After the tech sector, Wall Street is the second highest source of wealth for American billionaires.
The outburst came as Senators Warren and Sanders stressed the necessity of scrapping the 60-vote threshold.
The Ultra-Millionaire Tax Act of 2021 calls for a 2 percent tax on wealth between $50 million and $1 billion.
Democrats introduced a resolution calling on Biden to use executive authority to cancel $50,000 for each student debtor.
Biden has proposed canceling up to $10,000 of student debt, but lawmakers say that $50,000 would be more impactful.
After landing a spot on the Finance Committee, Warren said, “It is time to make the ultra-rich pay their fair share.”
The bill comes as Georgia Sens. David Perdue and Kelly Loeffler face scrutiny over suspiciously well-timed trades.
Sen. Elizabeth Warren and others say President-elect Joe Biden should meet this demand on day one.
These unpaid workers often work side by side with paid employees, under grueling conditions.