According to a 2026 report by the Federal Reserve, the wealthiest 1% of Americans have seen significant increases in their net worth, driven by a surging stock market and tax policies enacted during the Trump administration. The report, released in June 2026, indicates that the top 1% now holds a record share of national wealth, exceeding 32%.
The stock market, as measured by the S&P 500, has risen over 15% in the past year, benefiting those with substantial equity holdings. Additionally, the Tax Cuts and Jobs Act of 2017, which lowered corporate and individual tax rates, has disproportionately benefited high-income households, according to the nonpartisan Tax Policy Center.
Critics argue that these policies have exacerbated income inequality. The Economic Policy Institute noted that wage growth for the bottom 90% has lagged behind asset appreciation, widening the wealth gap. The Biden administration has proposed measures to address this, including higher taxes on capital gains and increased funding for social programs, but these remain stalled in Congress.
