More than 300 wealthy Americans have sent a letter to Democrat leaders in Congress urging them to block President Donald Trump's tax plans that they would benefit from.
They said, "No more tax cuts for the wealthy. Not in our name," reported Axios.
The letter, according to Axios, is signed by many of America's richest individuals, although only a few have allowed their names to be released publicly.
Those that have, include philanthropist and Disney heir Abigail Disney, and Second Generation founder Jeffrey Hollender.
Congress is reviewing options to deal with the U.S. income tax structure. Trump wants to see the tax cuts he initiated in 2017 remain in effect. Some members of Congress said they believe that could be done, with potential offsets impacting how states collect income taxes.
Axios reported that the letter sent to Democrat leaders is similar to another one coordinated by The Responsible Wealth Project in 2022.
That tax plea included the line, "No one likes paying more taxes, including us. But what we like even less is a tax system that underfunds our national priorities, contributes to destabilizing income and wealth gaps, and undermines the faith of the American people in their own government."
Jim Mishler ✉
Jim Mishler, a seasoned reporter, anchor and news director, has decades of experience covering crime, politics and environmental issues.
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