A major new report out from Americans for Tax Fairness shows that billionaires poured over $1 billion ito the 2022 midterm elections -- 75% higher than the 2018 midterms and 300 times more than what was spent 12 years ago.

Over a recent nine-year period, the 400 richest billionaires paid an average effective federal income tax rate of only 8.2% when including asset value growth in their income. That’s less than the 13.3% average federal income tax rate for all taxpayers.

In the three years since the coronavirus pandemic began, these billionaires have seen their combined net worth increase to $4.7 trillion, a 58% increase. This is in large part thanks to an inequitable tax code that taxes wealth less than income from work. Billionaires then use this untaxed wealth to fund political campaigns of extremist politicians who will do their bidding, or use it to curry favor with Supreme Court justices.

Our democracy cannot be for sale. The Billionaire Minimum Income Tax Act would make the ultra-wealthy pay taxes on the growth in their investments every year, just like the rest of us pay taxes on our wages. President Biden pressured Congress to pass it during the State of the Union this year, but as of now, Congress has failed to act.

Billionaires built their wealth on the backs of working people and now they’re using that wealth to elect extremists to government legislatures.

We cannot allow a tiny minority to have this much outsized influence on our government.

Add your name to demand Congress protect our democracy and pass the Billionaire Minimum Income Tax now.