In a recent interview with PBS NewsHour, Buffett spoke with Judy Woodruff about the proposed bill.
He even brought his tax return.
Buffett told Woodruff, “If the bill that passed the House with 217 votes had been in effect this year, I would have saved $679,999, or over 17 percent of my tax bill.”
“There’s nothing ambiguous about that. I will be given a 17 percent tax cut. And the people it’s directed at are couples with $250,000 or more of income,” he added. “I have got friends where it would have saved them as much as—it gets to the $10-million-and-up figure.”
Buffett went as far as to say, “You could entitle this the ‘Relief for the Rich Act.’”
He continued to slam members of Congress for potentially giving themselves a large tax cut.
“I think members of the Senate and the House get $174,000 a year. But most of them have — if you look at the disclosures, they have substantial other income. If they get to higher than $250,000, as a married couple, or $200,000 as a single person, they have given themselves a big, big tax cut if they voted for this.”
Buffett has been an advocate for tax increases on the wealthy for many years.