WASHINGTON—U.S. Senators Chris Murphy (D-Conn.), a member of the Senate Appropriations Committee, Elizabeth Warren (D-Mass.), a member of the Senate Finance Committee, and Mark Kelly (D-Ariz.), a member of the Joint Economic 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, 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. 

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

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. 

Full text of the letter is available HERE and below.

Dear Dr. Barthold:

Last week, Congressional Republicans officially passed a budget resolution that opens the door to massive tax breaks for the wealthiest Americans and corporations. While Republicans have claimed that these tax breaks are meant to help working people, their votes don’t lie.

In the process of advancing their tax plans, Republicans have consistently chosen to make life even easier for the ultra-rich and giant corporations. When Democrats asked whether Senate 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 Democrats then asked whether Senate 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. 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. Accordingly, we ask that you provide the following information by April 30, 2025:

  1. For each of the past three tax years, the number and percentage of individual taxpayers who received annual taxable income exceeding:
    1. $10 million
    2. $100 million
    3. $500 million
    4. $1 billion
  2. For each of the past three tax years, the number and percentage of corporate taxpayers who received annual taxable income exceeding:
    1. $10 million
    2. $100 million
    3. $500 million
    4. $1 billion

Thank you for your attention to this important matter.

Sincerely,

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