FOR IMMEDIATE RELEASE: April 7, 2025
CONTACT: Emily McCloskey | [email protected]
Patriotic Millionaires Unveils New Legislative Platform “AMERICA 250: The Money Agenda”
Ahead of the country’s 250th birthday in 2026, Patriotic Millionaires unveiled today its newest legislative platform, “AMERICA 250: The Money Agenda,” that would would permanently stabilize the economic lives of working people, stimulate widespread economic growth, and ensure true prosperity for America’s next 250 years ahead.
The legislative platform was announced during “How to Beat the Broligarchs: An Expert Town Hall,” which brought together leading economists, historians, investors, good government watchdogs, and business leaders to discuss the erosion of democracy and rising authoritarianism in the United States. The Patriotic Millionaires’ plan provides an economic framework that would directly challenge forces that seek to dismantle democracy by permanently mitigating against destabilizing levels of inequality and concentrated wealth.
The legislative priorities within “AMERICA 250: The Money Agenda” include:
- The “COST OF LIVING” TAX CUT Act, which would provide a Cost of Living Exemption (COLE) on federal taxes equal to the median cost of living for a single adult with no children, and shift responsibility for those revenues from the working class to the millionaire class.
- The “COST OF LIVING” WAGE Act, which raises the federal minimum wage to the median cost of living for a single adult with no children, and protects American workers by ensuring that every full-time job pays at least enough to support a single individual.
- The EQUAL TAX Act, which equalizes tax rates for capital gains and ordinary income over $1 million, and disrupts the “buy, borrow, die” strategy used to minimize and eliminate the tax obligations of the uber-wealthy.
- The ANTI-OLIGARCH Act, which would be divided into two phases. The first phase would prevent further wealth concentration by implementing significant taxes on the intergenerational transfer of wealth, on large sums of trust-held wealth, and on the true economic income of America’s ultra-rich. The second phase would dismantle the existing American oligarchy by taxing the wealth held by the ultra-rich sufficiently.
“America’s slide into oligarchy necessitates bold actions in order to reclaim democratic capitalism and forge a prosperous, equitable, and just future. ‘AMERICA 250: The Money Agenda’ is the only plan that will get us there. It will change not just our own lives, but the future and direction of our country,” said Patriotic Millionaires Founder and President Erica Payne. “Our economy should be judged on how well it takes care of working people, not on how many billionaires it mints in a calendar day. By that measure, America is flunking its economics class. The only way to get better marks—and stop our country’s slide into oligarchy—is by fixing our tax code.”
In addition to outlining “AMERICA 250: The Money Agenda,” the Expert Town Hall explored the historic tensions between capitalism and democracy and examined how unchecked wealth has captured our political and judicial systems. Specifically, the event highlighted and traced how the global authoritarian playbook threatens to reshape our world in the face of “broligarchs” who are working to pull the strings of the government towards their interests at the expense of the American people.
“AMERICA 250 will bring to account the politicians and their enablers who are sustaining our backwards status quo and demand better leaders to put us on a better, more sustainable path,” said Patriotic Millionaires Board Chair Morris Pearl. “The time for economic exploitation is over. Through our legislative agenda, we will build a community dedicated to the common purpose of improving the lives of all working people in our country—not just the ultra-wealthy.”
Click here to read “AMERICA 250: The Money Agenda.” Click here to watch a recording of the Expert Town Hall.
For more information about “AMERICA 250: The Money Agenda” or interview requests with members of Patriotic Millionaires, please contact Emily McCloskey at [email protected].
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