The carried interest tax loophole is an income tax avoidance scheme that allows private equity and hedge fund executives — some of the richest people in the world — to substantially lower the amount they pay in taxes, exacerbating income and wealth inequalities.
Americans for Financial Reform Education Fund and partners Public Citizen, Natural Resources Defense Council, and Center for American Progress released a white paper outlining the key elements that federal bank regulators—including the Federal Reserve Board, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the National Credit Union Administration—can and should incorporate into public supervisory guidance for banks on assessing and addressing the risks faced by banks from climate change.
Federal Reserve Board Chair Jerome Powell has presided over a broad deregulatory agenda that has made our financial system less resilient and driven rising wealth and income inequality.
AFR released housing policy recommendations to promote equitable housing access for all people in the United States, minimize pervasive harm from the COVID-19 pandemic, hold predatory actors accountable, and expand sustainable opportunities in communities of color.
AFR released policy recommendations to strengthen consumer financial protections and work towards reversing the damage caused by systemic racism, and products and systems that amplify inequality.
The federal tax code includes many tax breaks and loopholes that provide tremendous cash benefits to real estate investors, developers, and corporate landlords. Closing these loopholes would generate billions of dollars in revenue.