Nebraska For Us statement on $1 billion collected in past-due taxes from ultra-wealthy

Nebraska For Us is responding to a July 11 announcement that the IRS, thanks to the Inflation Reduction Act, collected $1 billion of back taxes from millionaires who have more than $250,000 in tax debt.

“At a time when corporate greed is increasing costs and tax policies that disproportionately support the rich are leaving working class and middle income Nebraskans behind, this announcement from the U.S. Department of Treasury and the Internal Revenue Service is welcome news.

“This enforcement against those millionaires trying to game the system when they should be paying their fair share is made possible by the Inflation Reduction Act passed nearly two years ago. In addition, the law has capped insulin costs for seniors, allows Medicare to negotiate prices of lifesaving drugs, and lowers costs for working families.

“While Congressman Don Bacon tries to take credit for the Inflation Reduction Act’s insulin cap provision despite voting against it, he has publicly railed against other aspects of the law, including the funding for IRS enforcement targeted at millionaire tax cheats that made today’s announcement possible. This progress comes in spite of multiple votes by Bacon and his House Republican colleagues to take away this funding. We encourage him to stop voting to protect wealthy tax cheats and do more to support working class and middle income Nebraskans.”

-State Director Angie Lauritsen.