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March 26, 2021

Senate Budget Committee examines what Sanders calls 'Rigged Tax Code' for corporations and wealthy individuals

Sanders also introduces bills that would raise estate tax, increase corporate rate to 35%, eliminate tax provisions that he says encourage booking profits offshore

The Senate Budget Committee held a hearing on March 25, on "Ending a Rigged Tax Code: The Need To Make the Wealthiest People and Largest Corporations Pay their Fair Share of Taxes." The witnesses were:

  • Abigail E. Disney, CEO and Co-Founder, Fork Films
  • Gabriel Zucman, Associate Professor of Economics University of California, Berkeley
  • Amy Hanauer, Executive Director, Institute on Taxation and Economic Policy
  • Maya MacGuineas, President, Committee for a Responsible Federal Budget
  • Scott A. Hodge, President, Tax Foundation

Testimony from the hearing is available here.

Additional information is available in the attached Tax Alert, along with summaries of the two tax bills that Chairman Bernie Sanders (I-VT) introduced on March 25: (i) "For the 99.5% Act" and (ii) "Corporate Tax Dodging Prevention Act." A press release on the two bills is also available here.


Contact Information
For additional information concerning this Alert, please contact:
Washington Council Ernst & Young
   • Any member of the group, at (202) 293-7474 or


Senate budget, tax code hearing

Corporate Tax Dodging Prevention Act

For the 99.5% Act