Warren, Schumer, Wyden, Gallego Lead Democratic Caucus In Rejecting Republicans’ Tax Cuts for the Wealthy
Trump’s “Big, Beautiful Bill” would raise costs on 40% of American families, while the top 0.1% would see their taxes cut by an average of $400k per year
Washington, D.C. – U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking Committee, and Minority Leader Chuck Schumer (D-N.Y.), along with Senators Ron Wyden (D-Ore.), Ranking Member of the Senate Finance Committee, and Ruben Gallego (D-Ariz.), led the entire Senate Democratic caucus in urging Republican Leader John Thune (R-S.D.) and Senate Finance Chairman Mike Crapo (R-Ind.) to abandon their plan to cut taxes for billionaires and instead work together to help American families.
“Senate Democrats oppose efforts to give the richest Americans a tax break, especially at a time when ordinary Americans are struggling to make ends meet because of this administration’s reckless economic actions,” wrote the senators.
Trump promised to lower costs for American families “on day one.” Instead, the Republican agenda raises costs on families while showering benefits on billionaires.
Their “Big, Beautiful Bill” takes away health insurance from 16 million Americans and makes it harder for families to put food on the table. Meanwhile, the average person in the top 0.1% would get a tax cut of nearly $400,000 in 2026. When combined with Trump’s tariff tax, which he has suggested helps pay for the bill, the Republican agenda raises costs on 80 percent of American families, funneling its benefits solely to the most affluent.
“If Republicans continue down the path of slashing taxes for the ultra-wealthy and destroying vital benefits for working families, we will stand opposed to those efforts—and so will the American people,” the caucus concluded.
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