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Blog Post | Financial Reform

House Floor Vote on Budget Delayed over Special Interest "Riders" From Wall Street, Other Powerful Interests | Ed Mierzwinski

UPDATED: Opposition to a controversial provision authored by Citibank forced House leaders to delay consideration of the "CRomnibus" appropriations package just hours before funding for the federal government expired at midnight Thursday. Eventually the bill passed narrowly with the Wall Street provision intact. Action now shifts to the Senate, which has a 48-hour window to pass the bill, but any one Senator can block it under Senate rules. The provision would again allow Wall Street banks to place risky bets with taxpayer-backed funds, and require taxpayers to bail them out if the bets fail, repealing a key protection added in the 2010 Wall Street reform law. 

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News Release | U.S. PIRG | Democracy

Congress considers giving megadonors an even louder voice in our elections

Proposed revisions to campaign finance rules would allow big donors to give over $200,000 to party committees.  

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News Release | U.S. PIRG | Financial Reform

U.S. PIRG Condemns Backdoor, Backroom Appropriations Proposal To Gut Wall Street Reform

We join others, including Americans for Financial Reform and the Leadership Conference on Civil and Human Rights, in condemning this backdoor, backroom appropriations "rider" to weaken the Wall Street reform law's protections for taxpayers and Main Street from the risky derivatives swaps that led to the 2008 financial collapse and recession.

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News Release | U.S. PIRG | Tax

Senator Coburn (R-OK) Slams Corporate Deductions of Legal Damages

Senator Coburn publishes a guide to American taxation that describes how Congress and federal agencies should prevent corporations accused of wrongdoing from writing off their out-of-court settlements as a tax deduction.

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Media Hit | Democracy

National Journal: Passive-Aggressive Birthday Wishes to the Chamber

"The U.S. Chamber of Commerce is the poster child for Citizens United.They are the poster child for the unaccountable big money that's spreading secrets and lies through our democracy and corroding our right to self government," Blair Bowie of U.S. PIRG said, adding "In America, in a democracy, the size of your wallet does not determine the volume of your voice."

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News Release | U.S. PIRG Education Fund | Democracy

One Hundred Years of Secrets and Lies

The U.S. Chamber of Commerce should disclose the corporate donors behind its electoral advertising, U.S. PIRG, Public Citizen, Business Ethics Network, small business representatives and others said at a press conference today. The groups gathered in Lafayette Square, between the White House and U.S. Chamber headquarters. After the media event, they delivered over 30,000 petitions to the Chamber calling on it to shed light on the funders behind the millions of dollars worth of political ads the Chamber has purchased throughout the country.

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News Release | U.S. PIRG | Democracy

New Jersey Legislature Formally Calls for a Democracy Amendment

Today, New Jersey became the ninth state to officially go on record in favor of a constitutional amendment to overturn the Supreme Court’s Citizens United decision and get big money out of our elections.

The passing of New Jersey’s resolution moves us one step closer towards correcting the Court’s disastrous misinterpretation of the first amendment and to ensuring that the voices of ordinary citizens aren’t drowned out by special interests.

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Media Hit | Higher Ed

Average student loan debt rises to $26,600 for class of 2011

"Increasing student debt in a weak economy can be a knock-out blow to many considering college," said Rich Williams, higher education advocate with U.S. Public Interest Research Group, which advocates for students. "As our economy is recovering, lawmakers must send every signal that college is a good investment. "
 

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News Release | U.S. PIRG | Democracy

Press Conference: Celebrating 100 Years of Secrets and Lies

One of the biggest post-Citizens United dark money spenders in this year's election is the U.S. Chamber of Commerce. Despite trying to pass itself off as representing mom-and-pop small businesses, the U.S. Chamber's corporate funding has enabled it to become the second biggest outside spender to date and to pledge to spend up to $100 million in races across the country. Yet the U.S. Chamber will not disclose to the electorate the sources of its funding, denying citizens the opportunity to judge the credibility of its messaging. The U.S. Chamber exemplifies the unaccountable secret spending of the post-Citizens United landscape.

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