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 […]
Wyden Delivers Floor Speech in Support of the Inflation Reduction Act
The Senate is at the beginning of a long debate that’s long overdue. At its center is the Inflation Reduction Act, which goes after some of the biggest challenges facing the American people today. This bill is made up of proposals that have been in the works for many years — most of which comes […]
Wyden Statement on Parliamentarian Drug Pricing Rulings
Senate Finance Committee Chair Ron Wyden, D-Ore., today issued a statement following the Senate Parliamentarian’s rulings on the compliance of Senate Democrats’ reconciliation language related to prescription drug pricing reform: “Senate Democrats wrote our reconciliation language to comply with Senate rules, and the parliamentarian has largely agreed, especially on groundbreaking Medicare negotiation and cost protections […]
Wyden Releases New Data Showing Rock-Bottom Tax Rates Paid By Companies Subject To Minimum Tax
Washington, D.C.—Senate Finance Committee Chair Ron Wyden, D-Ore., today released new data provided by the Joint Committee on Taxation (JCT) showing the rock-bottom effective tax rates paid by hugely profitable companies that would potentially be subject to the minimum corporate tax, based on recent financial statement income and effective tax rate requirements. In 2019, between 100 to 125 corporations had financial statement income of greater […]
Wyden Statement at Finance Committee Hearing on the Urgent Need to Address Failures in the Organ Transplant System
The last place anybody wants to hear about gross mismanagement and incompetence is in the business of saving lives. That’s precisely and unfortunately what the Finance Committee meets to discuss today. This morning’s hearing is an update on an investigation Senator Grassley and I, along with Senator Cardin and Senator Young, have been conducting for […]