The activists known as the Patriotic Millionaires, who describe themselves as "proud traitors to their class," want to meet with every member of Congress as part of a lobbying campaign aimed at persuading lawmakers to raise taxes on the rich.
During these meetings, the millionaires intend to use the threat of withholding their endorsements as a way to persuade those on the fence to join their crusade.
"As you can imagine in an election year our members are routinely called when they are soliciting fundraisers. The one thing they are going to ask is why don't you tax the rich," Patriotic Millionaires executive director Kelsea-Marie Pym told CNBC. "We are saying get on the bus or get off the bus. Are you on the bus of helping the country in the direction we are headed in or not?"
The millionaires in the group tend to back Democratic politicians. It is unclear whether the lobbying campaign will have any impact on Republican lawmakers.
The two-pronged strategy will also include a digital ad campaign touting the political value of taxing the wealthy. The effort's cost will register in the the low-seven figures, a spokeswoman for the organization said.
"I am going to tell you what we want is for a progressive tax system for people with more wealth to pay higher tax rates than people who are actually working people," said Patriotic Millionaires Chairman Morris Pearl, a former executive at asset manager BlackRock. "We don't think the current system is fair." He declined to say how high he would like to see taxes raised on the rich.