I believe that the greatest issue that we face in this country is the extreme concentration of wealth and power at the very top. It is unprecedented and dangerous. At the end of 2024, the 65 million Americans with the least amount of wealth had about $4 trillion in wealth combined. The 905 billionaires at the end of 2024 had nearly $8 trillion in wealth. So put another way, 900 people have nearly twice as much wealth as 65 million Americans. Mr. Speaker, 900 people is the size of a small high school. Mr. Speaker, 65 million is almost the population of the entire Midwest. And $8 trillion is double, double what every American owes in student loans, car loans, credit cards, and nearly every other type of debt combined, meaning that these 905 billionaires could pay for everyone's debt in the United States and still be superrich. Now, this may have gotten worse in 2025 in large part because of the One Big Beautiful Bill Act that spent trillions and trillions of dollars on tax cuts for the superwealthy at the expense of millions and millions of Americans and that cut over a trillion dollars in healthcare. Fifteen million Americans are going to lose their healthcare to pay for tax cuts for the superwealthy.
Editor's note · Context
Addressing the concentration of wealth and its impact on Americans during a floor speech.
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