In response to the House of Representatives voting to pass its budget reconciliation bill, Oxfam America President and CEO Abby Maxman said:
“Today, Republicans in the House voted to punish everyday families across the U.S. by slashing essential services tens of millions rely on, like Medicaid and SNAP, to fund President Trump’s tax giveaways for the ultra-wealthy. While many struggle to make ends meet, billionaire wealth is exploding at such an alarming rate that we expect to see the world’s first trillionaires within a decade, and passing this budget bill will only make that reality more likely. Billionaires like Elon Musk can now look forward to fortune-boosting tax handouts while the rest of us pay a massive price. The House’s decision to gut these essential programs signals a staggering apathy for the struggles ordinary people face.
“Bottom line, this House budget bill would do immeasurable harm to our communities, all to ensure the very richest can continue getting even richer.”
Oxfam is a global organization that fights inequality to end poverty and injustice. We offer lifesaving support in times of crisis and advocate for economic justice, gender equality, and climate action. We demand equal rights and equal treatment so that everyone can thrive, not just survive. The future is equal. Join us at oxfamamerica.org.
/ENDS
Notes to editors:
Oxfam’s 2025 inequality report “Takers not Makers” estimates that, at current rates, the world is on track to see at least five trillionaires within a decade.
The wealth of the ten richest US billionaires increased by $365 billion in the past 12 months, from April 30, 2024 to April 30, 2025.
Oxfam America supports an inequality-reducing tax code and calls on Congress to reject tax giveaways for the wealthiest and large corporations.