleground states and districts. Nationally, 88% of Democrats and 72% of Republicans expressed support, for an overall approval rate of approximately eight in ten Americans.
Capital gains reform drew similarly broad backing. For households earning $1 million or more annually, taxing capital gains at the same rate as ordinary income was supported by bipartisan majorities in every battleground surveyed - 74% to 92% among Democrats and 54% to 73% among Republicans - and nationally by 83% of Democrats and 70% of Republicans. That proposal alone would raise approximately $120 billion.
The carried interest rule (long a flashpoint in debates over tax fairness) also appears ripe for change. Ending the preferential tax treatment for hedge fund managers' income drew bipartisan majority support across all 39 battlegrounds, with 75% to 93% of Democrats and 57% to 81% of Republicans in favor. The estimated revenue impact is approximately $1 billion.
For advisors whose clients include private equity principals or hedge fund professionals, that finding alone warrants a planning review.
Estate and income tax pressures
Beyond the wealth tax headline, the survey data points to two additional areas where advisors should be preparing clients.
Lowering the federal estate tax exemption from $15 million to $5 million, thereby applying the tax to a broader pool of inherited wealth, was favored by majorities of Democrats in every battleground surveyed and by majorities of Republicans in 27 of 39 battlegrounds. Nationally, 71% of Democrats and 59% of Republicans were in favor, with the measure projected to raise approximately $17 billion in revenue.
Meanwhile, raising the effective income tax rate on households earning $1 million or more (from the current average of 27% to at least 29%) drew majority support overall and among Democrats in every battleground, and among Republicans in 21 of the 39 battlegrounds. That change would increase federal revenue by an estimated $73 billion.
What advisors should do now
The PPC survey was fielded between July 21 and August 17, 2026, across nearly 20,000 adults in battleground states and districts.
Steven Kull, director of the Program for Public Consultation at the University of Maryland, noted the consistency of the findings. "Republicans and Democrats agree that federal taxes should be raised on the super wealthy and those with very high income - enough to generate at least $455 billion in new revenue. This is true nationally and in most battleground states and districts," Kull said.
That level of consensus across party lines and geographies is uncommon in contemporary US politics. Bipartisan polling support for tax increases on the wealthy historically accelerates the legislative timeline. Clients exposed to any of these proposed changes - wealth taxes, capital gains reform, estate tax tightening, or income tax hikes - benefit from reviewing strategies now rather than reacting after legislation advances.
The PPC survey results for all individual states and districts are available at vop.org.
