For Immediate Release
Tuesday, July 1, 2025
Patriotic Millionaires Denounce Senate Republicans’ Reconciliation Bill
“Senate Republicans somehow managed to outdo their House peers and achieve the impossible by making their legislation even bigger and more beautiful for the wealthy and corporations—and smaller and uglier for working people.”
WASHINGTON, DC – Following several weeks of intense negotiations, Senate Republicans voted today to pass their party’s massive tax and spending bill—the One Big Beautiful Bill Act—by a vote of 51 to 50. In response, Morris Pearl, Chair of Patriotic Millionaires and a former Managing Director at BlackRock, said:
“Make no mistake: Just like its House counterpart, the Senate reconciliation bill is only ‘big’ and ‘beautiful’ for rich people like me. Incredibly though, Senate Republicans somehow managed to outdo their House peers and achieve the impossible by making their legislation even bigger and more beautiful for the wealthy and corporations—and smaller and uglier for working people. Provisions included in the final bill—like permanent and retroactive business tax breaks, a special carve-out for large oil and gas companies, and a less generous standard deduction and Child Tax Credit—all amount to something that no American should be proud of.
From what we know, Americans are most certainly not proud of Republicans’ mega package. 59% of the country opposes the legislation; by choosing to move forward with it, Republicans are in direct opposition to the expressed interests of the American people. With the legislation now set to return to the House, we demand a clean version that will not shower massive tax breaks upon the rich, but rather bring economic relief to those who actually need it.
Voters who work for a living put Trump in the White House and Republicans in Congress with the expectation that they would help them have money for groceries after paying the rent. Should the House fail to stop this Big, Ugly Bill before it’s too late, they are bound to make life even worse for the very people who trusted them to begin with, though perhaps that was their intent all along.”
For interview requests with Morris Pearl or other members of the Patriotic Millionaires, please contact Emily McCloskey at emily@patrioticmillionaires.org.
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