In response to the Senate voting to pass their reconciliation bill cutting taxes and social spending, Rebecca Riddell, Senior Policy Lead for Economic and Racial Justice at Oxfam America, said:
“Today, Senate Republicans passed a destructive tax bill that would leave millions hungry and without healthcare so the wealthiest few can become even richer. While so many people across the country still struggle to make ends meet, the 10 richest men in the U.S. increased their fortunes by $365 billion over the past year alone. But rather than investing in ordinary workers and families, the Senate has voted to slash life-saving programs to pay for a historic wealth transfer upwards to the ultra-rich.
“Research clearly shows that cutting vital programs like Medicaid and SNAP increases suffering and will lead to thousands of excess deaths. Lawmakers need to ask themselves: how many people are you willing to harm to pad the pockets of billionaires?”
/ENDS
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.
Notes to editors:
A recently published study in The Lancet found that cuts to Medicaid would increase financial hardship and lead to thousands of excess deaths.
An analysis by the University of Pennsylvania’s Leonard Davis Institute of Health Economics found that the changes to healthcare programs in the House-passed reconciliation bill — which is substantially similar to the Senate bill — will lead to over 51,000 preventable deaths annually.
A 2019 study published in Health Affairs found that “SNAP participation is associated with a population-wide average decline of 1-2 percentage points in the risk of mortality.”
Oxfam found that the 10 richest U.S. billionaires saw their wealth increase by $365 billion between April 30, 2024 and April 30, 2025. A modest 3% tax on wealth over $1 billion would raise over $50 billion from the 10 richest U.S. billionaires alone. This is enough to cover a year of food assistance for 22.5 million people.
Oxfam America supports an inequality-reducing tax code and calls on Congress to reject tax giveaways for the wealthiest individuals and large corporations.