WASHINGTON, D.C. – Ahead of yesterday’s House vote on the so-called “Big Beautiful Bill,” Tax the Greedy Billionaires released a new video highlighting how House Republicans voted against a range of amendments introduced by House Democrats that would block tax cuts to multi-millionaires and billionaires. Rep. Steven Horsford (D-NV) called out conservatives, noting, “They have a choice, and they’re always going to keep protecting the billionaire class.”
House Democrats introduced a wide-range of amendments to block tax cuts for the ultra-rich, focusing on increasingly wealthy individuals after each effort was shut down by conservatives.
- Rep. Judy Chu (D-CA) introduced an amendment halting tax cuts for those earning over $10 million.
- Rep. Don Beyer (D-VA) had a similar amendment focused on those making over $100 million a year.
- Rep. Jimmy Gomez (D-CA) pushed to increase taxes on the billionaire class, which was also blocked by conservatives.
Congressional Republicans’ rejection of these amendments indicate an effort to double down on protecting tax cuts for the wealthy, in spite of the potential backlash. A recent Morning Consult poll found that 70% of Republicans believed “the wealthiest Americans should pay higher taxes,” up from 62% six years ago. Taxing the ultra-wealthy is so popular that even Donald Trump has floated the possibility of doing just that.
Last week, the Yale Budget Lab released a new analysis showing that Congress could extend tax cuts for the middle class without adding one penny to the deficit or hurting regular Americans by imposing a modest millionaire surtax. Doing so would raise $1.5 trillion over the next ten years, while also breaking up the dangerous concentration of wealth threatening our economy, democracy, and climate.
For more information about the Tax the Greedy Billionaires campaign, visit https://taxgreed.org/ or email [email protected].
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