Finance Committee to Consider Favorably Reporting Chief Agricultural Negotiator Nominee
WASHINGTON, D.C. – Senate Finance Committee Chair Ron Wyden, D-Ore., will convene an open executive session on Wednesday, September 7, 2022, to consider favorably reporting the nomination of Douglas J. McKalip to be Chief Agricultural Negotiator. The hearing will take place at 10:00 a.m. in Room 215 of the Dirksen Senate Office Building. Who: Senate […]
Wyden Investigation Uncovers Major Loophole In Offshore Account Reporting
Washington, D.C. – Senate Finance Committee Chair Ron Wyden, D-Ore., today released the findings of a year-long investigation into the largest alleged individual tax evasion scheme in U.S. history. The investigation uncovered the “shell bank” loophole in the Foreign Account Tax Compliance Act (FATCA), a loophole that allows banks offshore to accept funds from U.S. […]
Wyden Probes Deceptive Marketing Practices by Medicare Advantage Plans
Washington, D.C. – Senate Finance Committee Chair Ron Wyden, D-Ore., today launched an inquiry into potentially deceptive marketing tactics practiced by Medicare Advantage plans that may take advantage of seniors looking for Medicare coverage. Wyden sent letters to 15 state insurance commissioners and state health insurance assistance programs requesting data about Medicare Advantage marketing complaints […]
Wyden Launches Investigation Into Private Placement Life Insurance Schemes
Washington, D.C. – Senate Finance Committee Chair Ron Wyden, D-Ore., today launched an investigation into the growing use of private placement life insurance by the wealthiest Americans to avoid and evade taxes. Wyden began the investigation with a letter to Lombard International, a subsidiary of private equity giant Blackstone. Wyden wrote, “Lombard International (Lombard) is […]
Wyden Unveils Taxing Big Oil Profiteers Act
Washington, D.C. – Senate Finance Chair Ron Wyden, D-Ore., today unveiled the Taxing Big Oil Profiteers Act. The bill would double the tax rate of Big Oil’s excess profits, impose an excise tax on stock buybacks benefiting wealthy shareholders, and close one of Big Oil’s favorite tax loopholes. The bill is also sponsored by Senators […]
Wyden Statement on New Rhodium Group Report Showing Benefits of Clean Energy Tax Package
Washington, D.C.— Senate Finance Committee Chair Ron Wyden, D-Ore., today released the following statement on the new Rhodium Group report: “A Turning Point for US Climate Progress: Assessing the Climate and Clean Energy Provisions in the Inflation Reduction Act:” “The Rhodium Group’s new report again confirms the Inflation Reduction Act is a game changer in […]
Wyden Statement on Republican IRS Conspiracy Theories
Washington, D.C.—Senate Finance Committee Chair Ron Wyden, D-Ore., today released the following statement urging Republicans to stop pushing conspiracy theories about the IRS: “The incendiary conspiracy theories Republicans are pushing about armed IRS agents are increasingly dangerous and out-of-control. High-ranking Republicans, including the former chair of the Finance Committee, are saying shockingly irresponsible things. Given […]
Wyden Stock Buyback Legislation Passes Senate
Washington, D.C. – Legislation authored by Senate Finance Committee Chair Ron Wyden, D-Ore., to incentivize big corporations to invest in their workers rather than wealthy executives and shareholders today passed the Senate. A modified version of the Stock Buyback Accountability Act was included in the Inflation Reduction Act. The proposal would impose a 1 percent […]
Wyden Clean Energy, Prescription Drug Pricing Legislation Passes Senate
Washington, D.C. – Legislation authored by Senate Finance Committee Chair Ron Wyden, D-Ore., today passed the Senate as part of the historic Inflation Reduction Act. The linchpin of the Inflation Reduction Act’s clean energy package is Wyden’s Clean Energy for America Act, first introduced in 2015, which reforms the energy tax code to incentivize emissions […]
Wyden Statement on Republicans Stripping Insulin Provision from IRA
Senate Finance Committee Chair Ron Wyden, D-Ore., today issued a statement after Republicans voted to remove a provision from the Inflation Reduction Act that would have created a $35 monthly copay cap for insulin for Americans with private insurance: “Republicans have just gone on the record in favor of expensive insulin,” Wyden said. “After years […]