Democratic Senator Elizabeth Warren wants Leon Cooperman to testify on her proposed wealth tax, which the billionaire has slammed as “foolish.”
Warren invited Cooperman, with whom she has repeatedly clashed, to appear at an April 27 hearing on creating a fairer tax system.
“As we move expeditiously toward consideration of changes to our rigged tax code so that the wealthy pay their fair share, I believe you should be afforded the chance to present your perspective directly to Congress,” Warren wrote in a letter sent to Cooperman Monday.
CNBC first reported news of the invitation by Warren.
“The opportunity will allow you to fully air your views, not merely in front of the financial news audience where you often express them, but before the entirety of the American people, Warren wrote.
Cooperman, a longtime hedge fund executive whose net worth Forbes pegs at $2.5 billion, told CNBC he is a “bit suspicious” about the invitation but is nonetheless considering testifying anyway. Cooperman was not immediately available for comment.
The Ultra-Millionaire Tax, which Warren reintroduced last month, would seek to raise at least $3 trillion over 10 years by imposing a 2% annual levy on the net worth of households above $50 million. Billionaires would face a 3% tax.
The Massachusetts Democrat argues the wealth tax would help rebuild the economy and fight inequality. The tax is not part of the Biden administration’s efforts to raise revenue to pay for infrastructure.
The invitation comes after Warren and Cooperman have repeatedly butted heads over her wealth tax.
In 2019, Cooperman accused Warren of “s—ing on” the “f—ing American dream” and got choked up during a TV interview discussing the wealth tax. After a clip of that interview went viral, Warren’s campaign sold a mug reading “BILLIONAIRE TEARS.”
During an interview with CNN Business, Cooperman called Warren, then a Democratic presidential candidate, a “superficial, nasty hater” and urged the public not to fall for “this political charlatan.”