Bernie Sanders told Newsweek that it would be 'absurd' for tax increases on the wealthy and largest corporations to not be a part of debt limit negotiations.
and set to largely expire in 2025, would raise the nearly $32 trillion national debt by an additional $3.5 trillion.Finance Committee responsible for tax law, toldthat debt limit negotiations should look at addressing means through which the wealthy and corporations avoid paying taxes.
The Oregon Democrat pointed specifically to comments made during a Wednesday Budget Committee where former Treasury Department Deputy Assistant Secretary for Economic Policy Bruce Bartlett told lawmakers that a key problem with raising tax revenue is"enforcement" and that providing resources to the IRS supports efforts to generate revenues that can offset the national debt. Democratic Senator Sherrod Brown of Ohio echoed Wyden's and Sanders' calls.
"We should eliminate the giveaways to corporate America that they insisted on and passed five years ago," Brown told."Republicans, they're always looking out to give rich people tax cuts—That's who they are." Senators Ron Wyden and Sherrod Brown are pictured at the U.S. Capitol on January 15, 2020, in Washington, D.C. Both emphasized that revenue increases should be a part of conversations around lowering the national debt.The 2017 tax permanently cut the federal corporate income tax rate from 35 percent to 21 percent and lowered individual income tax rates through 2025, according
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