Press Release: Rep. Laura Friedman Introduces Bill to Tax Large Asset-Backed Loans
Investivoq CongressRadar
Friedman proposes taxing ultra-wealthy asset-backed loans to curb a tax loophole and protect ordinary borrowers.
Investivoq AI Summary
Bill introduced: U.S. Rep. Laura Friedman said she introduced the “Pay Your Taxes Avoided by Borrowing (TAB) Act” on Oct. 20, 2026. The proposal aims to close what she calls the “buy, borrow, die” loophole, which she says allows wealthy people to access cash through loans backed by assets without paying tax on gains.
How it would work: The bill would impose a 23.8% excise tax on certain large asset-backed loans above $1 million, while exempting items such as primary-home mortgages up to $3 million, student loans, business loans and qualified margin loans. The measure would also require lender reporting and direct Treasury to write anti-avoidance rules.
Supporters’ view: Friedman said the plan would tax borrowing against wealth “the same way as selling it,” while leaving ordinary family loans untouched. The release says the tax would apply only to loans issued after Dec. 31, 2026, and would provide an offsetting capital loss later to avoid double taxation.
Disclaimer: This is an AI-generated summary of a press release. The model used to summarize this release may make mistakes. See the full release here.
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Laura Friedman Fundraising
Laura Friedman recently disclosed $112.6K of fundraising in a Q3 FEC disclosure filed on October 15th, 2026. This was the 717th most from all Q3 reports we have seen this year. 56.9% came from individual donors.
Friedman disclosed $95.2K of spending. This was the 853rd most from all Q3 reports we have seen from politicians so far this year.
Friedman disclosed $488.0K of cash on hand at the end of the filing period. This was the 546th most from all Q3 reports we have seen this year.
You can see the disclosure here, or track Laura Friedman's fundraising on Investivoq.
Laura Friedman Net Worth
Investivoq estimates that Laura Friedman is worth $1.5M, as of October 20th, 2026. This is the 296th highest net worth in Congress, per our live estimates.
Friedman has approximately $518.1K invested in publicly traded assets which Investivoq is able to track live.
You can track Laura Friedman's net worth on Investivoq's politician page for Friedman.
Laura Friedman Bill Proposals
Here are some bills which have recently been proposed by Laura Friedman:
- H.R.10846: To amend the Internal Revenue Code of 1986 to impose an excise tax on certain indebtedness, and for other purposes.
- H.R.9348: Public Access Protection Act
- H.R.8217: Next Gen Road Safety Act
- H.R.7062: Build HUBS Act
- H.R.6298: Safe and Affordable Transit Act
- H.R.5085: To exempt Federal actions related to the construction of infill housing from the requirements of the National Environmental Policy Act of 1969, and for other purposes.
You can track bills proposed by Laura Friedman on Investivoq's politician page for Friedman.
2026 California's 30th Congressional District Election
There has been approximately $1,544,338 of spending in California's 30th congressional district elections over the last two years, per our estimates.
Approximately $15,233 of this has been from outside spending by PACs and Super PACs. Some of the groups who are spending money in this race include:
- AMERICAN INDEPENDENT PARTY OF CALIFORNIA ($7,909)
- CONSERVLA ($7,085)
The rating for this race is currently "Solid D".
You can track this election on our matchup page for the 2026 California's 30th congressional district election.
