Sen. Bernie Sanders (I-Vt.) and Congresswoman Ilhan Omar (MN-05), along with 16 of their colleagues in the Senate and House, today urged President Biden and Treasury Secretary Janet Yellen to support Brazil’s historic G20 initiative to establish a global minimum tax on the world’s ultrawealthy. The letter comes ahead of the G20 meetings this July during which Brazil, the current president of the G20, will reportedly push for a joint declaration on the initiative.
“We write to urge your administration to support an important initiative at the G20 to foster international cooperation on taxation of ultrawealthy individuals,” wrote the members.
“Every tax dollar not paid by a billionaire could have been used to invest in our communities, address climate change, and support public goods – from education to health care to infrastructure – that are critical to prosperity and a strong economy,” wrote the members.
The letter argues that support for the initiative from the Biden Administration would not only strengthen America’s global leadership on any number of intersecting issues, but also help the administration’s domestic efforts to achieve a fairer tax system at home – including Biden’s plan for a 25% minimum income tax on the ultrawealthy.
Sanders and Omar are joined on this letter by Sens. Elizabeth Warren (D-Mass.), Ed Markey (D-Mass.), Peter Welch (D-Vt.), and 13 members in the House. It is endorsed by a number of leading organizations and academics, including: AFL-CIO, Americans for Financial Reform, Americans for Tax Fairness, Community Change, Groundwork Collaborative, Oxfam America, Patriotic Millionaires, Public Citizen, and Take on Wall Street.
Contribute to Vermont Daily Chronicle via Stripe.com – quick, easy, confidential