Ranking Member Press
Chairman Whitehouse: Floor Remarks on Committee’s Bipartisan Investigation of Credit Suisse’s Nazi Ties
Washington, D.C.—Today, U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, spoke on the Senate floor about the Committee’s ongoing bipartisan investigation into Credit Suisse’s Nazi ties. The investigation has exposed new details about Credit Suisse’s historical servicing of Nazi clients and Nazi-linked accounts, which in some cases continued until as recently as 2020, and has raised new questions about the bank’s role in supporting Nazis fleeing justice follo… Continue Reading
09.20.23
Senator Whitehouse: Economic Inequality Constricts Economic Growth and Undermines Economic Stability
U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, delivered the following opening statement at today’s hearing titled “Reducing Inequality, Fueling Growth: How Public Investment Promotes Prosperity for All.” Chairman Whitehouse’s remarks, as prepared for delivery: Ranking Member Grassley and members of the Committee, Today’s hearing is about how economic inequality impedes economic growth. Economic growth is essential for our nation and its people. Fosteri… Continue Reading
09.19.23
Sen. Whitehouse Statement on House Republicans’ Budget Resolution
Washington, D.C.—Today, the Republicans on the House Budget Committee released the text of a budget resolution to be marked up tomorrow, September 20, 2023, just ten days before the end of the fiscal year. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, issued the following statement: “In June, Congress passed a bipartisan budget agreement—negotiated under MAGA Republican threat of a U.S default—that set spending levels for the next two years. That agreement was… Continue Reading
09.13.23
Bloomberg Law: Removing ‘Documented Dreamers’ Harms Economy, Senators to Hear
Laurens van Beek grew up in Iowa City, attended the University of Iowa, and landed a job at a DNA technology firm after graduation. But a year ago he was forced to leave the US for the Netherlands, a country he hadn’t visited since he was seven years old. About a quarter million “documented dreamers” in the US on dependent visas, like van Beek, are at risk of aging out of legal status when they turn 21 because their immigrant parents are stuck in the green card backlog or otherwise have no path… Continue Reading
09.13.23
Senator Whitehouse: Broken Immigration System Harms People, Reduces Economic Growth and Competitiveness
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 titled “Unlocking America’s Potential: How Immigration Fuels Economic Growth and Our Competitive Advantage.” Chairman Whitehouse’s remarks, as prepared for delivery: Co-Chairman Padilla, Ranking Member Grassley, Senator Lee and members of the committee, distinguished witnesses, and guests: This morning, we discuss the role that immi… Continue Reading
09.12.23
Senator Whitehouse’s Statement on Adjusting Topline Spending Limit for Minibus
Washington, D.C.—Today, consistent with the bipartisan agreement to avert default, Senator Sheldon Whitehouse (D-RI), Chairman of the Senate Budget Committee, adjusted the topline spending limit for the Appropriations Committee to allow this week’s minibus bill to proceed. The Fiscal Responsibility Act, which passed in June of this year, lifted the debt limit and established spending caps for the next two fiscal years. It allows for extra funding above the caps on defense and nondefense spendi… Continue Reading
09.11.23
ICYMI: As Economy-wide Risks from Climate Change Pile Up, Senator Whitehouse Urges Action
Washington, D.C.—In case you missed it, Project Syndicate published an opinion piece today by Senator Whitehouse (D-RI), Chairman of the Senate Budget Committee, highlighting the mounting economic risks from climate change. Across ten Budget Committee hearings, central bankers, financial experts, economists, insurance executives, political leaders, and other thoughtleaders have testified that in addition to the immediate costs of emissions-driven natural disasters, climate change poses new syst… Continue Reading
08.17.23
Credit Suisse Failed to Fully Investigate Nazi-Linked Accounts, Full Report Confirms
WASHINGTON, D.C. – Persistent and bipartisan oversight by the Senate Budget Committee has exposed new details that show Credit Suisse’s internal investigation into its servicing of Nazi clients and their enablers was insufficient, allowing the bank to continue to obscure details of its historic servicing of Nazi clients and their enablers. Pursuant to subpoena, the Budget Committee obtained records, which it released in April 2023, that brought to light new evidence … Continue Reading
08.03.23
Sen. Whitehouse: “It is a straight line from Republicans’ manufactured debt crisis to Fitch’s downgrade”
WASHINGTON, D.C.— Senator Sheldon Whitehouse (D-RI), Chairman of the Senate Budget Committee, issued the following statement on the recent decision by Fitch Ratings. “It is a straight line from Republicans’ manufactured debt crisis to Fitch’s downgrade. Years of Republicans’ debt limit brinkmanship, showering billionaires with tax giveaways, and campaigning for economic default have come with a heavy price. Once again, Americans are being stuc… Continue Reading
07.28.23
NEWS: New GAO Report Finds Retirement Savings Stagnate for Middle-Class Americans, While the Wealthy See Huge Gains
WASHINGTON, D.C. - According to a new report-commissioned in 2020 by Senators Bernie Sanders (I-Vt.), Chairman of the Health, Education, Labor, and Pensions Committee, and Sheldon Whitehouse (D-R.I.), Chairman of the Committee on the Budget, and released yesterday by the Government Accountability Office (GAO)-the gap in retirement account balances between middle- and high-income older households more than doubled from 2007 to 2019. While the median account balance for high-income older household… Continue Reading
07.27.23
Phillip Swagel Reappointed as Director of Congressional Budget Office
Today, House and Senate leadership re-appointed Dr. Phillip Swagel to a second four-year term as Director of the nonpartisan Congressional Budget Office (CBO). As required by the Congressional Budget Act, the appointment was made jointly by Speaker of the House Kevin McCarthy (R-CA) and President Pro Tempore of the Senate Patty Murray (D-WA), upon the joint recommendation of House Budget Chairman Jodey Arrington (R-TX) and Senate Budget Committee Chairman Sheldon Whitehouse (D-RI). "Dr. Swagel… Continue Reading
07.26.23
Sen. Whitehouse: Climate change is placing unprecedented strain on our nation’s infrastructure
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, titled "Beyond the Breaking Point: The Fiscal Consequences of Climate Change on Infrastructure." Chairman Whitehouse's remarks, as prepared for delivery: Ranking Member Grassley, members of the committee, witnesses, and guests, welcome to the tenth in our series on the enormous economic dangers of climate change to the federal b… Continue Reading
07.20.23
House Republicans’ Cuts Would Cost Jobs, Slow Economic Growth, CBO Finds
Washington, D.C. - Reneging on the bipartisan budget agreement that was signed into law to avoid a catastrophic default, House Republicans are proposing cuts to Fiscal Year 2024 spending bills that would cost a half a million jobs and reduce GDP growth by $138 billion next year, according to analysis published today by the nonpartisan Congressional Budget Office. The analysis was requested by Senator Sheldon Whitehouse (D-RI), Chairman of the Senate Budget Committee.Although President Biden sign… Continue Reading
07.12.23
Sen. Whitehouse: We can protect Social Security for all without cutting benefits
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,titled "Protecting Social Security for All: Making the Wealthy Pay Their Fair Share." Chairman Whitehouse's remarks, as prepared for delivery: Since the start of this Congress, my distinguished ranking member and many of the Republican members of this Committee have insisted we should focus only on rising debt and deficits. Be… Continue Reading
07.11.23
Whitehouse, Boyle Legislation to Protect Social Security for All, Make Wealthiest Pay Fairer Share Will Extend Solvency Indefinitely
Washington, D.C.—New analysis released today by the Social Security Administration’s Office of the Chief Actuary finds the Medicare and Social Security Fair Share Act, originally introduced by Senator Sheldon Whitehouse (D-RI), and with companion legislation introduced today by Congressman Brendan F. Boyle (D-PA-02), would extend Social Security solvency indefinitely by making the nation’s highest earners contribute their fair share. The Chief Actuary’s letter was issued in response to a joint r… Continue Reading
06.22.23
Grassley, Whitehouse Recognized for Shining Light on Nazi-Linked Accounts at Credit Suisse
WASHINGTON, D.C. - The Simon Wiesenthal Center, a global Jewish human rights organization dedicated to confronting anti-Semitism, hate and terrorism, recognized Budget Committee Ranking Member Chuck Grassley (R-Iowa) and Chairman Sheldon Whitehouse (D-R.I.) for their efforts to shine a light on previously-undisclosed Nazi-linked accounts held by Credit Suisse. DOWNLOAD PHOTOS Members of the Simon Wiesenthal Center present shofars to Sens. Chuck Grassley and Sheldon Whitehouse. Pictured from … Continue Reading
06.21.23
Sen. Whitehouse: Fossil fuel-funded climate obstruction is causing systemic financial risks to the economy
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, titled “Dollars and Degrees: Investigating Fossil Fuel Dark Money’s Systemic Threats to Climate and the Federal Budget.” Chairman Whitehouse’s remarks, as prepared for delivery: Before we get to our opening statements, I’d like to take a moment to correct the record regarding the International Monetary Fund’s 2021 working paper sho… Continue Reading
06.14.23
Sen. Whitehouse: “So much for their fabled concerns about the deficit”
Washington, D.C.— Today, Senator Whitehouse (D-RI), Chairman of the Senate Budget Committee, delivered the following remarks after the House Ways & Means Committee began marking up Republicans’ new tax package, which would increase the deficit, undo climate progress, and deliver tax cuts that would primarily benefit large corporations and the wealthy. Watch: Video of Senator Whitehouse’s remarks available here Chairman Whitehouse’s remarks, as prepared for delivery: So, we are just … Continue Reading
06.09.23
Budget Committee Launches Investigation into Major Insurance Companies’ Climate Risk Evaluation, Fossil Fuel Support
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, Berkshire Hathaway, Chubb, Liberty Mutual, Starr, State Farm, and Travelers, the … Continue Reading
06.07.23
Sen. Whitehouse: Climate change threatens agriculture sector, federal budget
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 agriculture sector, the associated economic and budgetary costs, and the important steps that we can take to help mitigate them. As we’ve highlighted in this s… Continue Reading