Washington, D.C. – December 5, 2023 – Former U.S. Senators John Breaux (D-LA) and Ben Nelson (D-NE), both senior advisors for Saving America’s Family Enterprises (SAFE), issued the following statement today ahead of the United States Supreme Court hearing oral arguments in Moore v. United States:
“Our organization filed an amicus brief in this case in support of the principle that Americans cannot be taxed on income that they haven’t received. Taxing unrealized gains is unconstitutional and unworkable. We agree that it is important for the wealthy to pay what they owe, and right now there is a nearly $700 billion gap in uncollected taxes. Policymakers should be focused on closing this tax gap instead of ‘guess taxes’ that the IRS is ill-equipped to manage and will hurt jobs and family-owned businesses.”
In September, SAFE filed an amicus brief with the Supreme Court in Moore v. United States seeking to protect Americans and family-owned businesses from being taxed on their unrealized income. SAFE’s amicus brief was co-signed by Senator Breaux and prepared by former Obama administration acting solicitor general Neal Katyal of Hogan Lovells.
You can read the full amicus brief here.
About SAFE
SAFE is a bipartisan research and education organization focused on comprehensive tax reforms that raise revenue, increase fairness, promote greater efficiency, and encourage companies to do more business in the United States.
###
