Chairman's Press
Whitehouse, Pallone Join Forces to Press Big Oil for Answers About Suspected Collusion with OPEC
Washington, D.C. — Today, Senate Budget Committee Chairman Sheldon Whitehouse (D-RI) and House Energy and Commerce Committee Ranking Member Frank Pallone, Jr. (D-NJ) announced they are joining forces to turn up the heat on fossil fuel companies suspected of illegally conspiring with the Organization of the Petroleum Exporting Countries (OPEC), the international oil cartel, or representatives of its member countries to artificially raise prices on Americans and increase their own profits. Chair… Continue Reading
10.02.24
CBO Finds Yawning Wealth Gap Continues, Highlights Congressional Imperative to Unrig Tax Code
Washington, D.C. — A new report by the Congressional Budget Office (CBO) found wealth inequality in the United States has widened significantly since 1989, as the rich have captured an even larger share of overall wealth. According to the latest data, the wealthiest 10 percent of families now control 60 percent of U.S. wealth, while the bottom half of families hold just over 6 percent. At the very top, wealth has become even more concentrated: the top 1 percent of Americans now control more t… Continue Reading
09.26.24
Raising the Retirement Age is a Benefit Cut, CBO Finds
The Congressional Budget Office (CBO) released a report showing that raising the Social Security retirement age to 69—as House Republicans have proposed—would slash benefits for hardworking retirees. The report finds that Social Security benefits would be cut by an average of 13 percent if the Republicans’ plan were fully implemented. “Raising the retirement age is a benefit cut, as CBO has made crystal clear” said Senate Budget Chairman Sheldon Whitehouse (D-RI). “With Social Security facing … Continue Reading
09.25.24
Whitehouse Blasts Paul’s Budget
Washington, D.C.— U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, delivered the following remarks from the Senate Floor in opposition to Senator Rand Paul’s (R-KY) proposed budget, which would extend the Trump tax cuts for the wealthy—costing $4.6 trillion—while cutting $20 trillion in federal spending and omitting all details about what he would cut. Senator Paul introduced his budget despite there already being a two-year budget deal in place—one that was… Continue Reading
09.25.24
Whitehouse Statement at Housing Hearing
U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, delivered the following opening statement at today’s hearing,titled “The Costs of Inaction: Economic Risks from Housing Unaffordability.” Yesterday, Senator Whitehouse introduced the Affordable Housing Construction Act, new legislation to make housing more affordable by more than tripling the size of the Low-Income Housing Tax Credit (LIHTC) and providing additional funding for sustainable, accessible, and ener… Continue Reading
09.11.24
Whitehouse Statement at Social Security Hearing
U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, delivered the following opening statement at today’s hearing, titled “Social Security Forever: Delivering Benefits and Protecting Retirement Security.” Chairman Whitehouse’s remarks, as prepared for delivery: Today’s hearing will examine the challenges facing one of our most important government programs, Social Security. Social Security has been a pillar of retirement security for millions of seniors for ne… Continue Reading
09.10.24
In New Bicameral Letters, Democrats Demand Big Oil Executives Comply with Investigation Into Trump’s Attempt to Sell Official Actions for $1 Billion
Today, Sen. Sheldon Whitehouse, Chairman of the Senate Budget Committee; Sen. Ron Wyden, Chairman of the Senate Finance Committee; and Rep. Jamie Raskin, Ranking Member of the House Committee on Oversight and Accountability sent new letters to top oil and gas executives demanding compliance with the Committees’ original requests for information regarding quid pro quo solicitations made by former President Donald Trump. Mr. Trump offered to sign Executive Orders and take other official actions t… Continue Reading
07.10.24
Whitehouse Statement at Hearing on CBO’s Budget and Economic Outlook
Washington, D.C.— U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, delivered the following opening statement at today’s hearing, titled “Examining CBO’s Updated 2024-2034 Budget and Economic Outlook.” Chairman Whitehouse’s remarks, as prepared for delivery: I am pleased that we are joined by Director Swagel today to discuss the federal government’s fiscal trajectory. My Republican colleagues complain that I and my Democratic colleagues are unconcerned ab… Continue Reading
06.27.24
Budget Committee Initiates Probe into Suspected Collusion Between Big Oil and OPEC
Washington, D.C.—Senate Budget Committee Chairman Sheldon Whitehouse (D-RI) has launched an investigation demanding answers from 18 oil producers about any efforts to illegally coordinate with the Organization of the Petroleum Exporting Countries—the international oil cartel—or representatives of its member countries that would artificially raise prices on American consumers and increase costs for the federal government. The new probe follows revelations from the Federal Trade Commission that f… Continue Reading
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 … Continue Reading
06.12.24
Whitehouse: Our Tax Code Is Corrupted and Rotten
Washington, D.C.— U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, delivered the following opening statement at today’s hearing, titled “Making Wall Street Pay Its Fair Share: Raising Revenue, Strengthening Our Economy.” Chairman Whitehouse’s remarks, as prepared for delivery: Ranking Member Grassley, members of the committee, witnesses, and guests, welcome. Next year, a number of provisions from the 2017 Trump tax cuts will expire. Republicans have made … Continue Reading
06.10.24
Whitehouse, Boyle Call on Federal Reserve to Begin Cutting Interest Rates
Washington, D.C. - Today, Senate Budget Committee Chairman Sheldon Whitehouse and House Budget Committee Ranking Member Brendan F. Boyle sent a letter to Federal Reserve Board Chair Jerome Powell ahead of this week’s Federal Open Market Committee (FOMC) meeting, expressing concern over the harmful economic effects of prolonged elevated interest rates and calling on the Fed to begin lowering rates. “Excessively tight monetary policy may jeopardize the strong job market that the U.S. has enjoyed … Continue Reading
06.05.24
Whitehouse Opening Statement at Hearing on Insurance Upheaval from Climate Change
Washington, D.C.— U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, delivered the following opening statement at today’s hearing, titled “Riskier Business: How Climate Change is Already Challenging Insurance Markets.” Chairman Whitehouse’s remarks, as prepared for delivery: Members of the Committee, witnesses, guests. More than a year has passed since our hearing on climate havoc in the insurance industry upending housing markets, mortgage markets, and loca… Continue Reading
05.23.24
Budget, Finance Committees Launch Joint Investigation into Donald Trump’s Quid Pro Quo Offer to Big Oil
Washington, D.C.— Following reports that former President Donald Trump made quid pro quo propositions to Big Oil executives—promising to roll back climate policies if he were re-elected in exchange for donations to his campaign—Senate Budget Committee Chairman Sheldon Whitehouse (D-RI) and Senate Finance Committee Chair Ron Wyden (D-OR) are demanding answers from nine oil and gas companies and their trade associations. As has been widely reported, former President Trump requested $1 billion in … Continue Reading
05.22.24
Whitehouse, Raskin Urge DOJ to Investigate Fossil Fuel Disinformation
Washington, D.C. - Today, Senate Budget Chairman Sheldon Whitehouse and House Oversight and Accountability Ranking Member Jamie Raskin called on Attorney General Merrick Garland to investigate Big Oil for its decades-long disinformation campaign to mislead the public about the climate effects of fossil fuels and obstruct climate action. The letter follows multiple House Oversight Committee hearings and memoranda—as well as the release of a joint staff report and a Senate Budget hearing—major mi… Continue Reading
05.15.24
Whitehouse Opening Statement at Hearing on Climate Change and the Costs to National Security
Washington, D.C.— U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, delivered the following opening statement at today’shearing, titled “Budgeting for the Storm: Climate Change and the Costs to National Security.” Chairman Whitehouse’s remarks, as prepared for delivery: Ranking Member Grassley, members of the committee, witnesses, and guests: welcome. As we examine the looming economic dangers of climate change, today we’ll learn about the strain it’s placi… Continue Reading
05.08.24
Extending Trump Tax Cuts Would Add $4.6 Trillion to the Deficit, CBO Finds
Washington, D.C.—According to the latest report by the nonpartisan Congressional Budget Office (CBO), extending the Trump tax cuts for the next 10 years—as Republicans have proposed—would add $4.6 trillion to the deficit. The report, written at the urging of Senator Whitehouse (D-RI), Chairman of the Senate Budget Committee, and Senator Wyden (D-OR), Chairman of the Senate Finance Committee, finds that the extension would cost $1.1 trillion more than previously estimated. The Trump tax cuts ov… Continue Reading
05.08.24
Whitehouse Opening Statement at Hearing on Alleviating Administrative Burdens in Health Care
Washington, D.C.— U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, delivered the following opening statement at today’s hearing, titled “Reducing Paperwork, Cutting Costs: Alleviating Administrative Burdens in Health Care.” Chairman Whitehouse’s remarks, as prepared for delivery: Ranking Member Grassley and members of the committee, today’s hearing will examine administrative cost in health care, how it harms patients and providers, and how much it increase… Continue Reading
05.06.24
Whitehouse Statement on Medicare and Social Security Trustees Reports
Washington, D.C.—Senate Budget Committee Chairman Sheldon Whitehouse (D-RI) issued the following statement after theMedicare and Social Security Boards of Trustees released their annual reports. Due to a stronger-than-expected economy, Medicare can pay full benefits for five more years than previously projected, and Social Security can pay full benefits for one additional year. “It’s good news that Medicare and Social Security can pay full benefits for longer, but it’s cold comfort to the milli… Continue Reading
05.04.24
ICYMI – Senate Budget Committee Exposes Big Oil’s Evolving Efforts to Avoid Accountability for Climate Change
Washington, D.C.— The Senate Budget Committee, chaired by Senator Sheldon Whitehouse (D-RI), held a hearing that exposed the fossil fuel industry’s deception and doublespeak to mislead the public and avoid accountability for climate change. The hearing followed the release of shocking new documents alongside a joint staff report, published by the Senate Budget Committee and Democrats on the House Committee on Oversight and Accountability, as part of a multi-year investigation that was initiated… Continue Reading
