Wyden Bill Ensures Wealthy Investors Pay Fair Share in Taxes
Washington, D.C. – Senate Finance Committee Chair Ron Wyden, D-Ore., today introduced legislation to close loopholes that allow wealthy investors to use derivatives contracts to not pay tax on the underlying investments. Derivatives are a financial bet that a stock or other investment will go up or down in value. Wealthy investors are able to […]
Wyden, Whitehouse Bill Ensures Private Equity Moguls Pay Fair Share In Taxes
Washington, D.C. – Senate Finance Committee Chair Ron Wyden, D-Ore., and Senator Sheldon Whitehouse, D-R.I., today introduced legislation to close the carried interest loophole and ensure hedge fund managers and private equity CEOs pay their fair share in taxes. Unlike other bills, the senators’ bill would close the entire carried interest loophole—re-characterization of income from […]
Wyden, Lummis, Toomey Amendment Would Clarify Digital Asset Reporting Requirements
Washington, D.C. – Senate Finance Committee Chair Ron Wyden, D-Ore., Senator Cynthia Lummis, R-Wyo., and Senator Pat Toomey, R-Pa., today filed an amendment clarifying the definition of “broker” with respect to digital asset third-party reporting requirements. The senators’ amendment would clarify that “brokers” mean only those persons who conduct transactions on exchanges where consumers buy, sell and trade digital assets, […]
Wyden Statement on DOJ Opinion on Ways and Means’ Trump Taxes Request
Senate Finance Committee Chair Ron Wyden, D-Ore., today issued the following statement on the Justice Department’s opinion on the Ways and Means Committee’s request for President Trump’s tax returns: “Today is a good day for the rule of law and congressional oversight. This action by the Justice Department confirms that Secretary Mnuchin acted outside the […]
Wyden Calls on Oregon Insurers to Provide Seniors With Cooling and Air Filters
Letters Come as Oregon Experiences Record-Breaking Heat Waves and Wildfires Washington, D.C. – Oregon Senator Ron Wyden today asked leading health insurance companies in Oregon to provide seniors who have Medicare Advantage (MA) plans with air conditioning units and air filtration units to improve their health during a record-breaking summer of heat and fires. “Excessive […]
Wyden, Neal Release New Data Showing Explosion in Use Of Mega-IRA Accounts by Wealthy
Washington, D.C. – Senate Finance Committee Chair Ron Wyden, D-Ore., and House Ways & Means Committee Chair Richard E. Neal, D-Mass., today released new data requested from the Joint Committee on Taxation (JCT) on the prevalence of mega-IRA accounts. The data provides an update to a 2014 Government Accountability Office (GAO) report requested by Wyden. […]
Wyden Statement at Finance Committee Hearing on Retirement Legislation
Before anybody ever heard of COVID-19, it was already far too difficult for Americans to save for a dignified retirement. According to the National Institute on Retirement Security, as of 2018, more than 100 million working-age Americans had no pension or any retirement assets. The pandemic economic crash made saving even harder. A recent survey […]
Wyden, Democrats Introduce Bill To Help Working Families Save For Retirement
WASHINGTON –Senate Finance Committee Ranking Member Ron Wyden, D-Ore., and six Democratic colleagues today introduced legislation to help working and middle-class families save for retirement. The Encouraging Americans to Save Act is cosponsored by Senators Michael F. Bennet, D-Colo., Bob Casey, D-Pa., Dick Durbin, D-Ill., Amy Klobuchar, D-Minn., Bob Menendez, D-N.J., and Patty Murray, D-Wash. According […]
Wyden Applauds IRS Efforts On Child Tax Credit, Urges Improvements To Portal For Low-Income Families
WASHINGTON –Senate Finance Committee Ranking Member Ron Wyden, D-Ore., today applauded the IRS’ efforts in sending $15 billion in advanced Child Tax Credit (CTC) payments to the families of nearly 60 million American children, and urged the agency to prioritize improvements in administration that will ensure the most underserved communities can easily and efficiently take advantage […]
Wyden Statement on Congressional Budget Office Budget and Economic Outlook Report
Senate Finance Committee Chair Ron Wyden, D-Ore., today released the following statement on the Congressional Budget Office Budget and Economic Outlook Report: “The CBO’s report underscores that Democrats’ economic agenda is working for the American people and fueling the growth we need to fully recover from this crisis. After funding for health care and education, […]