Making the ultra-wealthy pay their fair share.

It’s simple – if you have to pay your taxes, so should the ultra-wealthy.
 
It’s tax season, and no better time to reinforce calls to make our tax system more equitable for all. Democrats passed the Inflation Reduction Act last Congress, and it’s already saving Americans money – including capping the price of insulin at $35 per month and helping folks save money on their monthly energy bill.

But another key piece to the Inflation Reduction Act is ensuring the wealthiest of Americans can’t game the system and pay less in taxes than everyday Americans. The good news? It’s working! 

We recently reached a milestone – since the passage of this monumental legislation, the IRS has collected over $500 million in unpaid taxes from 1,600 millionaires.

We’re doing that by strengthening enforcement against wealthy tax cheats -- in other words, holding millionaires and billionaires accountable to the laws the rest of us must obey. Over the next decade, these investments will enable the IRS to collect at least $150 BILLION in taxes already owed by the wealthiest Americans and big corporations. This recovered revenue helps fund critical programs working families need – from health care, to education and clean water for our communities.

To create a strong, vibrant economy that works for everyone, we must make sure no one cheats or gets preferential treatment. The Inflation Reduction Act also requires large corporations to pay a 15 percent minimum tax on their profits. Corporations rely on public resources and countless hardworking men and women to build their profits, and it’s important they pay their fair share. 

It's not right for the ultra-wealthy to game the system at the expense of normal, everyday Americans. I’ll keep fighting to fix our tax system so it works for everyone. 

 
Tackling Overdraft Fees:  

Our Democratic agenda in Congress, under President Biden’s leadership, is designed to grow our economy and make it more equitable. Last week, the Biden administration took a huge step forward by proposing a rule that would end excessive overdraft banking fees. 

If you’ve ever been hit with an overdraft fee, you know it can make it even harder to make ends meet. Excessive overdraft fees – sometimes $30 or more – hit those who are struggling the most, all while banks pad their bottom lines. $30 may not be a lot to the ultra-wealthy and big banks pulling record profits, but to a student trying to pay for meals or a mom trying to buy their child a winter coat, it makes a huge difference. Companies shouldn’t be able to rip off hardworking Americans simply because they can. 

This proposal would cut the average overdraft fee by more than half, saving the typical American family that pays these fees $150 a year. Even more than that, it shows we are standing up to the interests of unscrupulous corporations and the ultra-wealthy and standing with you – the hardworking men and women who make our country so great.

Attention Small Businesses:  

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has begun accepting beneficial ownership information reports. The bipartisan Corporate Transparency Act, enacted in 2021 to curb illicit finance, requires many companies doing business in the United States to report information about the individuals who ultimately own or control them. FinCEN is committed to providing America’s small businesses with the resources and information they need to make filing as quick and easy as possible. 
 
You can find more information here or contact my office.  

Success Story of the Week:

“I cannot begin to thank you enough for the work your office did in resolving both issues with the IRS. Your professionalism, prompt attention, and timely communication has been superb. It has brought much peace of mind knowing these issues are now behind me. It is a great comfort to know that those whom we elect to serve actually do so when it is needed.”

–Indianapolis resident
 
Did you know that in 2023, my office responded to over 70,000 of your messages and brought $1.5 MILLION directly back to Indianapolis families? Team Carson is here to serve you – get in touch to find out how we can help you navigate a federal agency, access government benefits, or recognize a community member’s milestone. 

Honoring Hoosier Women Veterans 

Far too often Hoosier women veterans are overlooked, underrepresented, and do not always receive the support and recognition they deserve - even within veteran communities. That’s why I’m honored to start a new initiative recognizing outstanding Hoosier women veterans who have gone above and beyond for our nation and community. 

Do you know a Hoosier female veteran who deserves to be recognized? Let me know by filling out this form! 
 

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Your Friend,

André