According to sources close to the idea of a billionaires’ tax plan, Nancy Pelosi had privately criticized the entire plot- considering it a PR stunt. This was done in a call made to other Democratic lawmakers back in October. Sen. Ron Wyden of Oregon, who serves as the chair of the Senate Finance Committee, had brought out a plan the previous month to hit billionaires like Elon Musk- the CEO of Tesla with a new tax which would be accrued on their growing pile of wealth.
After a few hours of debate, the measure faced major resistance from Senator Joe Manchin of West Virginia, one of the more conservative Democrats who looked towards it as punitive towards corporate leaders and major businesses.
Nancy Pelosi Criticized The Billionaire Tax Plan
Several Democratic senators along with Nancy Pelosi have been moving pretty cautiously around this concept of taxing the billionaires, something Wyden has been working towards the last couple of years. Yet, the party has not been in support of the idea of Wyden after it faced strict opposition from Sen. Kyrsten Sinema of Arizona to increase income and corporate tax rates which forced them to bench their other plans of increasing revenue in order to pay for more affordable childcare.
The Washington Post has been quick to report that Nancy Pelosi was quite sour with the entire legislation of Ron Wyden regarding the Billionaire tax plan. A major aide of the Democrat who has been quite familiar with the entire scenario has stated that the House Speaker went on to criticize the plan on a call as it lacked the legislative text while the White House raced towards finalizing the negotiations on their social spending bill.
The lawmaker from California was also pretty worried whether the bill would find acceptance from all 50 Senate Democrats- and then withstand a challenge from the SC.
Nancy Pelosi’s abstinence from the tax plan comes out as Wyden mentioned that this would be a package that is supposed to be all about giving everybody a shot to get ahead.