Apparently the controversy is that some conservative commentators have started making, let's say, fairly inaccurate statements about the BMIT. Like that it will be a new annual federal tax on your home. Which is true. If your homes (& other net assets) are worth $100 million. 2/a few

The BMIT is a "mark-to-market" tax on households with $100m+ in net worth. MtM means that you pay income tax on the annual gains/losses of your property, rather than the traditional rule where you wait until you sell. Many, many people, including some reasonable ones, think MtM can't work. 3/