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Rep. Jayapal backs bill to ‘Defund the Oligarchs’
Resolution calls for taxing billionaires and curbing corporate influence.
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Staff Reporter - Sat, 31, Jan 2026
- 11:19 EST
- 22
Pramila Jayapal / X (Pramila Jayapal)
Indian American Congresswoman Pramila Jayapal joined lawmakers in introducing a resolution calling for higher taxes on billionaires and large corporations and reinvestment of public funds into housing, health care, and education.
The ‘Defund the Oligarchs, Fund the People Resolution’ calls on Congress to “end the political and economic dominance of billionaire oligarchs” and increase taxes on the ultra-wealthy as part of broader economic reforms.
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The proposal was introduced by Rashida Tlaib with Jayapal and Delia C. Ramirez as co-leads, and Summer Lee as an original co-sponsor.
Jayapal said the resolution responds to what supporters describe as a deepening affordability crisis for working families, pointing to rising costs of essentials such as housing and health care.
She highlighted corporate influence over policymaking and proposed measures including breaking up monopolies and reforming campaign finance rules.
“While working families have to choose between paying rent, buying groceries, or keeping the heat on, billionaires are just getting richer,” Jayapal said. “We must rein in corporate power by breaking up monopolies and reforming campaign finance laws.”
The resolution cites figures estimating that the combined wealth of roughly 900 billionaires exceeds that of the poorest 50 percent of the population and argues that concentrated wealth undermines democratic responsiveness to everyday needs.
Jayapal has previously backed wealth tax proposals such as the Ultra-Millionaire Tax Act, introduced by Elizabeth Warren, which sought annual taxes on extremely wealthy households to raise federal revenue.
The measure calls for redirecting public spending priorities toward housing, health care, and education rather than tax breaks and subsidies for large corporations.
Joseph Geevarghese, executive director of Our Revolution, a progressive political advocacy organization founded by supporters of Senator Bernie Sanders, said corporate influence in policymaking has weakened public trust in democratic institutions.
The resolution has drawn endorsements from advocacy groups including Americans for Tax Fairness, National Nurses United, Public Citizen, MoveOn, People’s Action, Social Security Works, and the Wellbeing Economy Alliance.
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