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

Government1 week ago

Speaker Pelosi Endorsed Lowering the Voting Age to 16 years Old

The kids maybe alright to vote.

by , The Catholic American University
National News1 week ago

Here’s What We Know So Far About Operation Varsity Blues

A summary and the latest updates about the largest college admissions scandal to hit the country.

by , George Washington University
Government1 week ago

The Department of Health and Human Services Received Complaints of Alleged Sexual Abuse Against Foreign National Minors

Migrant children may be at risk on the ground and overseas.

by , The Catholic American University
Government1 week ago

California Governor Gavin Newsom Suspends Death Penalty Statewide

The Golden State is on the verge of ending the death penalty.

by , The Catholic American University
Government1 week ago

Top Congressional Republicans Decry Progressive Policies as Socialist

A Third Red Scare in Washington?

by , The Catholic American University
Government2 weeks ago

North Dakota State University Football Player Wears Socialist Pin at the Trump White House

The Reds infiltrate the White House.

by , The Catholic American University
National News2 weeks ago

Ethiopian Airlines Jet Crashes, No Survivors on Boeing 737

This is the second flight, in five months involving a Boeing 737.

by , CMN Senior Correspondent
Government2 weeks ago

Progressives, Socialists, Make Gains in Local Elections in NYC and Chicago

The left is on the rise in big cities.

by , The Catholic American University

Top Reads