FOR IMMEDIATE RELEASE: May 21, 2025

CONTACT: Carter Dougherty, carter@ourfinancialsecurity.org  

Big, Brutal Bill Advances in House
House majority prioritizes Wall Street and billionaires over human needs

Statement from Ericka Taylor, Co-Executive Director of Americans for Financial Reform on the reconciliation legislation:

The House majority has just chosen to prioritize Wall Street and billionaires over everyday people by advancing legislation that would strip away funds for healthcare and nutrition to give big corporations and the super-rich tax breaks.

Adding insult to injury, they also voted to make people’s lives harder and less secure by giving Wall Street, big banks, and abusive financial companies free rein to fleece the rest of us. The legislation kneecaps the Consumer Financial Protection Bureau’s ability to regulate financial companies, enforce the law, and force corporate wrongdoers to pay back ill-gotten gains.

If it becomes law, this legislation will leave families across the country,  including those the CFPB is specifically charged with protecting – servicemembers, seniors, students, and residents of rural communities – with less in their pockets at the end of the month and more vulnerable to financial predation.

The Senate must resoundingly reject this legislation and stand up for people and communities, not Wall Street tycoons and corporations.

###