FOR IMMEDIATE RELEASE: July 1, 2025 

CONTACT: Jarice Thompson, jarice@ourfinancialsecurity.org 

Big, Brutal Bill Guts Protections, Enriches Wall Street, and Fuels Financial Predation

Washington, DC – Statement of Ericka Taylor, Co-Executive Director of Americans for Financial Reform

Today, the Senate majority rammed through legislation that gives tax breaks to billionaires, cuts programs people rely on to meet their families’ crucial needs, and guts agencies, like the Consumer Financial Protection Bureau, that protect people from abusive corporate practices. Paying for tax breaks for the ultra-wealthy with savage cuts to nutrition, healthcare, and other programs is the most regressive giveaway to Wall Street tycoons that Congress has ever considered. 

Americans for Financial Reform and allies pushed to make Wall Street pay its fair share, stop the attacks on the CFPB, and prevent private equity from buying up housing stock and worsening the housing unaffordability crisis, but the Senate rejected these commonsense improvements. The House of Representatives should stand up for the people and reject the one big, brutal bill, a legislative monstrosity that fuels financial abuse and racial and economic inequality. 

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