Wyden Releases Proposal to Close Private Placement Life Insurance Tax Shelter Used by the Ultra-Rich
Washington, D.C. – Senate Finance Committee Chair Ron Wyden, D-Ore., released draft legislation today to close a tax loophole that allows the ultra-rich to shelter tens of billions of dollars in income from taxes through the use of private placement life insurance (PPLI) contracts. PPLI policies are related in name only to the typical life […]
Wyden, Warren Question TD Bank on Money Laundering Scheme Involving Chinese Fentanyl Trafficking
Washington, D.C. – Senate Finance Committee Chair Ron Wyden, D-Ore., and Senator Elizabeth Warren, D-Mass., sent a letter on Monday to TD Bank Group President Bharat Masrani seeking information related to the bank’s involvement in a criminal conspiracy involving a scheme to launder nearly $500 million from the sale of illicit fentanyl trafficked by Chinese […]
Wyden Statement on Trump’s Social Security Commissioner Nomination
Washington, D.C. – Senate Finance Committee Chair Ron Wyden, D-Ore., today issued a statement on Donald Trump’s announcement that he would nominate Frank Bisignano to be the commissioner of the Social Security Administration (SSA): “Millions of Americans count on Social Security to deliver defined benefits they earned by paying into the program out of every […]
Wyden, Shaheen, Schumer Release CBO Findings Detailing Impact on Americans’ Health Insurance Should Enhanced Premium Tax Credits Expire in 2025
Washington, D.C. – Senate Finance Committee Chair Ron Wyden, D-Ore., Senator Jeanne Shaheen, D-N.H., and Senate Majority Leader Chuck Schumersecured new data from the U.S. Congressional Budget Office (CBO) detailing the impact on Americans’ health insurance should the Affordable Care Act’s (ACA) enhanced premium tax credits (PTCs) expire at the end of 2025. If Congress […]
Wyden Urges Committee Support for TIGTA Nominee
The Finance Committee meets this morning to vote on the nomination of David Johnson to serve as Inspector General for Tax Administration. First, on Mr. Johnson’s background. This is a non-partisan, down-the-middle nominee for a position that requires exactly that type of individual. Mr. Johnson currently serves as the Assistant Inspector General for Investigations at […]
Wyden Statement on Trump Nominating Billy Long for IRS Commissioner
Washington, D.C. — Senate Finance Committee Chair Ron Wyden, D-Ore., today issued the following statement on Donald Trump’s announcement that he would nominate former Congressman Billy Long to lead the IRS: “Let’s understand why this nomination ought to set off alarm bells. This is not a typical nomination like you’d see after every presidential election. […]
Wyden Statement on CBO Finding Republican Tax Plan would Shrink U.S. Economy
Washington, D.C. — Senate Finance Committee Chair Ron Wyden, D-Ore., today issued the following statement on the new finding from the Congressional Budget Office that extending the 2017 Trump tax law, the top priority for Republicans in the next Congress, would shrink the U.S. economy: “The last time Republicans spent this much money for no […]
Wyden Statement on Nomination of Jamieson Greer for U.S. Trade Representative
Washington, D.C. – Senate Finance Committee Chair Ron Wyden, D-Ore., released the following statement today on the announcement that Jamieson Greer will be nominated to serve as U.S. Trade Representative: “Donald Trump has promised to fund tax cuts for the rich with massive tariff price hikes on the products that regular families buy every day. […]
Wyden Statement on Proposed Rule to Improve Medicare Advantage and Part D
Washington, D.C. – Senate Finance Committee Chair Ron Wyden, D-Ore., today issued a statement after the Biden-Harris administration announced a proposed rule for Medicare Advantage and Medicare Part D: “Today’s announcement marks an important step to update and strengthen the Medicare guarantee for Americans,” Wyden said. “In Medicare Advantage, there are a number of promising […]
Wyden Statement on Bessent Nomination for Treasury Secretary
Washington, D.C. — Senate Finance Committee Chair Ron Wyden, D-Ore., today issued the following statement on the nomination of hedge fund manager Scott Bessent to serve as Treasury secretary under Donald Trump: “Donald Trump pretends to be an economic populist, but it wouldn’t be a Trump Treasury Department without a rich political donor running the […]