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Baldwin Forum Highlights Needed Reforms to Stock Buybacks

March 25, 2019

Baldwin Forum Highlights Needed Reforms to Stock Buybacks

Statement of Bartlett Naylor, Financial Policy Advocate, Public Citizen’s Congress Watch Division

Note: On March 26, at 2:30 p.m. EDT, U.S. Sen. Tammy Baldwin (D-Wis.) will host a forum featuring her reintroduction of the Reward Work Act, which would end corporations’ ability to buy back their stock on the open market and require public companies to allow one-third of their board to be elected by workers. The forum is titled “Stock Buybacks & Corporate Reform,” and will be held in the U.S. Senate Visitors Center, room 208-09.

President Donald Trump’s tax legislation turned out to be an absolute fiasco. Instead of raising pay for workers and investing in innovation, CEOs used Trump’s tax handouts to boost their own pay in the form of stock buybacks. While congressional Republicans are hiding from the fallout of their corporate tax giveaways, this important forum shows the insidious impact on working Americans.

Public Citizen enthusiastically endorses Baldwin’s Reward Work Act.