The new Republican-led House Financial Services Committee continues to demonstrate its intent to serve as a platform for financial industry grievances and wish lists while ignoring consumer concerns. A review from government watchdog Accountable.US of the Republican witness list of a subcommittee hearing today entitled, “Revamping and Revitalizing
Watchdog: MAGA House Votes to Add $114B to Deficit to Protect Wealthy Corporate Tax Cheats and Donors
In one of its first acts in the new Congress, the MAGA House majority voted to rescind necessary enforcement resources from the Internal Revenue Service to the benefit of wealthy corporate tax cheats and donors -- a move the nonpartisan Congressional Budget Office concluded will add $114.4 billion to the deficit over a decade.
As a major rail strike looms that may require Congressional action, a new analysis from watchdog Accountable.US spotlights the big rail industry’s record of greedy behavior as they resist worker calls for safer working conditions and fair pay. Accountable.US found nearly all of the seven Class I railroads have enjoyed high profits.
MEMO: Consumers Last: Republicans Eyeing Powerful Financial Services Committee Gavels are at Wall Street’s Disposal
Protecting consumers has never been much of a priority for Congressman Patrick McHenry (R-NC), the current ranking member of the House Financial Services Committee, who could soon seize the committee’s gavel.
More Federal Reserve officials are predicting a severe economic downturn, with Kansas City Fed President Esther George the latest regional Fed president to claim that recession seems inevitable, even as the Fed plows ahead with more aggressive rate hikes that leading experts conclude will cost millions of jobs.
The Bureau of Labor Statistics’ newly released Producer Price Index report shows inflation is slowing down – echoing signs from the U.S. Labor Department last week. Government watchdog Accountable.US called the report more reason the Fed should ease their overly aggressive policy of raising interest rates.
Ahead of Federal Reserve Vice Chair for Supervision Michael Barr's testimony in front of the Senate Committee on Banking, Housing, And Urban Affairs and House Financial Services Committee this week, Accountable.US is calling on the Fed’s leadership to ease their overly aggressive interest rate hikes.
Today, Accountable.us released a new analysis revealing that 24 of the nation's largest oil companies made over $125 billion in profits this quarter, bringing in over $343 billion this year as they continue to keep prices high for consumers.
Watchdog: As Inflation Cools, Fed Should Take Foot Off Gas And Not Raise Interest Rates Again Next Month
The Labor Department’s latest Consumer Price Index (CPI) report found that while overall inflation remains persistently high, it cooled slightly by 7.7% in October. In order to protect working families from an engineered economic downturn, the Fed should take a wait-and-see approach, rather than raise rates again.
Today, ConocoPhillips announced their massive quarter three profits racking up $4.5 billion this quarter, bringing in over $15 billion in profit this year as they continue to price gouge consumers.