Sens. Sanders, Warren set to give billionaires free pass after years of knocking tax loopholes for wealthy

Sens. Sanders, Warren set to give billionaires free pass after years of knocking tax loopholes for wealthy

Sens. Sanders, Warren set to give billionaires free pass after years of knocking tax loopholes for wealthy
Aug 06, 2022 1 min, 24 secs

Elizabeth Warren, who have a history of knocking financial "loopholes" used by wealthy individuals and corporations, are set to vote on the Inflation Reduction Act after the measure's carried interest tax provision that targeted billionaires was removed.

Joe Manchin and Senate Majority Leader Chuck Schumer, the pair of progressive senators have repeatedly criticized tax loopholes over the years that are used by wealthy Americans, including the carried interest loophole.

In 2015, Sanders and Warren, along with six others, originally co-sponsored the Carried Interest Fairness Act, a measure introduced in the Senate that would have closed the carried interest loophole.

Elizabeth Warren, D-Mass., and Bernie Sanders, I-Vt., have a history of knocking loopholes used by the wealthy, including the carried interest loophole.

Last September, amid ongoing negotiations regarding the budget reconciliation bill, Sanders claimed the measure would "end the days of tax loopholes and evasions" that are used by billionaires.

We will finally end the days of tax loopholes and evasions by the billionaire class of this country," Sanders wrote in a tweet. "Yes, they will finally pay their fair share of taxes.".

Just prior to announcing his second presidential bid in 2019, Sanders addressed the "rigged tax code" in America and took aim at wealthy Americans who he insisted have dodged adequate tax percentages.

In a 2018 tweet, Sanders took aim at former President Donald Trump, claiming that he failed to live up to a campaign promise to tackle the "egregious carried interest loophole," and that his "disgraceful tax bill did nothing to address it."

Echoing several of the viewpoints held by Sanders, Warren has made a name for herself when it comes to calling out wealthy Americans like Elon Musk and corporations like Amazon

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