Lucas, Corporate lobbyists are celebrating.
A bipartisan majority in the House of Representatives just passed a bundle of laws its proponents have disingenuously labeled the "JOBS Act."
The JOBS Act won't create jobs.
Instead, it will let all but the largest newly public companies dodge regulations that protect investors (i.e., anyone with a 401k or similar retirement plan) from scams, tricks and traps.*
Tell your senators to oppose the House's bipartisan blunder.
The bill is headed for the Senate. Alarmingly, the White House is supporting this destructive bill set up to help companies avoid oversight by the Securities and Exchange Commission.
If this bill passes, the disclosure of out-of-control CEO pay that is now required by the Dodd-Frank Wall Street reform bill would no longer be required at many companies.
Even the disclosure of corporate political spending we have been fighting for would be on the chopping block.
In other words, the bill is a wish list for corporate lobbyists -- and it has nothing to do with creating jobs.
Tell the Senate: Stop this damaging, deregulatory bill and stand up to the president's pandering to big business.
Thanks for all you do,
Rick Claypool
Public Citizen's Online Action Team
action@citizen.org
