Patriotic Millionaires Applaud Baldwin Bill to Restrict Stock Buybacks

Thursday, March 22

For Immediate Release

March 22, 2018

Contact: Sasha Grodsky

[email protected]

202-446-0489

 

 

Patriotic Millionaires Applaud Baldwin Bill to Restrict Stock Buybacks

“An essential step towards combating a corporate culture that funnels profits to the top”

Washington, DC– This morning, following Senator Tammy Baldwin’s introduction of a bill to curb corporate stock buybacks and give workers a voice in how company profits are spent, Morris Pearl, Chair of the Patriotic Millionaires and former managing director at Blackrock, Inc. issued the following statement:

“The $225 billion in stock buybacks that have come following the passage of the GOP tax scam could not be a clearer sign that the tax bill is benefiting stock market investors — not workers. We must have public companies repurchase shares only with full disclosure, and give workers a seat at the table. Senator Baldwin’s bill is an essential step towards combating a corporate culture that funnels profits to the top, while leaving working Americans to struggle.”

For further comments or questions, please contact Sasha Grodsky at [email protected]

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About the Patriotic Millionaires

Proud “traitors to their class,” members of the Patriotic Millionaires are high-net worth Americans, business leaders, and investors who are united in their concern about the destabilizing concentration of wealth and power in America. The mission of The Patriotic Millionaires organization is to build a more stable, prosperous, and inclusive nation by promoting public policies based on the “first principles” of equal political representation, a guaranteed living wage for all working citizens, and a fair tax system. You can find out more at http://patrioticmillionaires.org/about/

The Patriotic Millionaires have appeared on hundreds of media outlets here and abroad, including The Daily Show with Jon Stewart, the PBS NewsHour, The New York Times, Washington Post, CNN, MSNBC, Fox News, and many others. You can find more coverage at http://patrioticmillionaires.org/media

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The Patriotic Millionaires
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