Connect with us

2018 Midterms

Senator Elizabeth Warren Introduces a New Bill to Combat Crony and Corrupt Capitalism

The liberal senator from Massachusetts has a plan to take on Wall Street.

Duane Paul Murphy

Published

on

On Wednesday, August 15, Massachusetts Senator Elizabeth Warren introduced a new federal bill in the United States Senate to reduce income inequality and regulate big businesses on Wall Street as well as across the country. The bill has been endorsed by 14 academic lawyers and economists from across the country, including from Cornell and Harvard.

The proposed legislation, officially called the Accountable Capitalism Act, would require all corporations with more than $1 billion in annual revenue to obtain a federal corporate charter in which it will mandate business directors to consider all major corporate stockholders, such as shareholders, employees, and customers, in business decisionmaking. The bill would also mandate all corporations to have at least 40% of their board of directors elected by their own employees and at least 75% of all corporate directors and stakeholders would have to approve any political expenditures such as donations to a political action committee or a candidate. Furthermore, the bill would block all corporate directors and officers from selling company shares within 5 years of gaining them or 3 years of a company stock buyback.

This is not the first time Warren has touted such as progressive record on Capitol Hill in recent years. The liberal senator and potential 2020 presidential candidate has also supported a Medicare for All single-payer universal health care system, tuition-free, and debt free public higher education, a $15 federal minimum wage, and the national decriminalization of cannabis. Warren is up for reelection in November and is expected to win another term.

Are you looking for digital journalism training and experience? Are you a journalism major who wants to take your career to the next level? CMN’s Digital Journalism course gives you real-time experience, intense feedback on your writing, exposure to journalism influencers and mentors, and a great place to display your work. You can get academic credit too. Check out the Digital Journalism Course here.

Duane Paul Murphy is a D.C. college student and student journalist born and raised in Southern California. Currently studying for his bachelor’s in politics and a minor in media studies, Duane Paul is interested in covering domestic as well as international political affairs that impact the lives of everyday people, whether they are young students, professionals, or faculty in higher education.

Sign up for the Morning Scoop

and wake up with us each day.

CMN Reports

Government2 weeks ago

New Year, New Laws for 2019

New year means new laws.

by , The Catholic American University
Equality2 weeks ago

Nancy Pelosi Elected Speaker of the House

Democrats continued to control the House on Thursday by electing Nancy Pelosi who returned to be the first woman to...

by , Mercy College
Government2 weeks ago

The House to Approve Legislation of Reopening of the Government

Late Thursday night, the new Democratic House passed bills that would reopen the government without paying for Trump’s border wall....

by , Mercy College
Government2 weeks ago

Elizabeth Warren Announces She is Running for President in 2020

On New Years Eve, Senator Elizabeth Warren, (D) Massachusetts, announced that she will become a candidate to enter the 2020...

by , Mercy College
Government3 weeks ago

Senator Elizabeth Warren Wants to Create a Public Option for Generic Drugs

The Massachusetts senator wants to take on big pharma.

by , The Catholic American University
Art1 month ago

Movie Review: Alfonso Cuarón’s ‘Roma’

The Mexican director's latest reflects the modern state of the human experience.

by , The Catholic American University
Environment1 month ago

California Mandates All New Public Transit Buses Go Electric by 2029

The Golden State wants their buses more greener on the roads.

by , The Catholic American University
Government1 month ago

New York Governor Cuomo Pushes for Legalizing Recreational Marijuana in 2019

Today, New York Governor Andrew Cuomo announced that he will be pushing to legalize recreational marijuana in 2019, according to...

by , Mercy College

Top Reads