On Tuesday, Sen. Elizabeth Warren (D-Mass.) slammed Meta Platforms, Inc.'s (NASDAQ:META) alleged tax windfalls under President Donald Trump's new legislative package, saying the benefits far outweigh what ordinary Americans could ever contribute.
What Happened: Warren criticized a provision in Trump's "Big Beautiful Bill" that she says offers Meta a massive tax break.
"If every one of the 340 million people in America paid a new $35 copay to visit the doctor, that still wouldn't be enough to cover how much Meta would get from just one tax break in Donald Trump’s ‘Big Beautiful Bill,'" she posted on X, formerly Twitter.
The U.S. population is estimated at 342 million, according to the Census — a number that, as Warren pointed out, wouldn’t be enough to offset the tax break given to Mark Zuckerberg’s company under the “Big Beautiful Bill.”
Warren and Meta did not immediately respond to Benzinga's request for comments.
Also Read: Meta Hits 1 Billion Monthly AI Users, Eyes Future With Subscriptions
Why It's Important: Earlier this month, Warren slammed the "One Big Beautiful Bill Act," warning it could cause 16 million Americans to lose health coverage and add $2.4 trillion to the national debt.
Citing Congressional Budget Office estimates, Warren said the bill disproportionately benefits billionaires like Jeff Bezos and Mark Zuckerberg at the expense of everyday Americans.
Warren has also opposed a provision in the bill that would prevent states from regulating artificial intelligence for 10 years. She argued this could lead to higher rents by protecting companies like RealPage. Representative Marjorie Taylor Greene has also criticized the measure.
Bezos and Zuckerberg's Meta have each contributed $1 million to Trump's Jan. 20 inauguration.
According to Benzinga's Edge Stock Rankings, META is exhibiting a consistent upward trend across short, medium and long-term timeframes. More detailed performance insights can be found here.
Photo courtesy: Sheila Fitzgerald / Shutterstock.com
Read Next:
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
