Wyden Statement on the State of the Union Address
Washington, D.C. — Senate Finance Committee Chair Ron Wyden, D-Ore., released the following statement today in reaction to President Biden’s State of the Union address:
“Tonight the president once again made a strong argument for why the Congress ought to pass my Billionaires’ Income Tax as the centerpiece of an effort to ensure that the ultra-wealthy and big corporations finally pay their fair share. That’s my next major priority on taxes after Congress passes my bipartisan bill expanding the child tax credit. It’s key to shoring up bedrock American programs like Medicare and Social Security that protect seniors from destitution and uphold the middle class.
“Right now the U.S. has the strongest major economy in the world, inflation is down, we’re in the midst of an historic boom in manufacturing and clean energy production, and the labor market has never been better for workers. Democrats have relentlessly focused on rebuilding our economy in a way that gives everybody a shot to get ahead, but one of the biggest obstacles to that essential goal is the unfairness written into our tax code.
“Workers like firefighters and nurses live by strict tax rules and pay out of every paycheck, but the ultra-wealthy are able to pay what they want, when they want, and sometimes get away with paying nothing at all. Making sure that billionaires pay what they owe -- the fair share that everybody else in this country contributes automatically -- is one of the most popular policies on offer today. I’m going to keep working at it until Congress gets it done.
“The president is also taking on corporate greed in health care by looking at mergers that raise health costs and don’t benefit patients and at tactics used by middlemen -- such as pharmacy benefit managers -- to consolidate their market power and steer patients away from lower cost drugs. I have bipartisan legislation that will rein in the middlemen that rip off patients at the pharmacy counter.
“Americans face a lot of big choices in November. Those choices involve the freedom of women, the protection of our democracy, and the power of corporations and special interests to trample on the rights and wellbeing of typical Americans with the help of a corrupt Supreme Court.
“Another choice Americans face in November is whether to side with Democrats and demand that the ultra-wealthy and big corporations finally pay what they owe, or go along with Trump Republicans and let them off the hook. Donald Trump wants to make sure the tax code is further rigged to benefit himself and people like him, but the American people have the power to make sure that doesn’t happen. The president’s speech tonight was an important reminder that this issue is going to be on the ballot too.”
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