WASHINGTON, May 4 -- Sen. Patty Murray issued the following press release:
U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, introduced the Fair Trusts for Fiscal Responsibility Act of 2026 to close tax loopholes used by the wealthiest Americans to avoid paying taxes through complicated trust arrangements. The legislation is co-led by Senator Ron Wyden (D-OR), Ranking Member of the Senate Finance Committee.
"Firefighters and nurses don't get to hide their money in a trust fund and skip out on paying their taxes-billionaires shouldn't get to either," said Senator Murray. "The very wealthiest Americans hide their fortunes in a trust for generations and call it tax planning-that is absurd and those are doll...