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Cortez Masto, Wyden Call for Criminal Investigation into Evidence of Fraud by Promoters Affiliated with IRS Nominee Billy Long

April 17, 2025

Former Congressman Billy Long, Trump Nominee for IRS Commissioner, Partnered with Promoters of Fraudulent “Tribal Tax Credits,” Other Tax Scams Washington, D.C. – U.S. Senator Catherine Cortez Masto (D-Nev.) and Senate Finance Committee Ranking Member Ron Wyden (D-Ore.) called for a criminal investigation into promoters involved in a tax evasion scheme selling investors fraudulent “tribal tax credits,” including firms that had close financial ties with former Congressman Billy Long, the Trump nominee for IRS Commissioner.  “As you are aware, the IRS recently confirmed to Senate Finance Committee investigators that these ‘tribal tax credits’ do not exist and that promoters of these credits could face civil and criminal penalties,” the Senators wrote. “It appears that White River Energy Corporation, like other promoters involved in this scheme, used the identity and image of Native American tribes without their knowledge to dupe investors into spending millions to purchase fake tax credits. Given IRS Commissioner nominee Billy Long’s direct financial ties to White River and other entities implicated in this scheme, we are concerned that if confirmed Long could undermine enforcement actions related to this fraudulent scheme.” In response to an inquiry by Democratic Finance Committee staff seeking to better understand the legal mechanisms under which White River and other promoters were able to buy and sell these tribal tax credits, the IRS said the following:  “We can confirm that these tax credits do not exist. Taxpayers who claim credits that don’t exist are subject to penalties and possible examination. Furthermore, promoters of these credits may be subject to civil or criminal penalties. The IRS reminds all taxpayers to be aware of tax scams and encourages taxpayers consult with a reputable tax advisor.” “Promoters engaged in fraudulent ‘tribal tax credits’ schemes must face criminal consequences,” the Senators continue. “The IRS must promptly investigate this matter to send the message that no one is above the law, regardless of whether they have powerful friends in high places.”

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Cortez Masto, Local Advocates Push for Tax Cuts for Working Nevadans, Not Billionaires

Las Vegas, Nev. – Today, U.S. Senator Catherine Cortez Masto (D-Nev.) hosted a press conference alongside representatives from For Our Future Nevada, the Children’s Advocacy Alliance, and New Day Nevada to highlight her legislation to cut taxes for everyday American families. As Republicans’ economic agenda continues to raise prices on working people, the Senator shared an alternative in her Tax Cuts for Workers Act and American Family Act. Earlier this week, Senators Cortez Masto and Bennet (D-Colo.) introduced these bills as part of Senate Democrats’ comprehensive plan to bring relief to the American people.

 

“Working Nevadans need expanded tax relief – not Republicans’ cost raising agenda – to ensure they can keep providing for their families,” said Senator Cortez Masto. “In Congress, Republicans are working to lower taxes for billionaires at the expense of everyone else. On the other hand, what Democrats are proposing is simple: if government is going to be cutting taxes for anyone, then it should be for the hardworking families who would benefit the most.”

The existing Earned Income Tax Credit (EITC) – the Worker Tax Cut – has been delivering tax relief for millions of workers for decades. But it’s just not enough, and Cortez Masto is determined to give more working Americans a break. The Tax Cuts for Workers Act would cut taxes for working class Americans without children, who currently receive a much smaller EITC than workers with children. This expansion would include over 136,000 Nevadans by nearly tripling the average tax break many of these Americans receive from the existing EITC. It also extends eligibility for the tax cut to workers under the age of 25 and over the age of 64.

The 2021 expansion of the Child Tax Credit (CTC) in the American Rescue Plan Act led to a historic reduction in poverty in the United States, particularly for children. Research showed that child poverty fell immediately and substantially to 5.2%, its lowest level on record. TheAmerican Family Act would increase the value of the CTC from the current level of $2,000 per child to $6,360 for newborns, $4,320 for children ages one through six, and $3,600 for children age six through 17; end the longstanding policy that reduces the value of the CTC for low-income families; provide for monthly delivery of the credit so families have access to the credit as bills arrive; and index the CTC for inflation to preserve the value of the credit moving forward.

Senator Cortez Masto has consistently supported efforts to cut taxes and lower costs for hardworking Nevadans. She helped pass critical expansions to the Child Tax Credit in the American Rescue plan, and has been fighting to permanently increase this vital relief for working families. Cortez Masto also helped introduce the No Tax on Tips Act to exempt tipped wages from federal income tax. Additionally, Senator Cortez Masto supports raising the federal minimum wage and eliminating the minimum wage gap for tipped workers nationally.

Cortez Masto Unveils Plan to Reform Federal Home Loan Bank System, Increase the Supply of Homes

Washington, D.C. – Today, U.S. Senator Catherine Cortez Masto (D-Nev.) unveiled the Federal Home Loan Banks’ Mission Activities Act, her plan to reform the Federal Home Loan Banks (FHLBanks). This legislation would help ensure the FHLBanks are re-focused on their mission “to support housing finance and community development.”

 

“When Congress created the Federal Home Loan Banks in 1932, the mission was simple: help families across the United States afford a home,” said Senator Cortez Masto. “However, in the more than ninety years since, the Federal Home Loan Banks have strayed from their mission. I’ve spent years pushing them to do more to support affordable housing in our communities, and I’m proud to present this next step to make them work for every American.”

 

The 11 regional FHLBanks provide financing for more than 6,000 credit unions, banks, community development financial institutions, insurance companies and state housing finance agencies. These funds are meant to allow these organizations to invest more to meet the needs of their communities.

 

The Federal Home Loan Banks’ Mission Activities Act would re-focus the FHLBanks on their mission requirements by:

 

  • Requiring each FHLBank to contribute 30 percent or a minimum of $200 million of its net earnings to its Affordable Home Program and other voluntary programs that meet community needs.
  • Enable small credit unions and community development financial institutions to pledge non-housing loans as collateral and join a Federal Home Loan Bank if they only provide small business, agricultural or community economic development loans.
  • Tying FHLBanks Presidents’ compensation to how well the Banks are meeting their mission of supporting affordable housing and community development.

Throughout her time representing Nevada, Senator Cortez Masto has made reforming the Federal Home Loan Banks a cornerstone of her work. In 2021, Cortez Masto introduced the Federal Home Loan Banks’ Mission Implementation Act, which included elements of this proposal. In Congress, Senator Cortez Masto has also highlighted the fact that Nevada has been treated unfairly by the system, and she has sought additional investment in Nevada by the FHLBank of San Francisco resulting in the first-in-the nation targeted Affordable Housing Program for the state.

 

Following a 2022 letter Senator Cortez Masto sent to FHFA Director Sandra Thompson, the FHFA announced a review of the Federal Home Loan Bank system. In her letter, the Senator called for a review of the FHLBanks and requested that that review consult stakeholders and outside experts to ensure the FHLBanks responsibly used their federal funding. She also asked that the review consider how FHLBanks can better support affordable housing, rural and tribal communities, income inequality, infrastructure investments, and climate resilience. In late 2023, the FHFA released a comprehensive report calling for mission-focused reform of the FHLBanks.

 

Last year, Cortez Masto – alongside Senators Warren (D-Mass.), Wyden (D-Ore.), Smith (D-Minn.), Baldwin (D-Wis.), Sanders (I-Vt.) and Fetterman (D-Pa.) – sent letters to each of the 11 Federal Home Loan Banks (FHLBanks) urging them to contribute at least 20% of their net income to affordable housing and other critical community grant programs. Earlier this year, the Senator secured a $10 million investment from the Federal Home Loan Bank of San Francisco into the Nevada Housing Division’s (NHD) single-family bond program.

Senator Cortez Masto is the Ranking Member of the Financial Institutions and Consumer Protection Subcommittee.

Make the Road Action Nevada Condemns Gutting of the Department of Education

NEVADA — In response to the Department of Education’s announcement that it is laying off half of its staff, amid former President Donald Trump’s continued calls to dismantle the agency, Leo Murrieta, Executive Director of Make the Road Action Nevada, issued the following statement:

Leo Murrieta, Executive Director of Make the Road Action Nevada, issued the following statement on behalf of the organization’s thousands of members:

“This attempt to dismantle the Department of Education is a direct attack on Nevada’s students, educators, and future. Slashing half its workforce is not reform, it is sabotage. This reckless decision threatens over $1.1 billion in federal education funding, forcing schools to lay off teachers, cut special education services, and eliminate after-school programs that keep students on track.

“In Clark County, where classrooms are already overcrowded, students will be packed into even larger class sizes with fewer teachers and counselors to support them. In Washoe County, thousands of children who rely on school meal programs could go hungry, putting their health and learning at risk.

“This is not about improving education, it is about destroying it. While Trump and  MAGA Republican allies dismantle the future of our children, Nevada’s leaders like Governor Joe Lombardo, remain silent. His failure to stand up for Nevada’s students is complicity. We demand he take action now to protect our schools, our teachers, and the future of every child in our state.”

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Make the Road Action Nevada (MRA-NV) works to engage progressive Latine voters and turn them out to support candidates who prioritize justice for working Latine families.

Make the Road Action Nevada Condena el Desmantelamiento del Departamento de Educación

NEVADA — En respuesta al anuncio del Departamento de Educación de que despedirá a la mitad de su personal, en medio de los continuos llamados del expresidente Donald Trump para desmantelar la agencia, Leo Murrieta, Director Ejecutivo de Make the Road Action Nevada, emitió la siguiente declaración:

Leo Murrieta, Director Ejecutivo de Make the Road Action Nevada, emitió la siguiente declaración en nombre de los miembros de la organización:

“Este intento de desmantelar el Departamento de Educación es un ataque directo a los estudiantes, educadores y al futuro de Nevada. Reducir a la mitad su fuerza laboral no es una reforma, es un sabotaje. Esta decisión imprudente pone en peligro más de $1.1 mil millones en fondos federales para la educación, obligando a las escuelas a despedir maestros, recortar servicios de educación especial y eliminar programas extracurriculares que ayudan a los estudiantes a mantenerse encaminados.

“En el Condado de Clark, donde las aulas ya están sobrepobladas, los estudiantes serán hacinados aún más en clases con menos maestros y consejeros para apoyarlos. En el Condado de Washoe, miles de niños que dependen de los programas de alimentación escolar podrían quedarse sin comida, poniendo en riesgo su salud y aprendizaje.

“Esto no se trata de mejorar la educación, se trata de destruirla. Mientras Trump y sus aliados republicanos MAGA desmantelan el futuro de nuestros niños, los líderes de Nevada, como el gobernador Joe Lombardo, permanecen en silencio. Su falta de acción para defender a los estudiantes de Nevada lo hace cómplice. Exigimos que actúe de inmediato para proteger nuestras escuelas, nuestros maestros y el futuro de cada niño en nuestro estado.”

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Make the Road Action Nevada (MRA-NV) trabaja para involucrar a los votantes progresistas Latine y movilizarlos para apoyar a candidatos que prioricen la justicia para las familias trabajadoras Latine.

Cortez Masto, Wyden, Padilla Statement on Reports the IRS Plans to Share Sensitive Taxpayer Data to DHS

Washington, D.C. – Today, U.S. Senators Catherine Cortez Masto (D-Nev.), Ron Wyden (D-Ore.), and Alex Padilla (D-Calif.) released the following statement in response to reports the Internal Revenue Service (IRS) is planning to provide sensitive taxpayer information to the Department of Homeland Security (DHS) to locate suspected undocumented immigrants.

This statement comes after their letter to IRS Acting Commissioner Melanie Krause, IRS Acting Chief Counsel Andrew De Mello, and DHS Secretary Kristi Noem demanding answers on reports that DHS and the “Department of Government Efficiency” have illegally requested sensitive taxpayer information from the IRS. So far, the Trump Administration has not responded to their demand for answers about their plans to require the IRS to turn over home addresses, phone numbers, and email addresses of over 700,000 people.

 “This weekend, it became clear that the Trump Administration is finalizing plans totarget and penalize people who are following federal law and contributing to our economy. This agreement between the IRS and DHS – if finalized – will have long-lasting and devastating implications on our economy, taxpayer privacy, immigrant communities, and the rule of law.

“It’s past time for the Trump Administration to make their plans public. The IRS and DHS must disclose the extent of this agreement and brief Congress immediately.”

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LINK: https://www.cortezmasto.senate.gov/news/press-releases/cortez-masto-wyden-padilla-statement-on-reports-the-irs-plans-to-share-sensitive-taxpayer-data-to-dhs/

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