Sen. Elizabeth Warren, D-Mass., is urging her fellow Democrats to take a tough stance on tax policy as lawmakers prepare for the expiration of part of the Trump-era tax cuts after 2025. Speaking at the Washington Center for Equitable Growth, Warren is expected to emphasize the need for tax reforms that target corporations and wealthy individuals.
She will argue that corporations must pay higher taxes, while billionaires should face higher tax rates than middle-class families. Warren will also call for increased enforcement to crack down on wealthy tax cheats, ensuring that the IRS has adequate resources to enforce the law. She will emphasize that any compromise on tax policy should not come at the expense of crucial social programs and infrastructure funding.
Warren is reportedly critical of the bipartisan tax framework being negotiated by Sen. Ron Wyden, D-Ore., chairman of the Senate Finance Committee, and House Ways and Means Committee Chair Jason Smith, R-Mo. She claims that Republicans are intentionally aiming for larger tax cuts for the wealthy in the future, believing they can push through their agenda without sufficient Democratic resistance. Warren is expected to accuse her own party of lacking the spine to stand firm against Republican demands.
Warren’s call for Democrats to dig in their heels on tax priorities comes as the Senate Finance Committee’s Democrats are reportedly scheduled to meet this week to plan for 2025. President Biden, who is seeking re-election, has indicated that he intends to let the Trump-era tax cuts expire while raising taxes on corporations and wealthy individuals. Warren’s office did not respond to Fox News Digital’s request for comment.
