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ron wyden
Senate GOP Kills Bill That Would've Reversed $10 Billion Trump Corporate Tax Break
Sen. Ron Wyden called the tax giveaway "indefensible at a time when so many Americans are getting battered by inflation and barely staying afloat."
Feb 10, 2026
Nearly all US Senate Republicans on Tuesday voted to block a resolution that would have reversed a Trump administration regulatory change set to give some of the country's richest companies a $10.3 billion tax break.
The Congressional Review Act (CRA) resolution was spearheaded by Senate Finance Committee Ranking Member Ron Wyden (D-Ore.) and Angus King (I-Maine). The vote on whether to advance it was 47-51. The only Republican to vote in favor was the other Mainer, Susan Collins, who just confirmed she is running for another term, despite two strong Democratic challengers.
In a statement after the vote, Wyden tied the target of his resolution—an Internal Revenue Service guidance undermining the corporate alternative minimum tax (CAMT)—to the sweeping budget package that GOP lawmakers passed and President Donald Trump signed last summer, which also featured significant tax breaks for the rich.
"The ink is barely dry on the megabill Trump and Republicans passed to give $1 trillion in new tax breaks to giant corporations, and now his Treasury Department is throwing another $10 billion handout to the most profitable corporations in America," Wyden said.
"The pattern we're seeing is that the Trump administration gives big corporations and ultrawealthy donors whatever tax benefits they want the second they walk through the door at the Treasury Department, but that doesn't mean the Senate has to allow this giveaway to happen," he stressed. "Stuffing $10 billion into the coffers of corporations that are already raking in enormous profits is indefensible at a time when so many Americans are getting battered by inflation and barely staying afloat."
King similarly declared that "it's downright unfair to give billions in tax relief to America's most successful corporations when Maine people are struggling to afford their prescription drugs, childcare, and groceries." He described their resolution as "a commonsense step toward a fairer tax policy that prioritizes people over profits and levels the playing field."
Although the defeat was predictable, economic justice advocates lambasted Senate Republicans for killing the resolution.
Americans for Tax Fairness executive director David Kass said in a statement that "after passing historic tax giveaways for billionaires and big business through the One Big Beautiful Bill Act (OBBA), blowing up the deficit, and cutting billions from critical healthcare and nutrition programs to pay for it, Trump and his GOP allies in the Senate are taking every opportunity to ensure economic elites can avoid paying their fair share."
"This guidance would effectively circumvent Congress and create numerous opportunities for corporate tax evasion while increasing the deficit and national debt, thus creating more imbalance in a tax code that already favors the wealthy and large corporations," Kass said. "Sen. Wyden is right to lead the charge to stop this guidance—average Americans should not be forced to subsidize some of the most profitable companies on Earth."
Like the Senate, the House of Representatives is also narrowly controlled by the GOP. Matt Gardner, a senior fellow at the Institute on Taxation and Economic Policy, noted in a Tuesday blog post that "even if lawmakers of both parties had sufficient backbone to retake the legislative power that the executive branch has usurped, President Trump would veto such a bill."
"But as a matter of educating lawmakers and the public, the recently rejected measure was a success given that tax legislation (such as this resolution) up for a vote in Congress usually gets an official budget score from Congress' revenue estimators at the Joint Committee on Taxation," he wrote. "And in this case, that reveals that this unilateral corporate tax cut from the Trump administration will cost $10 billion over a decade unless it is reversed."
"The Senate's failure to ratify Wyden's resolution may be only the opening salvo for members of Congress who want to retake the power given them under the Constitution to make tax law," Gardner suggested. "The regulation in question is not the first, and surely not the last, attempt by President Trump to unilaterally cut corporate taxes."
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Resolution Aims to Undo ‘Hidden’ $10 Billion Trump Tax Giveaway to Massive Corporations
"Congress must not accept this unjustifiable, $10.3 billion giveaway," said the office of Sen. Ron Wyden, who is leading the repeal effort.
Feb 10, 2026
The Republican-controlled US Senate is expected to vote Tuesday on a Democratic resolution aimed at overturning a major tax giveaway to large corporations that the Trump administration quietly implemented last year without congressional approval.
The Congressional Review Act (CRA) resolution is led by Sen. Ron Wyden (D-Ore.), the top Democrat on the Senate Finance Committee. In a memo released ahead of Tuesday's vote, Wyden's office noted that the Trump administration's regulatory assault on the Biden-era corporate alternative minimum tax (CAMT) is expected to hand corporations and private equity firms more than $10 billion in tax breaks.
"This tax break is hidden inside new guidance, IRS Notice 2025-28," Wyden's office observed. "The notice makes changes to the rules governing how corporate giants and private equity firms can count income coming from partnerships they own, essentially giving those corporations a 'choose-your-own-tax-rate' adventure."
The CAMT, approved under the Inflation Reduction Act in an effort to combat corporate tax avoidance, requires highly profitable US companies to pay a tax of at least 15% on so-called book profits, the numbers that are reported to shareholders.
The Center on Budget and Policy Priorities, a liberal think tank, said in a statement opposing the Trump administration's weakening of the CAMT that the Trump administration's guidance "offers corporations a 'rainbow of choices' in how they calculate their share of partnership book income for minimum tax purposes, several of which deviate significantly from the statutory intent of tying corporate minimum tax liability to book income rather than taxable income."
"The weakened rules, combined with the administration’s hollowing out of IRS enforcement (which make it less likely that corporations, complex partnerships, and their owners will pay what they legally owe) mean corporations are racking up large tax cuts that weren’t enacted by Congress," the group added. "The corporate minimum tax was initially estimated to raise $222 billion over ten years, but the actual revenue will likely be far lower in part due to special giveaways already granted by the administration."
Wyden's effort to overturn the Trump administration's unilateral erosion of the CAMT—which comes on top of the massive tax cuts for corporations that congressional Republicans approved last summer—also drew support from the conservative Committee for a Responsible Federal Budget, whose president, Maya MacGuineas, said in a Tuesday statement that "we ought to be strengthening the tax base and improving tax enforcement, not opening up new loopholes that undermine the intent of the law."
"The current Congressional Review Act measure would help restore the Corporate Alternative Minimum Tax to its intended design," said MacGuineas. "It would be a small first step—a baby step really—toward beginning to get our fiscal house in order."
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'Wyden Siren' Sounds Anew as Senator's Cryptic Letter Hints at CIA Wrongdoing
"When Wyden sends a cryptic letter or asks a pointed question suggesting something concerning is happening behind the classification curtain, something concerning is absolutely happening," said one observer.
Feb 05, 2026
Sen. Ron Wyden "only talks like this when the spies do something *real* bad."
That's how journalist Spencer Ackerman reacted Thursday to a letter from the Oregon Democrat to Central Intelligence Agency Director John Ratcliffe expressing alarm over unspecified CIA activities, as observers noted Wyden's history of heads-up previews of government wrongdoing.
“I write to alert you to a classified letter I sent you earlier today, in which I express deep concerns about CIA activities,” Wyden, who is a member of the Senate Intelligence Committee, said in the letter. “Thank you for your attention to this important matter.”
Senate Intelligence Committee Vice Chair Mark Warner “shares many of the concerns expressed by Sen. Wyden in his letter, and in fact he has expressed them to... Ratcliffe himself," according to a spokesperson for the Virginia Democrat.
This is how Sen. Ron Wyden clues the public into activity that he finds extremely alarming. He does a press release about a letter he sent to the director of the CIA that basically says, 'I want to make sure you saw the classified letter I sent early today.' www.wyden.senate.gov/imo/media/do...
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— Kashmir Hill (@kashhill.bsky.social) February 4, 2026 at 1:53 PM
Wyden told HuffPost Thursday that “the reason I sent the public letter is that is all that I’m allowed to say publicly, and I’m gonna leave it at that.”
“I said what I did for a specific reason," he added. "I wrote it for a specific reason. That’s all I can say.”
Wyden has a storied history of issuing cryptic warnings about classified government or intelligence misdeeds before they are disclosed to the public, going back to the Obama administration's secret reinterpretation of the PATRIOT Act in 2011.
The senator also warned about a withheld 2015 Department of Justice legal opinion on cybersecurity, Section 702 surveillance during the first Trump administration, US Immigration and Customs Enforcement's (ICE) use of bulk administrative subpoenas to collect millions of Americans’ financial records during the Biden administration, and more.
Techdirt blog editor Mike Masnick calls it the "Wyden Siren": "The pattern repeats. Wyden asks a specific question about surveillance. The intelligence community answers a slightly different question in a way that technically isn’t lying but is designed to mislead. Wyden calls them out. Eventually, the truth comes out, and it’s always worse than people assumed."
"The track record here is essentially perfect," Masnick added. "When Wyden sends a cryptic letter or asks a pointed question suggesting something concerning is happening behind the classification curtain, something concerning is absolutely happening behind the classification curtain."
Masnick continued:
So what’s happening at the CIA that has Wyden sending a two-sentence letter that amounts to “I legally cannot tell you what’s wrong, but something is very wrong?"
We don’t know yet. That’s the whole point of classification—it keeps the public in the dark about what their government is doing in their name. But Wyden’s letter is the equivalent of a fire alarm. He’s seen something. He can’t say what. But he wants there to be a record that he raised the concern.
"Given the current administration’s approach to, well, everything, the possibilities are unfortunately vast," Masnick said. "Is it about domestic surveillance? Something about current [Office of the Director of National Intelligence] Tulsi Gabbard? International operations gone sideways? Some new interpretation of the CIA’s authorities that would make Americans’ hair stand on end if they knew about it? We’re left guessing, just like we were guessing about the PATRIOT Act’s secret interpretation back in 2011."
"But here’s what we do know: Ron Wyden has been doing this for at least 15 years," Masnick added. "And every single time, he’s been vindicated. The secret programs were real. The abuses were real. The gap between what the public thought was happening and what was actually happening was real."
"The Wyden Siren is blaring," he added. "Pay attention."
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