Lawmakers must dramatically step up the quality and quantity of data that the executive branch releases on programs designed to provide relief from the economic downturn stemming from the COVID-19 pandemic, according to a letter from 26 labor, community, consumer, and other organizations.
Joint Letter: Coalition Letter to the Office of Management and Budget Regarding Coronavirus-Related Data Disclosures
Detailed and timely data disclosures are required so Congress, Inspectors General, and the specialized Coronavirus oversight bodies created by the CARES Act can ensure Coronavirus expenditures and benefits are being delivered to the public as intended.
Joint Letter: Coalition Letter Urging Congress to Strengthen and Clarify Coronavirus-Related Data Disclosures
Detailed and timely data disclosures are required to ensure Coronavirus-related expenditures and benefits are being delivered to the public as Congress intended.
Blog Post: Trump’s disaster capitalism rewards real estate investor cronies with extended Opportunity Zone tax break
Trump Administration and Congressional Republicans are using COVID-19 health crisis and economic recession to double down on tax cuts for the top 1 percent.
News Release: Opportunity Zones will worsen affordable housing crisis, displace Black and Brown residents
The Opportunity Zone tax break is likely to exacerbate the affordable housing crisis and displace residents of color and lower-income residents while rewarding rich real estate investors with a lucrative tax break, according to a new report by the Alliance of Californians for Community Empowerment Institute, Americans for Financial Reform Education Fund, Kansas City Tenants, and New York Communities for Change.
The Opportunity Zone (O-Zone) tax break was created by the 2017 Republican tax cut legislation. It was promoted as a way to incentivize investment in economically disadvantaged areas but it is marred by poor design and flawed implementation so that it will most likely provide tax breaks for investments in already booming cities and gentrifying neighborhoods. The program incentivizes investments that aim to maximize returns in lower-income areas where residents are vulnerable to economic displacement pressures.
Letters to Congress: AFR Letter in Support of the Senior Investor Pandemic and Fraud Protection Act.
AFR sent a letter in support of the Senior Investor Pandemic and Fraud Protection Act.
The Securities and Exchange Commission should create new disclosure requirements that would allow investors to analyze how companies are acting to protect workers, prevent the spread of the virus that causes COVID-19, and responsibly use any federal aid they receive, according to a letter signed by more than 98 investors, state treasurers, public interest groups, labor unions, asset managers and securities law experts.
The only plausible reason to hide information about the small-business relief program, as Treasury Secretary Steven Mnuchin announced, is that the Trump administration wants to hide who is or is not getting help, and to what extent it is working.
Private equity firms often profit from mass incarceration and they expand inherently racists business practices in communities of color. Private equity is behind manufacturers of weapons used against people protesting police brutality against the Black community.