Inside the Democrats’ Ambitious, Controversial New Tax Proposals

Former Warren and Biden aide Bharat Ramamurti praises new proposals to raise taxes on the wealthy, but is more skeptical of tax cut plans being rolled out by likely 2028 candidates.

You can watch this episode of Right Now With Perry Bacon above or by following this show on YouTube or Substack. You can read a transcript here.

Democrats are pushing a variety of new tax ideas. Party officials at the state and federal levels are proposing big hikes on income taxes for the wealthy. Senators Bernie Sanders and Elizabeth Warren have rolled out new versions of their wealth tax proposals. Activists are trying to get a measure on California’s ballot that would impose a one-time wealth tax on billionaires there. Meanwhile, some of these same Democrats are also pushing tax cuts. Senators Cory Booker and Chris Hollen want to drastically cut taxes for the middle and working classes, while Georgia gubernatorial candidate Keisha Lance Bottoms is proposing to exempt teachers from paying state income taxes. Bharat Ramamurti, who worked on Warren’s 2020 campaign before taking a senior post in the Biden White House, says that the tax increase proposals are strong and much-needed. But in the latest edition of Right Now, he raises some concerns about the tax cuts as being too large and potentially leaving too little money for more urgent priorities, such as restoring Medicaid funding that has been cut by the Trump administration.

Right Now With Perry Bacon is a twice-weekly show about national politics with a focus on the radicalism of the Trump administration and tactics to combat it. The program, hosted by New Republic staff writer Perry Bacon on Substack, features in-depth discussions with experts and politicians. It goes beyond the daily headlines to explain why things are happening and put them in a broader context.

Subscribe to The New Republic

Sign Up for Our Newsletters

Accessibility Statement

Copyright 2026 © The New Republic. All rights reserved.

© New Republic