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Media Hit | Budget, Tax

New York Times: Paying the Price, But Often Deducting It

[T]here’s more than meets the eye to the big legal settlements you’ve been reading about involving some of the nation’s biggest banks. Actually, there’s less than meets the eye. The dollar signs are big, but they aren’t as big as they look, at least for the banks. That’s because some or all of these payments will probably be tax-deductible. The banks can claim them as business expenses. Taxpayers, therefore, will likely lighten the banks’ loads.

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News Release | U.S. PIRG | Public Health

FDA Protects Public by Releasing Two Long-Delayed Food Safety Rules; Five Critical Rules Still Yet To Be Released

After a one-year delay, the FDA finally released two vital food safety rules that will help protect American consumers from unsafe and contaminated food. The proposed rules will improve the safety of produce and establish better preventative controls and practices in food manufacturing.


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News Release | U.S. PIRG | Budget, Tax

Do New Mortgage Settlements Contain a Hidden $7 Billion Tax Subsidy for Banks?

Unless federal agencies prevent it, the banks in yesterday's settlement announcements will likely write off the penalties on their taxes, effectively forcing ordinary taxpayer to provide $7 billion in tax subsidies for their wrongdoing.

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Mortgage settlement will send billions to struggling homeowners

Almost 4 million homeowners might receive cash compensation and mortgage relief in a multi-billion-dollar settlement with 10 major banks, government regulators announced Monday. [...] “The money is grossly inadequate for homeowners, and the program will require careful oversight to ensure that all homeowners harmed get a fair chance at benefits,” said Ed Mierzwinski, the consumer program director for U.S. PIRG, a nonprofit advocacy group.

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News Release | U.S. PIRG | Tax

With Fiscal Cliff Deal Finalized, Congress Should Close Costly Corporate Tax Loopholes and End Special Interest Handouts

Statement of U.S. PIRG Tax and Budget Advocate Dan Smith on the fiscal cliff deal and the continuing need for tax and budget reforms.

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News Release | U.S. PIRG | Financial Reform

Two Years After Passing the Credit CARD Act, Congress Steps Up Attacks on Consumer Cop Designed to Enforce It

The Credit CARD Act of 2009 has eliminated numerous credit card tricks and traps without causing skyrocketing interest rates or any of the other horrible side-effects that the banks once warned about.  Now the banks and their Congressional allies are seeking to eliminate the CFPB, the new consumer cop created to enforce the CARD Act and protect consumers from other tricks of the trade, like unfair mortgage and overdraft practices.

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News Release | U.S. PIRG Education Fund | Health Care

New Rules on Insurance Premium Hikes Will Protect Consumers

A statement by U.S. PIRG Health Care Advocate Larry McNeely on regulations released yesterday by the U.S. Department of Health and Human Services regarding the review of unreasonable health insurance premium rate increases.

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News Release | U.S. PIRG | Public Health

Consumer, Health, and Safety Groups Urge Congress to Reject Bill that Weakens the Consumer Product Safety Improvement Act (CPSIA)

A coalition of consumer, health, and safety groups today called on Congress to reject a bill that would weaken the Consumer Product Safety Improvement Act (CPSIA), a vital law that keeps unsafe toys and products off the shelves.

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News Release | U.S. PIRG | Financial Reform

Congress Should Reject Attempts to Put "Knife in the Ribs" of CFPB

U.S. PIRG and other members of Americans for Financial Reform are urging the House of Representatives to reject three proposed bills designed to defang and delay the new Consumer Financial Protection Bureau (CFPB).

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News Release | U.S. PIRG | Health Care

House Bill Would Drive Up Health Costs, Restrict Consumers' Choices

H.R. 1213 would hurt consumers by zeroing out the start-up funds needed to get new competitive state health insurance marketplaces off the ground. Delaying the establishment of these exchanges will mean years more of the status quo – a stagnant marketplace with little competition, fewer choices and unchecked premium growth.

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The overuse of antibiotics on factory farms is threatening these lifesaving medicines. Call on big restaurants to do their part and stop buying meat raised with critical antibiotics.

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