On the recordJune 28, 2025
President Trump's so-called Big Beautiful Bill, now on the floor of the Senate, is the most dangerous piece of legislation in the modern history of our country. It is a gift to the billionaire class, while causing massive pain to low-income and working-class Americans. Actually, though, I am wrong. This is not a gift to the billionaire class. They paid for it. This bill is an absolute reflection of a corrupt campaign finance system which allows billionaires to buy elections. And when billionaires spend hundreds and hundreds of millions of dollars trying to elect a President or a Senator or a Member of Congress, they are not making that investment just for the fun of it; they want something in return. And this legislation--big time--is what they are getting in return. So what is in this bill that they invested in? Well, if you are in the top 1 percent, you and the class you represent will receive a $975 billion tax break--$975 billion tax break, at a time when the richest people in this country have never, ever had it so good. Further--this is really quite unbelievable--if you are among the wealthiest two-tenths of 1 percent--I am not talking about 1 percent; I am talking about the top two-tenths of 1 percent--you will be able to pay zero taxes on your $30 million inheritance. So all of you folks out there who are waiting to inherit at least $30 million, today is a good day for you.
Source
govinfo.gov




