Senator Elizabeth Warren, D-Mass., released a new report Thursday examining how three of her recent legislative proposals—including a wealth tax—will help pay for President Joe Biden's $3.5 trillion tax and economic package that's currently being debated in the House and Senate.
The new staff report, "The Big Escape: How the Ultra-Wealthy Avoid Paying Taxes and How to Fix It," analyzes the effects of Warren's legislation on nearly two dozen of the wealthiest Americans and richest corporations.
"It finds that simply by making these individuals and corporations pay their fair share, Congress could fund programs for healthcare, housing, childcare, and more in the infrastructure package presently being negotiated by House and Senate leaders," the report states.
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Melanie Waddell
Melanie is senior editor and Washington bureau chief of ThinkAdvisor. Her ThinkAdvisor coverage zeros in on how politics, policy, legislation and regulations affect the investment advisory space. Melanie’s coverage has been cited in various lawmakers’ reports, letters and bills, and in the Labor Department’s fiduciary rule in 2024. In 2019, Melanie received an Honorable Mention, Range of Work by a Single Author award from @Folio. Melanie joined Investment Advisor magazine as New York bureau chief in 2000. She has been a columnist since 2002. She started her career in Washington in 1994, covering financial issues at American Banker. Since 1997, Melanie has been covering investment-related issues, holding senior editorial positions at American Banker publications in both Washington and New York. Briefly, she was content chief for Internet Capital Group’s EFinancialWorld in New York and wrote freelance articles for Institutional Investor. Melanie holds a bachelor’s degree in English from Towson University. She interned at The Baltimore Sun and its suburban edition.
