Senate Finance Committee Chair Ron Wyden, D-Ore., today released the following statement on the Joint Committee on Taxation’s preliminary revenue estimate for the Billionaires Income Tax:
“Preliminary estimates from the Joint Committee on Taxation show that the Billionaires Income Tax would raise $557 billion in revenue over 10 years. This makes crystal clear the extent to which the tax code is simply not equipped to tax billionaires fairly, or ensure they pay any taxes at all.
“Working Americans like nurses and firefighters are rightly disgusted by the status quo. If we don’t fix this problem now, it’s only going to get worse, with billions in income from the wealthiest people on the planet continuing to go completely untaxed.”
The revenue table follows (numbers in billions of dollars):
| 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | 2031 | 2022-2026 | 2022-2031 |
| 7.4 | 69.8 | 87.4 | 89.6 | 92.1 | 87.2 | 24.2 | 28.2 | 33.2 | 38.3 | 346.2 | 557.2 |
A web version of this release is here.