“Republicans should not increase costs for working families in order to cut taxes for ultra-millionaires, billionaires, and wealthy corporations.”
WASHINGTON – Today, Senator Ruben Gallego (D-AZ), along with Democratic Leader Chuck Schumer (D-NY) and Senators Ron Wyden (D-OR) and Elizabeth Warren (D-MA) led the entire Democratic caucus in urging Republican Leader John Thune (R-SD) and Senate Finance Chairman Mike Crapo (R-ID) to abandon their plan to cut taxes for billionaires and instead work together to help American families.
“Republicans should abandon their partisan plan to raise costs for working families to pay for tax cuts for the ultra-rich. Instead, we are eager to work on bipartisan legislation to provide tax relief and lower costs for American families without giveaways to the wealthy,” wrote the Senators. “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 Republicans’ budget bill takes away health insurance from 16 million Americans, makes it harder for families to put food on the table, and raises energy costs by more than $160 billion in order to slash taxes for the ultra-rich. The non-partisan Congressional Budget Office found the bill would raise costs for families making less than $75,000, including by more nearly $1,600 for families making less than $40,000 per year. 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.
Trump promised to lower costs for American families “on day one.” Instead, the Republican agenda raises costs on families while showering benefits on billionaires. Senate Democrats reject this bill and stand ready to work across the aisle to provide real tax relief for the American people.
Read the full letter HERE.
6/17/25