Controversial Senate Bill 21 signed into law (The Review)
“The reality is, the fearmongering started with [Musk],” Natalia Renta of AFR said. “It’s about giving more power to directors, executives and controlling shareholders like him.”
News Category: AFR in the News
In the News: Elon Musk and His DOGE Bro Have Cashed In on Americans’ Retirement Savings
“Public pension funds are one of the biggest sources of capital for private equity firms,” says Oscar Valdés Viera, who analyzes private equity at Americans for Financial Reform. “Workers indirectly fund private equity’s predatory practices through their pension funds. The private equity billionaires benefit from tax loopholes and giveaways that the rest of us do not get,” he says, pointing out the carried interest tax deduction, which allows private equity managers to get much of their income taxed at the lower long-term capital gains tax rate than the ordinary income tax rate.
Trump’s presidency is his family’s piggybank (The Times)
As Mark Hays, the director of Americans for Financial Reform, observed: “With the launch of a Trump-backed ‘stablecoin’, World Liberty and Trump are now issuing their own private currency, while pressuring Congress to pass a bill … overseen by crypto-friendly Trump loyalists, and daring anyone to object.”
In the News: An Insurance Crisis Compounded by Climate Change Threatens the Broader U.S. Economy (Inside Climate News)
Climate change could soon mark a “death spiral” for the financial industry in parts of the country. “People place a lot of value, besides economic value, on where they live, and a lot of people don’t have the resources to move anyway,” said Alex Martin, policy director at Climate and Finance at Americans for Financial Reform.
Climate-Fueled Insurance Crisis Threatens U.S. Housing and Financial Stability (Program Business)
Rate hikes are not a sustainable solution to the climate-fueled insurance crisis, especially for those unable to relocate. “People aren’t able to afford the cost increases that are coming right now,” says Alex Martin of Americans for Financial Reform.
In the News: Reed Renews Push to End Special Tax Deductions for Huge Executive Bonuses
WASHINGTON, DC – According to the Economic Policy Institute, the gulf in pay between CEOs and average workers is 290 to 1. In an effort to ensure that hardworking U.S. taxpayers are not forced to subsidize lavish executive compensation packages while making a fraction of CEO pay, U.S. Senator Jack Reed (D-RI) today reintroduced legislation that would