Skip to main content

Sign up for our newsletter.

Quality journalism. Progressive values. Direct to your inbox.

For Immediate Release

Contact

Press Release

Patriotic Millionaires Celebrate House Passage of Inflation Reduction Act

"Today's vote in the House is the biggest win for tax fairness we’ve seen in decades"
WASHINGTON -

Today, the House voted to pass one of the most significant climate, healthcare, and tax reform packages this country has seen in decades, the Inflation Reduction Act of 2022 (IRA). This legislation marks the most significant changes to the federal tax code since the Tax Cuts and Jobs Act (TCJA) of 2017.

In response, Morris Pearl, the Chair of the Patriotic Millionaires and a former managing director at BlackRock, Inc., released the following statement:

"Today's vote in the House is the biggest win for tax fairness we’ve seen in decades: its provisions for tax increases on billion dollar corporations and increased enforcement against wealthy tax cheats are a significant step towards achieving economic equality.

While this bill establishes desperately-needed changes to our tax laws and IRS funding, it is still a far cry from the systemic changes that we need in our society to rectify the hold the rich still have on every level of our economy. We need to take care that we don't let ourselves become complacent: this is a step forward, but only one step in a long journey. We should use this win as an opportunity to revitalize the fight for economic justice and equality, and continue demanding more."

###

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.

'Who Voted for This?': Campaigners Disrupt Truss Speech Over Fracking Ban 'U-Turn'

"Nobody voted for fracking, nobody voted to cut benefits, nobody voted to trash nature, nobody voted to scrap workers' rights," said one Greenpeace organizer.

Julia Conley ·


Khanna Tells Biden to Cut Off Weapons to Saudis as OPEC Agrees to Slash Oil Supply

"President Biden should make it clear that we will stop supplying the Saudis with weapons and air parts if they fleece the American people and strengthen Putin by making drastic production cuts."

Jake Johnson ·


'Absolutely Shameful': Michigan Judge Drops Flint Water Crisis Charges Against 7 Officials

"This means there are currently no criminal charges over 8 years later," lamented one journalist.

Jake Johnson ·


Trump Turns to SCOTUS Over Mar-a-Lago Docs, But 'It Won't Stop DOJ'

"This is a very specific and narrow request by Trump the merits of which turn on a technical jurisdictional question, but which runs into fatal procedural obstacles long before that," said one analyst. "It's not laughable, but only because it's small."

Jessica Corbett ·


Despite Calls for Diplomacy to End War, US Confirms More Weapons Headed to Ukraine

"Are there still negotiation possibilities?" asked Noam Chomsky. "There's only one way to find out. That's to try. If you refuse to try, of course, there's no option, no possibilities."

Brett Wilkins ·

Common Dreams Logo