John,

This tax season, we need to tax the rich.

Wealth inequality is at staggering levels: The 10 richest men on earth have six times more wealth than the poorest 3.1 billion people. And in the U.S., two-thirds of likely voters, including a majority of Republicans, agree that billionaires should pay more in taxes.

Most people in the U.S. live paycheck to paycheck -- and pay taxes on each of those paychecks. But in multiple years U.S. billionaires such as Jeff Bezos, Elon Musk, and Michael Bloomberg paid zero federal income taxes. This is because our current tax code essentially allows billionaires to avoid paying taxes for years on the source of their wealth: the increasing value of their stock and other assets.

In his 2023 federal budget, President Biden has proposed a Billionaire Minimum Income Tax, which was introduced last year in the House of Representatives.

This plan would place a 20% tax on the annual wealth gains of the top 0.01 percent of U.S. households, including people worth $100 million or more. It would raise at least $360 billion over 10 years, which we could use to directly invest in working class communities.

Please sign now: Demand Congress pass the Billionaire Minimum Income Tax.

Thank you for fighting for a true democracy that works for all of us, not just the wealthy few.

I’m carrying on this fight in Congress, including on the Financial Services Committee, where I’m holding Big Banks, Wall Street, and billionaire bullies accountable.

In solidarity,

Rashida