Washington, D.C.—Today, Senator Whitehouse (D-RI), Chairman of the Senate Budget Committee, and fellow Committee members Senators Wyden (D-OR) and Sanders (I-VT) launched an investigation into how the U.S. insurance industry evaluates climate-related risks, decides to invest in or underwrite fossil fuel expansion projects that drive such risks, and prices policies that insure such projects. In letters sent to AIG, […]
Ranking Member Grassley, members of the committee, witnesses, and guests, welcome to our thirteenth committee hearing. Today, we return to our series on the economic toll of a changing climate, this time with a bipartisan hearing with witnesses both sides agreed to. We will hear from farmers on the front line about climate risks to the […]
Washington, D.C.—According to preliminary estimates by the nonpartisan Congressional Budget Office (CBO) provided to Senator Whitehouse (D-RI), Chairman of the Senate Budget Committee, Republicans’ $21.4 billion in cuts to the Internal Revenue Service will result in $40.4 billion in lost revenue, thus increasing the deficit by $19 billion. The IRS cuts analyzed by CBO include the $1.4 billion in clawbacks that are part of the so-called “Fiscal Responsibility Act” and the additional $20 […]
Washington, D.C.—U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, delivered the following opening statement at today’s hearing, “The Rich Get Richer, Deficits Get Bigger: How Tax Cuts for the Wealthy and Corporations Drive the National Debt,” which highlighted how tax cuts for the wealthy and big corporations have been the largest driver of deficits over […]
Washington, D.C.—According to a report released today by the nonpartisan Congressional Budget Office (CBO), extending the Trump tax cuts would add $3.5 trillion to the deficit through 2033. Written at the urging of Senator Whitehouse (D-RI), Chairman of the Senate Budget Committee, and Senator Wyden (D-OR), Chairman of the Senate Finance Committee, the new report finds the Republicans’ policy […]
Washington, D.C.—U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, delivered the following opening statement at today’s hearing entitled, “Lessons Learned: Leadership Perspectives and Experience on the National Costs of Climate Change.” Chairman Whitehouse’s remarks, as prepared for delivery: Ranking member Grassley, members of the Committee, distinguished witnesses, guests: welcome to the Budget Committee’s eighth hearing examining […]
Washington, D.C.—U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, delivered the following opening statement at today’s hearing entitled, “The Default on America Act: Blackmail, Brinkmanship, and Billionaire Backroom Deals.” Chairman Whitehouse’s remarks, as prepared for delivery: Ranking Member Grassley, members of the committee, distinguished witnesses, and guests: This morning, we are here to examine Kevin McCarthy’s […]
Washington, D.C.—U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, delivered the following opening statement at today’s hearing entitled, “Who Pays the Price: The Real Cost of Fossil Fuels.” Chairman Whitehouse’s remarks, as prepared for delivery: Ranking Member Grassley, colleagues, welcome to our seventh Committee hearing on the economic and budgetary perils of dependence on fossil fuels. We have heard testimony from non-partisan, […]
Washington, D.C.—Today, Senator Sheldon Whitehouse (D-R.I.), Chairman of the Senate Budget Committee, issued the following statement after the Treasury Department announced its “best estimate” that the government will be unable to pay all its obligations as early as June 1 if the debt limit is not raised. The Congressional Budget Office similarly now projects “a significantly greater risk that […]
Washington, D.C.—U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, delivered the following opening statement at today’s hearing entitled, “Under the Weather: Diagnosing the Health Costs of Climate Change.” Chairman Whitehouse’s remarks, as prepared for delivery: Ranking Member Grassley, members of the committee, witnesses, and guests, welcome to our seventh committee hearing. Today, we will continue our […]
WASHINGTON, D.C.—Today, Senator Sheldon Whitehouse (D-R.I.), Chairman of the Senate Budget Committee, issued the following statement after the release of Speaker McCarthy’s debt limit plan. “This disaster of a plan is a nonstarter. By eliminating clean energy tax credits and investments, House Republicans are rolling back our progress on the climate crisis and putting their […]
WASHINGTON, D.C.—Multiple reports shine a new light on Credit Suisse’s historical servicing of Nazi clients and Nazi-linked accounts, which in some cases continued until as recently as 2020. The reports, released by the Senate Budget Committee on Holocaust Remembrance Day, detail a multi-year internal investigation by a forensic research firm retained by Credit Suisse and initially […]
WASHINGTON, D.C.—Multiple reports shine a new light on Credit Suisse’s historical servicing of Nazi clients and Nazi-linked accounts, which in some cases continued until as recently as 2020. The reports, released by the Senate Budget Committee on Holocaust Remembrance Day, detail a multi-year internal investigation by a forensic research firm retained by Credit Suisse and initially […]
Washington, D.C.—U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, delivered the following opening statement at today’s hearing entitled, “A Rigged System: The Cost of Tax Dodging by the Wealthy and Big Corporations.” Chairman Whitehouse’s remarks, as prepared for delivery: There are two sides to the budget: spending and revenues. While some colleagues only want to look […]
Washington, D.C.—Today, Senator Whitehouse (D-RI), Chairman of the Senate Budget Committee, issued the following statement after the IRS unveiled its $80 billion multiyear spending plan to ensure big corporations and wealthy tax dodgers pay what they owe, improve customer service for everyday taxpayers, and close the tax gap. “The IRS, starved for resources, has long […]
Washington, D.C.—U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, delivered the following opening statement at today’s hearing entitled, “Left Holding the Bag: The Cost of Oil Dependence in a Low-Carbon World.” Chairman Whitehouse’s remarks, as prepared for delivery: Ranking Member Grassley, colleagues, welcome to the fifth Committee hearing in our series on the economic and budgetary […]
Washington, D.C.—U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, delivered the following opening statement at today’s hearing entitled, “Risky Business: How Climate Change is Changing Insurance Markets.” Chairman Whitehouse’s remarks, as prepared for delivery: We are here today for the fourth Committee hearing examining the budgetary perils associated with climate change. Today, we focus on the […]
Washington, D.C.—U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, delivered the following opening statement at today’s hearing entitled, “The President’s Fiscal Year 2024 Budget Proposal.” Chairman Whitehouse’s remarks, as prepared for delivery: Ranking Member Grassley, members of the Committee: Welcome. And a special welcome to our witness as well, Director Young, who I know has […]
Washington, D.C.—A new analysis from the nonpartisan Congressional Budget Office (CBO) torpedoes House Republicans’ promise to balance the federal budget while also making permanent the Trump tax cuts. In response to a request from Senator Whitehouse (D-RI), Chairman of the Senate Budget Committee, and Senator Wyden (D-OR), Chairman of the Senate Finance Committee, CBO examined […]
Washington, D.C.— Senator Whitehouse (D-RI), Chair of the Senate Budget Committee, joined Senate Majority Leader Schumer (D-NY); Senator Murray (D-WA), Chairwoman of the Senate Appropriations Committee; Senator Wyden (D-OR), Chairman of the Senate Finance Committee; and Senator Van Hollen (D-MD) to discuss the President’s 2024 Budget Request. “As of today, our cards are on the […]
Washington, D.C.— Senator Whitehouse (D-RI), Chair of the U.S. Senate Budget Committee, joined Senate Majority Leader Schumer (D-NY) and Senate Appropriations Committee Chairwoman Murray (D-WA) to discuss the president’s budget request, which will be released Thursday, March 9, at noon. VIDEO: Senator Whitehouse discusses president’s budget, how Republicans are only here for the well-off […]
Washington, D.C.—U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, delivered the following opening statement at today’s hearing entitled, “A Burning Issue: The Economic Costs of Wildfires.” Chairman Whitehouse’s remarks, as prepared for delivery: Ranking Member Grassley, members of the committee, welcome. Last week, we examined the economic and budget consequences of sea level rise and ocean […]
Washington, D.C.—U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, delivered the following opening statement at today’s hearing entitled, “Rising Seas, Rising Costs: Climate Change and the Economic Risks to Coastal Communities.” Chairman Whitehouse’s remarks, as prepared for delivery below. Video of is available here. Ranking Member Grassley, members of the committee, witnesses, […]
WASHINGTON, D.C.—Today, Senator Sheldon Whitehouse, Chairman of the Senate Budget Committee, issued a statement following the annual release of the Congressional Budget Office’s (CBO) Budget and Economic Outlook and a projection that the debt limit must be raised “between July and September” or the federal government would default on its debt. “Today’s CBO Outlook shows just how far we […]
Washington, D.C.—U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, delivered the following opening statement at today’s hearing entitled, “Climate-Related Economic Risks and Their Costs to the Federal Budget and the Global Economy.” Chairman Whitehouse’s remarks, as prepared for delivery: Ranking Member Grassley, colleagues, particularly our new members, let me welcome you to what I hope will […]
Washington, D.C. – U.S. Senator Sheldon Whitehouse (D-RI) today announced that he will step into the role of Chairman of the U.S. Senate Budget Committee for the 118th Congress. “I very much look forward to taking the helm,” said Whitehouse. “Together with the members of the Committee, we will examine a range of subjects that have enormous consequences for […]
WASHINGTON, June 3 – Sen. Bernie Sanders (I-Vt.), Chairman of the Senate Budget Committee, announced today that the committee will hold a hearing Thursday, June 9, at 11:00 a.m. titled “Saving Social Security: Expanding Benefits and Demanding the Wealthy Pay Their Fair Share or Cutting Benefits and Increasing Retirement Anxiety.” Signed into law by President […]
WASHINGTON, May 9 – Sen. Bernie Sanders (I-Vt.), Chairman of the Senate Budget Committee, announced Monday that the committee will hold a hearing Thursday, May 12, at 11:00 a.m. titled “Medicare for All: Protecting Health, Saving Lives, Saving Money.” Today in the United States, some 112 million Americans, about 44 percent of the adult population, […]
Chairman Sanders has invited Jeff Bezos to testify. WASHINGTON, May 2 – Sen. Bernie Sanders (I-Vt.), Chairman of the Senate Budget Committee, announced Monday that the committee will hold a hearing Thursday, May 5, at 11:00 a.m. titled “Should Taxpayer Dollars Go to Companies that Violate Labor Laws?” Thursday’s hearing comes at a time when […]
WASHINGTON, April 1 – Sen. Bernie Sanders (I-Vt.), Chairman of the Senate Budget Committee, announced Friday that the committee will hold a hearing Tuesday, April 5, at 11 a.m. titled “Corporate Profits are Soaring as Prices Rise: Are Corporate Greed and Profiteering Fueling Inflation?” Tuesday’s hearing comes as working families across the country are increasingly […]