John, big corporations are trying to use taxpayer dollars to subsidize massive windfalls for their wealthy executives and shareholders — but Pramila and Elizabeth Warren are leading the fight to stop this corporate greed.
It’s true: $8.5 billion from the CHIPS Act is going to a corporation that has plans to make a $7.24 billion “stock buyback” – a tool that corporations use to provide massive payouts for CEOs and Wall Street.
That’s not right. Our taxpayer dollars shouldn’t help line the pockets of the rich and powerful. It should go toward constructing a fair, strong economy.
Thankfully, Pramila and Elizabeth Warren are fighting back. They just released a scathing letter that calls out this corporate greed for what it is and demands the U.S. Commerce Department live up to the promises made to Pramila when the CHIPS Act was first passed by Congress: Corporations can’t use CHIPS funding to subsidize stock buybacks.
Pramila is showing up for working people and holding big corporations accountable for their greed. This is what it means to fight for an economy that works for EVERYONE — not just those at the top.
We need Pramila in office to continue to advocate for the justice we deserve.
In solidarity,
Jayapal HQ
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