Kelly, Warren, Murphy Seek Answers on Wealthy Individuals, Corporations Set to Receive Massive Tax Breaks from Republicans

“Republicans’ agenda, as their votes have repeatedly shown, is simple: billionaires win, families lose. The American people deserve to know who President Trump and Congressional Republicans truly represent.”

Senators Mark Kelly (D-AZ), a member of the Joint Economic Committee, Elizabeth Warren (D-MA), a member of the Senate Finance Committee, and Chris Murphy (D-CT), a member of the Senate Appropriations Committee, sent a letter requesting that the Joint Committee on Taxation (JCT) calculate and publish the number of wealthy individuals and billionaire corporations who might benefit from tax giveaways under Congressional Republicans’ tax plan.  

As part of the budget reconciliation process, Kelly and Senate Democrats forced Republicans to go on the record with their plans to give massive tax handouts to the wealthiest Americans and giant corporations. Democrats asked whether Republicans would oppose more tax cuts for people making over $100 million, $500 million, or even $1 billion in a single year; Republicans voted no. When asked whether Republicans would oppose additional tax cuts for corporations making over $1 billion in a single year—including corporations like Amazon, Tesla, and ExxonMobil—Republicans voted no again. Kelly offered the first amendment and spoke in support of it on the Senate floor.  

“While Republicans have claimed that these tax breaks are meant to help working people, their votes don’t lie,” wrote the lawmakers.  

The lawmakers asked the committee to share the following information by April 30, 2025:  

• The number and percentage of individual taxpayers who, in the past three tax years, made at least $10 million, $100 million, $500 million, or $1 billion each year.  
• The number and percentage of corporations who, in the past three tax years, made at least $100 million, $500 million, $1 billion, or $10 billion each year.