Vermont Press Releases

Sanders urges White House to tax wealthy

Sanders Sets Major Speech on Budget Today

Thousands Join a Plea to President Obama for Shared Sacrifice

WASHINGTON, June 27 – In a major Senate floor speech today, Sen. Bernie Sanders (I-Vt.) will lay out his case for a deficit reduction package that relies on new revenue for at least half the reduction in red ink.

As President Obama entered budget negotiations for the first time with meetings today at the White House, Sanders urged him not to yield to demands by Republican congressional leaders to exempt taxes on the wealthiest Americans and the most profitable corporations.

“Please listen to the overwhelming majority of the American people who believe that deficit reduction must be about shared sacrifice,” Sanders wrote in a letter to the president. “The wealthiest Americans and the most profitable corporations in this country must pay their fair share.”

Sanders, a member of the Senate Budget Committee, said that at least 50 percent of any deficit reduction package must come from revenue raised by ending tax breaks for the wealthy and eliminating tax loopholes that benefit large, profitable corporations and Wall Street financial institutions.

The senator also said a sensible deficit reduction package must include significant cuts to unnecessary and wasteful Pentagon spending.

“Everyone understands that over the long-term we have got to reduce the deficit – a deficit that was caused mainly by Wall Street greed, tax breaks for the rich, two wars, and a prescription drug program written by the drug and insurance companies. It is absolutely imperative, however, that as we go forward with deficit reduction we completely reject the Republican approach that demands savage cuts in desperately-needed programs for working families, the elderly, the sick, our children and the poor, while not asking the wealthiest among us to contribute one penny.”

By late this morning, more than 6,100 people cosigned the senator’s letter to the president. It was first posted Sunday evening on Sanders’ webpage.

Under a Senate agreement, Sanders is scheduled to speak at 4 p.m. today for up to 90 minutes.

Contact: Michael Briggs (202) 224-5141 begin_of_the_skype_highlighting              (202) 224-5141      end_of_the_skype_highlighting begin_of_the_skype_highlighting              (202) 224-5141      end_of_the_skype_highlighting begin_of_the_skype_highlighting (202) 224-5141

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