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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWarren to Join Senate Finance Committee; Will Introduce Wealth Tax
FEBRUARY 02, 2021
Washington, DC -- United States Senator Elizabeth Warren (D-Mass.) will join the United States Senate Committee on Finance in the 117th Congress. She also announced plans to introduce legislation implementing a wealth tax on fortunes over $50 million. The Finance Committee's jurisdiction covers taxation and revenue policy, including oversight of the Internal Revenue Service. The senator's legislation reflects her 2020 campaign proposal to impose a two cent tax on every dollar of individual wealth over $50 million, with an additional surtax on every dollar of wealth over $1 billion. Warren will remain on the Senate Committee on Banking, Housing, and Urban Affairs, the Senate Armed Services Committee, and the Senate Special Committee on Aging. She released the following statement:
"I'm very pleased to join the Finance Committee, where I'll continue to fight on behalf of working families and press giant corporations, the wealthy, and the well-connected to finally pay their fair share in taxes. I look forward to being a progressive voice at the table to secure meaningful relief and lasting economic security for struggling families, including as an aggressive advocate for accomplishing much of our agenda through the budget reconciliation process.
"Our to-do list is long. We must provide immediate relief for families struggling under the weight of twin health and economic crises. We must make health care in America a human right and expand public programs like Medicaid and lower the Medicare eligibility age. And we must ensure those at the very top actually pay their fair share to keep America strong -- including a wealth tax on fortunes over $50 million to fund needed investments for working families.
https://www.warren.senate.gov/newsroom/press-releases/warren-to-join-senate-finance-committee-will-introduce-wealth-tax
Cirque du So-What
(25,921 posts)So pleased this is happening.
jimfields33
(15,758 posts)Lets say a person makes 55 million. That person just needs to find a way to get to 49 million.
theneworiginal
(302 posts)Won't have much use for being financially responsible when this comes to vote.
What are they gonna say?--billionaires are struggling, too. Hard sell.
lindysalsagal
(20,640 posts)Oh, HELL yes!
Faux pas
(14,657 posts)Wellstone ruled
(34,661 posts)alignment of the Committee's,wow,the 117 th appearing to be one heck of a Progressive operation. Hang on Folks,we are in for some real positive things to happen after thirty plus years of Austerity.
BComplex
(8,029 posts)This is where we should have Manchin on our side instead of voting with the republicans in lieu of his demand for "bipartisanship". We have to get some more senators in 2022!!
Zorro
(15,730 posts)Frame it as helping support our wonderful capitalist system.