John,
The American Rescue Plan passed the Senate 50-49, with Senator Joe Manchin (D-WV) proving to be the decisive vote.
Manchin is relishing his newly realized power as a swing vote in the evenly divided Senate. And, as chair of the Senate Energy Committee, he’ll play a critical role in advancing President Biden’s climate crisis agenda.
In a recent interview on “Axios on HBO,” Manchin indicated that he’s open to big and bold infrastructure and climate bills ― if they’re 100% paid for. And, he’s willing to raise taxes on the rich and corporations to do it![1]
Joe Biden’s soon to be released Build Back Better plan ― which is expected to be a bold plan to fund infrastructure, clean energy, healthcare, education and more ― is expected to cost up to $4 trillion over 10 years. And if Manchin wants it paid for, a great place to start is Senator Elizabeth Warren’s wealth tax. It will assess a wealth tax on only the richest 0.05% of households and generate at least $3 trillion in revenue over 10 years.
We’re growing support for Senator Warren’s recently introduced wealth tax. Already more than 52,000 people have signed on as grassroots co-sponsors of this bill. Can you help us get to 100,000 signers?
Donate today to build support for the wealth tax to pay for all or most of President Biden’s forthcoming Build Back Better plan, which is critical to creating millions of good paying jobs, rebuilding our community’s and investing in our country’s future.
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In addition to the wealth tax, which only impacts households worth $50 million or more, Manchin indicated that he’s open to increasing the corporate tax rate and repealing “a lot” of the Trump tax cuts for the rich.
In the midst of a pandemic recession that has seen billionaire wealth grow by 44% ― according to ATF’s groundbreaking analysis[2] ― and that’s seen tens of millions of working and middle class families bear the brunt of the economic pain and suffering, it’s critical that we invest in our future, paid for by increasing taxes on the rich and corporations.
This is our moment to end a rigged tax system and economy, make the wealthy pay their fair share, and invest in people, families and communities to pull us out of this pandemic recession.
Donate today to fight for Elizabeth Warren’s wealth tax on the richest 0.05% and to make sure big corporations are paying their fair share in taxes.
Thank you for all that you do for the future of our country.
Frank Clemente
Executive Director
Americans for Tax Fairness Action Fund
