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Elizabeth Warren warns Dems to stand firm on tax hikes as fight looms over Trump-era cuts

Sen. Elizabeth Warren (D-Mass.) is pressuring Democrats to take a tougher stance on new tax policy as lawmakers prepare for some of the Trump administration’s tax cuts to expire after 2025.

Progressive lawmakers are expected to emphasize the importance of pushing for corporate tax reform at an event hosted by the Washington Center for Equitable Growth titled “The Promise of Fair and Pro-Growth Tax Reform.”

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Senator Elizabeth Warren called on Democrats to take a tougher stance on taxes. (Al Drago/Bloomberg via Getty Images)

“At the end of the tax reform process in 2025, big corporations will have to pay higher taxes. The typical billionaire will have to pay a higher tax rate than the typical middle-class family. The IRS has enough money to enforce the law, so wealthy tax evaders must be sweating it out,” Warren is reported to say. Punchbowl News.

The former presidential candidate plans to make it clear to the party that she cannot compromise too much on its goals: She will reportedly explain that “a little money for poor kids and modest tax cuts for middle-class families is still a terrible deal if we can’t put money toward child care and infrastructure because the wealthiest are still eating up billions of dollars in tax cuts.”

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Tax Forms

Parts of the tax law will expire at the end of 2025. (Kurt “Cyberguy” Knutson)

“I would rather let all of the Trump tax cuts expire than be complicit in another slash-and-burn tax on American billionaires,” she was reported as saying. This was a reference to the tax cuts given to Americans in the Tax Cuts and Jobs Act of 2017, also known as the Trump tax cuts. The cuts are set to expire after 2025, and as Democrats shift the course of tax policy, many Republicans are working to extend them.

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Ron Wyden

Senator Ron Wyden is negotiating a bipartisan tax framework. (Drew Ungerer/Getty Images)

Warren also reportedly plans to criticize a tax framework that has been in the works for months by her Democratic colleague, Sen. Ron Wyden (D-Ore.), chairman of the Senate Finance Committee, who has been in talks with House Ways and Means Committee Chairman Jason Smith (R-Missouri) about a possible bipartisan tax deal.

The Massachusetts senator is expected to criticize his own party, arguing that Republicans “drifted away from the deal because they were convinced there would be even more gains next year and Democrats didn’t have the courage to block it.”

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Joe Biden speaks at the podium with his fist clenched.

President Biden plans to raise taxes on corporations and the wealthy. (SAUL LOEB/AFP via Getty Images)

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Warren’s urging on Democrats not to budge on their tax priorities comes as Democrats on the Senate Finance Committee are reportedly meeting on Thursday to draw up a plan for 2025.

President Biden, seeking a second term in the White House, has said he plans to end former President Trump’s tax cuts at the end of 2025. He also plans to increase taxes on high-income corporations and individuals.

Warren’s office did not respond to Fox News Digital’s request for comment.