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Press Release

Bi-Partisan Infrastructure Deal Is a Bad Deal for Working Americans

"If the choice is between a good deal and a bipartisan deal, Democratic Senators must choose the good deal.”
WASHINGTON -

Today, 21 Senate Democrats and Republicans endorsed a $1 trillion infrastructure bill that would not raise taxes on corporations or wealthy individuals. In response Morris Pearl, former managing director at Blackrock, Inc., and Chair of the Patriotic Millionaires, issued the following statement in response:

“This bipartisan proposal is a bad deal for working-class Americans. It seems like the Senators who put this deal together are more interested in having less Infrastructure investment in order to justify  keeping in place a rigged tax code that favors corporations and the rich rather than actually coming up with a plan that solves the enormous challenges that our country faces. The proposals instead would raise money to pay for infrastructure by implementing an electric vehicle tax,  selling off large portions of our infrastructure to private companies, and using unspent COVID-19 relief funds to pay for revamping transportation, broadband and water infrastructure.

If the choice is between a good deal and a bipartisan deal, Democratic Senators must choose the good deal. They must prioritize doing what the American people are asking for, which is to raise taxes on the rich and corporations. Two-thirds of  voters support raising taxes on corporations to pay for President Biden's infrastructure investment.

The American people are not asking their elected representatives to pay for critical investment in our country by passing the bill down to working class families or redistributing COVID funds. They want the wealthy and corporations to finally pay their fair share like normal Americans have for decades.  We strongly urge Democratic Senators to deliver on their promise to the American people and raise taxes on corporations and the rich to pay for any infrastructure deal.”

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The Patriotic Millionaires is a group of high-net worth Americans who share a profound concern about the destabilizing level of inequality in America. Our work centers on the two things that matter most in a capitalist democracy: power and money. Our goal is to ensure that the country’s political economy is structured to meet the needs of regular Americans, rather than just millionaires. We focus on three “first” principles: a highly progressive tax system, a livable minimum wage, and equal political representation for all citizens.

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