On the recordFebruary 20, 2025
This afternoon I was on the floor. I was privileged to attend to the remarks of the distinguished chair of the Finance Committee where he characterized the upcoming tax bill that will be before us shortly. He characterized it as principally benefiting the middle class and working class and denied that it would be especially or in any way beneficial to the superwealthy in our country. Well, I have always subscribed to Ronald Reagan's motto: Trust but verify. I am simply asking to verify what the chairman of the Finance Committee said this afternoon. My amendment would just say: no reduction in tax liability to someone making more than $500 million. There are about 400 families in America, and $500 million seems to me a number that would justify not having a tax reduction. That is all the amendment does--no tax reduction and liability for those making more than $500 million. I urge a ``yes'' vote to verify what we were told on the floor this afternoon. The PRESIDING OFFICER. The Senator from Idaho.
