BREAKING: Trump Responds to Rep. Dan Goldman After He Introduces the ROBINHOOD Act to Tax the Loans Used by Elon Musk, Jeff Bezos, and Other Billionaires to Avoid Paying Taxes — A Plan Estimated to Generate $276 Billion for Universal Childcare and Other Public Programs

President Donald Trump issued a sharp response on Thursday after Rep. Dan Goldman (D-NY) introduced the “ROBINHOOD Act,” a new bill targeting what lawmakers call a major tax loophole used by some of America’s wealthiest individuals.

The legislation aims to tax large, low-interest loans that billionaires often take out against their assets—loans critics say allow them to live off borrowed money while paying little to no income tax.

Goldman argues the bill would make the tax system “fairer” and could generate an estimated $276 billion to fund universal childcare, early-learning programs, and other public services.

Trump dismissed the proposal as “radical,” accusing Democrats of trying to “punish success” and warning that the bill would discourage investment and innovation.

“This is another attack on American business and the people who create jobs,” Trump said in a statement, adding that targeting high-net-worth individuals like Elon Musk and Jeff Bezos was “politically motivated.”

Goldman defended the bill, saying it closes a loophole that “only exists for the ultra-rich” and ensures billionaires contribute “their fair share” to the economy that supports their wealth.

The ROBINHOOD Act is expected to face fierce debate in Congress, with Democrats praising it as long-overdue reform and Republicans rejecting it as a tax hike on economic growth.