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Blog Post | Financial Reform

House Floor Vote on Budget Delayed over Special Interest "Riders" From Wall Street, Other Powerful Interests | Ed Mierzwinski

UPDATED: Opposition to a controversial provision authored by Citibank forced House leaders to delay consideration of the "CRomnibus" appropriations package just hours before funding for the federal government expired at midnight Thursday. Eventually the bill passed narrowly with the Wall Street provision intact. Action now shifts to the Senate, which has a 48-hour window to pass the bill, but any one Senator can block it under Senate rules. The provision would again allow Wall Street banks to place risky bets with taxpayer-backed funds, and require taxpayers to bail them out if the bets fail, repealing a key protection added in the 2010 Wall Street reform law. 

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News Release | U.S. PIRG | Democracy

Congress considers giving megadonors an even louder voice in our elections

Proposed revisions to campaign finance rules would allow big donors to give over $200,000 to party committees.  

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News Release | U.S. PIRG | Financial Reform

U.S. PIRG Condemns Backdoor, Backroom Appropriations Proposal To Gut Wall Street Reform

We join others, including Americans for Financial Reform and the Leadership Conference on Civil and Human Rights, in condemning this backdoor, backroom appropriations "rider" to weaken the Wall Street reform law's protections for taxpayers and Main Street from the risky derivatives swaps that led to the 2008 financial collapse and recession.

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News Release | U.S. PIRG | Tax

Senator Coburn (R-OK) Slams Corporate Deductions of Legal Damages

Senator Coburn publishes a guide to American taxation that describes how Congress and federal agencies should prevent corporations accused of wrongdoing from writing off their out-of-court settlements as a tax deduction.

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Media Hit | Safe Energy

KPBS Public Broadcasting: Concern Raised About Calif. Nuke Plants And Water Supply

"For nearly 2.3 million residents of the Southern California region drinking-water supplies are located within 50 of the San Onofre Nuclear Power Plant," said Emily Rusch, CALPIRG's Education Fund State Director. "That's a concern because, as we learned from last year in Fukushima, Japan, drinking water sources can become contaminated in the event of an accident or underground leak."

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News Release | U.S. PIRG | Higher Ed

SOTU: Obama Pushes Low Interest Rates, More Work-Study

In the annual State of the Union Address, President Obama proposed measures to bring relief to almost 8 million students who will see their student loan interest rates double on new loans starting July 1st, 2012.

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News Release | U.S. PIRG | Budget, Tax

Obama: Companies Shouldn’t Dodge Taxes

Statement of US PIRG Tax and Budget Associate Dan Smith on President Obama’s State of the Union Address.

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Media Hit | Budget

The Economist: You’re on film: The trouble with outsourcing traffic-law enforcement

Phineas Baxandall at the US Public Interest Research Group, a non-partisan advocacy, says the trend toward privatising the enforcement of traffic laws poses inherent conflicts of interest. Municipalities typically sign up because they are strapped for cash. When the contract involves revenue-sharing between the vendor and the municipality, there is an incentive to issue more tickets than necessary. But even flat-fee contracts can cause problems, if the system is implicitly tuned to recoup that fee by, in effect, setting a quota of tickets to be issued.

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News Release | U.S. PIRG Education Fund | Tax

Tax Havens Used by Romney and Large Corporations Cost Taxpayers Billions

With the heightened attention paid to Mitt Romney’s use of offshore tax havens, it is important to remember that tax havens are more than just an electoral issue. Tax havens are a serious policy matter that profoundly affects ordinary Americans, our economy, our national debt and our long-term competitiveness.

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DEFEND THE CFPB

Tell your senators to oppose the “Financial CHOICE Act,” which would gut Wall Street reforms and destroy the Consumer Financial Protection Bureau as we know it.

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