Senator Elizabeth Warren declared her 2020 presidential bid on a platform based on policies to rebuild the American middle-class. A key part of her campaign will be a progressive wealth tax on the net worth of American households, including a 2% tax on net worth above $50 million, and an additional 1% tax on net worth above $1 billion. UC Berkeley economists Emmanuel Saez and Gabriel Zucman—the researchers whose analysis forms the basis of the plan—estimate that "75,000 American households (less than 0.1%) would be liable for the wealth tax and that the tax would raise around $2.75 trillion" in the first ten years of its implementation.