06.13.24

Whitehouse Calls for Making the Wealthy and Corporations Pay Their Fair Share, Putting American Workers and Families First in 2025 Tax Debate

Washington, D.C.—U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, issued the following statement echoing the Biden Administration’s call to fix the tax system so it helps hardworking Americans and the middle class, rather than the wealthy and well-connected:

“As Congress gears up for the 2025 tax debate, Republicans are lining up to deliver even more budget-busting giveaways to their billionaire buddies. Republicans would like us to believe that their plans to add $4.6 trillion to the deficit so that Wall Street can pay lower rates than nurses and plumbers is somehow good for workers, but the American people know better.

“This time around, it’s not enough to just undo the damage of the Trump tax scam; special interests were getting special tax treatment before that. That’s why Democrats are focused on finally de-corrupting the tax code and putting American workers and families first by making big corporations and the wealthy pay their fair share.  Democrats’ proposals will level the playing field for American workers and small businesses by ending tax breaks for multinationals that send jobs and profits offshore, protect Social Security and Medicare by making the wealthy contribute their fair share, and invest in an economy that works for everyone—all while reducing the deficit and ensuring that those making less than $400,000 don’t see their taxes go up.”

This Congress, the Budget Committee has held a series of hearings on how making Wall Street pay its fair share levels the playing field for small businesses and American workers, how the Trump tax cuts for the wealthy and big corporations are driving up the national debt, how cracking down on wealthy tax cheats brings down the deficit, how the Trump tax law shipped jobs and profits overseas, how the wealthy and big corporations exploit loopholes to dodge taxes and hide profits offshore to evade paying what they owe, and how making the wealthy pay their fair share could ensure Medicare and Social Security solvency indefinitely.

Chairman Whitehouse has long fought to de-corrupt the tax code and has introduced a number of bills to make the wealthy and corporations pay their fair share, including the: