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For Immediate Release
September, 15 2015, 03:30pm EDT
Contact:
Mason Tvert, Director of Communications
For First Time in History, a State Generates More Annual Tax Revenue From Marijuana Sales Than From Alcohol Sales
Colorado’s ‘marijuana tax holiday’ on Wednesday will be a ‘much-deserved day off’ — the state raised nearly $70 million from marijuana-specific taxes in FY 2014-2015, compared to just under $42 million from alcohol-specific taxes
WASHINGTON
DENVER -- For the first time in history, a state has generated more annual revenue from taxes imposed on marijuana than from taxes imposed on alcohol. According to the Colorado Department of Revenue, the state collected nearly $70 million in marijuana-specific taxes and just under $42 million in alcohol-specific taxes from July 1, 2014 through June 30, 2015.
The news comes as Colorado prepares for a "marijuana tax holiday" on Wednesday, during which the state is suspending marijuana-specific taxes for one day. For a more detailed explanation, view the Associated Press's coverage at https://dpo.st/1iMKrcI.
"Marijuana taxes have been incredibly productive over the past year, so this tax holiday is a much-deserved day off," said Mason Tvert, director of communications for the Marijuana Policy Project and a co-director of the campaign in support of the 2012 initiative to regulate and tax marijuana like alcohol in Colorado. "This will be the one day out of the year when the state won't generate significant revenue. Over the other 364 days, it will bring in tens of millions of dollars that will be reinvested in our state."
Colorado raised nearly $69,898,059 from marijuana-specific taxes in FY 2014-2015, including $43,938,721 from a 10% special sales tax on retail marijuana sales to adults and $25,959,338 from a 15% excise tax on wholesale transfers of marijuana intended for adult use. The state raised just under $41,837,647 from alcohol-specific taxes in FY 2014-2015, including $27,309,606 from excise taxes collected on spirited liquors, $8,881,349 from excise taxes on beer, and $5,646,692 from excise taxes collected on vinous liquors. These figures do not include standard state sales taxes or any local taxes.
"It's crazy how much revenue our state used to flush down the drain by forcing marijuana sales into the underground market," Tvert said. "It's even crazier that so many states are still doing it. Tax revenue is just one of many good reasons to replace marijuana prohibition with a system of regulation."
The Marijuana Policy Project (MPP) is the number one organization in the U.S. legalizing cannabis. We passed 13 medical cannabis laws in the past 15 years, and we ran winning campaigns in eight of the 11 legalization states. No organization in the movement has changed as many cannabis laws, impacted as many patients and consumers, created as many new markets, or done more to end cannabis prohibition in the U.S. than MPP.
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Busting CEO Pay Curve in 2025, Musk Made Annual Salary of Average Tesla Worker Every 4.2 Seconds
The AFL-CIO report also points out that "a majority of S&P 500 CEOs made more in one day than the median US worker made in one year."
Aug 13, 2026
"Failed trillionaire" Elon Musk's $158 billion pay package at Tesla was so high that it "broke the CEO pay curve," as the nation's largest federation of labor unions underscored on Thursday in its annual report about chief executive pay.
"Including Musk, S&P 500 CEOs received $340.1 million on average in 2025, about a 1,700% increase over the previous year," explains the AFL-CIO's latest "Executive Paywatch" report. "Excluding Musk's Tesla pay package, the average CEO pay at S&P 500 companies increased 21%, from $18.9 million in 2024 to $22.8 million in 2025."
"The average CEO-to-worker pay ratio across S&P 500 Index companies was 5,387-to-1 in 2025. Musk's total compensation at Tesla was 2,522,203 times the median Tesla employee's pay in 2025," the publication continues. "Excluding Musk, the average pay ratio of S&P 500 companies increased from 285-to-1 in 2024 to 312-to-1 in 2025."
Musk became the world's first trillionaire in June, after another company for which he serves as CEO, SpaceX, went public—but as of Thursday afternoon, his net worth was estimated at around $880 billion, according to the Bloomberg and Forbes billionaire lists.
The AFL-CIO report spotlights the wealth of the world's richest man, noting that last year "Elon Musk received the median Tesla worker's pay every 4.23 seconds—less time than it takes to read this sentence," but it also stresses that he's far from alone in making exorbitant amounts of money compared with the wages of workers at the companies he leads.
"As shown in our latest Paywatch report, executive compensation has reached a new, shameful high," said AFL-CIO secretary-treasurer Fred Redmond in a statement. The report points out that "a majority of S&P 500 CEOs made more in one day than the median US worker made in one year."
"Excessive CEO compensation contributes to growing economic inequality," the document says. "It creates the risk that CEOs will make short-term decisions to maximize their pay, even if it hurts the company's long-term health. And it's simply unfair to the workers whose labor generates the profit these CEOs capitalize on."
Our new Executive Paywatch report is here, and - spoiler alert - greedy CEOs are making even MORE.Top CEOs made 312x what workers make and took home an average of $22.8 MILLION per YEAR in total compensation.Read our full Paywatch report here: Aflcio.org/paywatch
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— AFL-CIO (@aflcio.org) August 13, 2026 at 12:35 PM
AFL-CIO found that the biggest ratio for executive v. worker pay was in manufacturing: Average executive compensation—which often includes not only a salary but also a bonus, stock, a retirement plan, and more—topped $696 million a year, while the typical worker made just over $93,000.
By sector, the second-highest was in arts, entertainment, and recreation, where executives were paid over $24 million while the median worker got just $24,850 annually. In educational services, average executive pay was around $50 million while workers were paid under $58,000.
The report emphasizes that like the CEOs, "2025 also was a very good year" for President Donald Trump, who returned to office in January and, according to recent federal disclosure forms, pocketed at least $2.2 billion last year—which, as the AFL-CIO found, was "a nearly 254% increase from what he received in 2024."
"Trump's 2025 receipts included $1.4 billion from the sale of $TRUMP memecoins and World Liberty Financial, his family's cryptocurrency business," the report says. "The median US worker would need to work 43,154 years to earn what Trump received in 2025."
16% of adults can’t pay all their bills in full.26% skipped medical care due to cost.23% of renters fell behind on rent in the last year.Meanwhile, CEO pay is exploding. Let’s call this what it is: greed.Learn more in our Executive Paywatch report: Aflcio.org/paywatch
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— AFL-CIO (@aflcio.org) August 13, 2026 at 2:15 PM
While gutting the federal government with help from Musk, Trump last year signed the GOP's so-called One Big Beautiful Bill Act, cutting programs for working people to give billionaires more tax breaks—and Wednesday's release of the latest inflation figures highlighted how Americans continue to struggle with the cost of gasoline, groceries, healthcare, housing, and more.
Redmond said that "Elon Musk became the world's first trillionaire. Donald Trump raked in over $2 billion since the 2024 election. Meanwhile, working Americans are struggling to feed their kids and pay their electric bills. But there's a better economy we can build for working people."
"That's why the labor movement will continue to fight for every worker to have a union contract that begins to level the playing field and ensures they take home the share of the profit they create," he added. "And it's why we are spending every day until November organizing and mobilizing 16 million union voters to elect pro-worker politicians who will work for us, not wealthy CEOs."
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‘Twin Victories for Human Rights’ as DNC Advances Resolutions on ICE, Aid to Israel
“Approval of the resolutions... point the way for the Democratic Party to move in directions consistent with what voters want."
Aug 13, 2026
As the war for the future of the Democratic Party rages on, progressives took steps toward a pair of key victories at the Democratic National Committee on Thursday, advancing one resolution calling to abolish the US Immigration and Customs Enforcement agency and another in support of barring US military aid for Israel.
The resolutions, which were both introduced by Louisiana DNC member Michele Johnson, were approved during a meeting in Austin by the DNC Resolutions Committee and are expected to be put before the full committee for a vote by Saturday.
Though resolutions passed through the DNC do not bind lawmakers or presidents to take particular actions, they play an important role in legitimizing positions once confined to the margins but which are fast becoming a consensus among Democratic voters.
"While it may not actually push Congress to do something, it sends a message that we believe these things," Johnson said during an interview last week. "Ultimately, these resolutions can be used in the creation of a platform... to guide Democrats for the next four years."
The first resolution “urges Democratic members of Congress to craft legislation abolishing ICE and enacting immigration reform that provides pathways to citizenship, protects workers, and ensures dignity for all impacted people.”
If passed, it would put the party in line with the majority of its voters, 73% of whom said in an Economist/YouGov poll last month that they believe ICE should be abolished.
It's a position that has been adopted by increasing numbers of lawmakers in the party's progressive wing, like Rep. Alexandria Ocasio-Cortez (D-NY) and Sen. Ed Markey (D-Mass.), but has been resisted by party leaders, including Senate Minority Leader Chuck Schumer (D-NY) and House Minority Leader Hakeem Jeffries (D-NY).
As part of the “mass deportation” crusade during President Donald Trump’s second term, which has resulted in individuals being detained nationwide with little due process, ICE has increasingly relied on indiscriminate raids, warrantless arrests, and racial profiling while setting up a vast network of opaque detention camps with squalid conditions. Most of those rounded up have had no criminal convictions.
As of Thursday, more than 50 people have died in ICE custody since Trump retook office in January 2025, and several more, including multiple US citizens, have been shot during enforcement operations without clear justification.
The resolution "urges Democratic members of Congress to pursue civil and criminal accountability for any federal agent, attorney, or official who lied under oath, misrepresented evidence, or gave false testimony regarding DHS conduct, and to remove qualified immunity and other protections shielding DHS and ICE personnel and subcontractors who have injured protesters or journalists, fired into moving vehicles, or caused deaths in custody, whether of detained individuals, US citizens, or immigrants regardless of nationality or documentation status.“
The other resolution advanced on Thursday states that the DNC supports the "full, consistent, and impartial enforcement" of the so-called "Leahy Laws" to prevent military aid to Israel or any other countries that violate US human rights law.
These laws, named after their sponsor, former Sen. Patrick Leahy (D-Vt.), state that the US cannot provide training, weapons, equipment, or other assistance to a foreign military unit when the government has credible information that it has committed a “gross violation of human rights.”
Critics have argued that former President Joe Biden violated the Leahy Laws by continuing to provide unrestricted military aid to Israel as it waged a genocidal war in Gaza and escalated its assaults on Palestinians in the West Bank during his presidency. Secretary of State Antony Blinken repeatedly balked at calls, including from within his own State Department, to enforce the Leahy Laws despite mounting evidence of atrocities.
A classified State Department report whose findings were publicized in October 2025 found that the Israeli military had committed hundreds of human rights violations that may have warranted enforcement of the Leahy Laws, including many during the Biden administration.
The resolution advanced on Thursday “calls for strengthened vetting capacity, clear remediation standards," referring to the process by which a military that violates human rights can restore eligibility for US funding, "and regular public reporting on the implementation of the Leahy Laws by the Department of State and the Department of Defense."
The resolution also "encourages Democratic members of Congress to conduct robust oversight of Leahy Law implementation and to support legislative measures that close documented enforcement gaps."
Like with ICE, a growing number of Democratic lawmakers are calling for the US to cut off support for Israel, but party leadership has been resistant. This is despite nearly three-quarters of Democratic voters saying in a May 2026 New York Times/Siena poll that they are opposed to sending more funding.
The passage of the Leahy Law resolution shows how the ground has shifted beneath the Democratic establishment since last August, when the Resolutions Committee blocked a resolution that would call for an arms embargo against Israel in favor of a more limited one pushed by DNC chair Ken Martin, calling for unrestricted aid to Gaza and a two-state solution. Martin later withdrew his resolution, leaving neither as the party's adopted position.
In April, more resolutions, which called for the conditioning of military aid to Israel and the recognition of a Palestinian state, were deferred to a working group. Another resolution condemning the influence of the American Israel Public Affairs Committee (AIPAC) was also killed by the resolutions panel.
Sam Rosenthal, the political director of the progressive advocacy group RootsAction, attended the committee meeting on Thursday. His group promoted both resolutions, including by sponsoring a mobile billboard that circled outside the conference, which read, “HEY DNC, UPHOLD THE LEAHY LAWS. SUPPORT HUMAN RIGHTS!”
"These were twin victories for human rights, at home and abroad,” Rosenthal said of the votes on Thursday. “Approval of the resolutions for abolishing ICE and upholding the Leahy Law point the way for the Democratic Party to move in directions consistent with what voters want."
"Getting sufficient turnout from the party’s base at election time," he added, "will require a change in the approach of the party’s national leadership so that it is clearly responsive to the views of Democrats nationwide.”
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'They'll Answer for It in Court': Despite Removal Order, Board Votes to Restore Trump's Name on Kennedy Center
"This latest development is a transparent effort to circumvent the court's ruling, and flies in the face of the statutes that Congress passed," said US Rep. Joyce Beatty.
Aug 13, 2026
President Donald Trump's name is going back on the John F. Kennedy Center for the Performing Arts, despite a court order that mandated its removal.
Trump-appointed members of the Kennedy Center board on Thursday voted to add an inscription underneath the building's main signage that reads, "Restored and Renovated by President Donald J. Trump." The board also voted to rename the site outside the building as "the President Donald J. Trump Plaza."
In December, the board voted to rename the building the "Donald J. Trump and John F. Kennedy Center for the Performing Arts," despite having no congressional authorization to do so.
Six months later, US District Judge Christopher Cooper ruled that the board lacked power to rename the building without congressional approval and ordered the president's name taken down from the building.
Rep. Joyce Beatty (D-Ohio), an ex-officio Kennedy Center board member who filed a lawsuit to stop the building from being renamed, vowed to challenge the latest gambit to slap the president's name on a historic building.
"This latest development is a transparent effort to circumvent the court's ruling, and flies in the face of the statutes that Congress passed," Beatty said. "I will continued to fight for this treasured national monument."
Democracy Defenders Action co-founder Norm Eisen, who served as co-counsel in the previous lawsuit against the board, said that the Trump-appointed members defied the judge's ruling by putting Trump's name back on the building, and vowed that "they'll answer for it in court, again."
Rep. Ted Lieu (D-Calif.) said the Kennedy Center board's latest actions made it imperative to cleanse the nation's capital of Trump's name in the next Democratic administration.
"My bright lines for who I will endorse for president in 2028," wrote Lieu in a social media post. "1. Candidate must put in writing that all references to Trump’s name will be removed from the Kennedy Center and federal buildings. 2. Must do this at a public ceremony with fireworks."
CNN senior political reporter Aaron Blake questioned the political wisdom of forcing Trump's name back on the Kennedy Center given his current low approval ratings.
"Just a reminder that between 7 in 10 and 8 in 10 Americans think Trump is neglecting important issues like affordability, per recent polls," wrote Blake. "And apparently nobody will convince him that stuff like this isn’t helping."
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Jayapal Blasts Alma Mater's Cancellation of Hasan Piker Talk as Threat to Free Speech
"Free speech is a constitutional right that we must all stand up and protect," the progressive congresswoman said.
Aug 13, 2026
US Rep. Pramila Jayapal on Wednesday joined First Amendment defenders in condemning the University of Washington’s cancellation of a planned lecture by controversial socialist streamer Hasan Piker and implored all Americans to stand up for free speech.
The University of Washington (UW) vaguely explained earlier this week that Piker's scheduled January 2027 appearance as part of the school's Speaker Series was canceled after "it was determined that the process for organizing this event did not meet the necessary level of rigor for university-hosted events."
"Going forward, procedures will be updated to ensure the standards we have for university-hosted events like the Speaker Series are met, particularly so that we can help elevate the level of dialogue on divisive topics during a polarized time in our country," the school added.
Japayal (D-Wash.), a UW alumna, said on social media: "As a member of the Judiciary Committee, I have been absolutely clear that free speech is a constitutional right that we must all stand up and protect. I have been communicating my concerns about the cancellation of the Hasan Piker event directly to the university, and they have informed me that they are doing an internal review to ensure this never happens again."
As a Member of the Judiciary Committee, I have been absolutely clear that free speech is a Constitutional right that we must all stand up and protect. I have been communicating my concerns about the cancellation of the Hasan Piker event directly to the University... (1/2)
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— Congresswoman Pramila Jayapal (@jayapal.house.gov) August 13, 2026 at 11:22 AM
Piker—who has millions of subscribers and followers on Twitch and other platforms—responded to the cancellation by accusing UW officials of caving to a "barrage of botted emails" from Israel supporters.
"If this had happened to Charlie Kirk or if this had happened to Ben Shapiro, this would be the number one news story on Fox News for a month," he said, referring to the assassinated Turning Point USA (TPUSA) co-founder and the co-founder of the right-wing Daily Wire.
In fact, TPUSA spokesperson and Charlie Kirk Show producer Andrew Kolvet opposed Piker's cancellation, writing on X: “Let the radical Mao-loving communist Hasan Piker speak, so long as he can resist the urge to call for the death of his political opponents. Universities do this to TPUSA often and blame some admin error etc. It’s wrong.”
The Anti-Defamation League—which has faced heavy criticism for conflating opposition to Israel's wars, illegal occupation and settler colonization, ethnic cleansing, and apartheid with hatred of Jewish people—accuses Piker of "a history of rhetoric that sanitizes violence and denigrates Jewish people."
Piker's most controversial statements include calling some ultra-Orthodox Jews "inbred psychopaths," calling Zionism a "mental illness," dismissing sexual violence perpetrated by Hamas against Israelis on and after the October 7, 2023 attack, calling Hamas "a thousand times better than Israel," and saying the United States "deserved" the al-Qaeda attacks carried out on September 11, 2001 in response to decades of US militant imperialism in Muslim nations. Piker subsequently apologized for his "inbred" comment; he also called his 9/11 remarks "inappropriate."
Piker and his uncle, The Young Turks founder Cenk Uygur, were recently banned from entering the United Kingdom, whose Labour government declared that their presence in the country “may not be conducive to the public good.”
The UW cancellation came four months after the US Department of Justice launched an investigation into the school's handling of alleged antisemitism on campus, which saw a crackdown on pro-Palestine protests during Israel's annihilation of Gaza—described by a United Nations commission of inquiry, international experts, nearly 20 national governments, and people around the world as a genocide.
Ironically, UW officials in 2024 dismantled a sukkah—a temporary outdoor hut built during the annual Sukkot festival—erected by Jewish students opposing Israel's onslaught.
The nonprofit civil liberties group Foundation for Individual Rights and Expression (FIRE) also condemned UW's decision to cancel Piker's speech, arguing on X that "if the decision was based on process—and not public backlash or criticism—UW should be transparent about what standards were not met and how they were applied."
"Public universities can set standards for events," FIRE added. "But they can’t use those standards as cover for canceling a speaker because of their views."
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'Outrageous': Trump Officials Investigated Left-Wing Groups After Alex Pretti Killing in Minneapolis
One First Amendment advocacy group called the investigation a "disturbing, invasive, and utterly unjustifiable attack on freedom of expression and political dissent."
Aug 13, 2026
"These are the actions of an authoritarian state," said US Sen. Chris Van Hollen on Thursday regarding new reports of a broad investigation by the Department of Homeland Security into numerous left-wing groups in Minnesota earlier this year, in the wake of Border Patrol agents' fatal shooting of Alex Pretti at a protest against the agency's anti-immigration crackdown.
As The New York Times reported, days after Pretti was killed in the street as he tried to help a woman who had been violently pushed by the agents, the DHS office in St. Paul opened an investigation into groups including the climate-focused Sunrise Movement, major labor groups like the AFL-CIO and the Service Employees International Union (SEIU), the Democratic Socialists of America, and a collective called Direct Action Minnesota (DAMN).
The Trump administration began the probe under the auspices of investigating whether the groups had provided "help and money," as the Times reported, to people who had participated in protests across the Minneapolis-St. Paul area, where tens of thousands of residents rallied against US Immigration and Customs Enforcement (ICE) and defended their neighbors from immigration raids last winter.
Newly released government documents, which were uncovered after an attorney filed a motion with the federal District Court in Minnesota demanding information about the DHS investigation, show that the agency characterized the protesters who opposed ICE as "violent opportunists and agitators."
The investigation included DHS' use of administrative subpoenas to obtain financial records from Sunrise Movement, Communications Workers of America, and the SEIU, scrutinizing what the agency called "domestic terrorist financing."
Undercover agents also infiltrated Signal chats and meetings at libraries and churches, recording attendees' comments criticizing ICE and calling for the agency to be abolished—a view held by roughly 50% of Americans, according to a recent poll by YouGov—as well as their names and license plate numbers. They also scoured the individuals' social media accounts for images and information.
“None of these individuals did anything other than engage in protected First Amendment speech in a church meeting room,” wrote Kevin Riach, the lawyer who filed the motion. “Yet now their personal information is memorialized in a DHS dossier.”
The investigation "concluded, with no evidence (but obvious political animus), that numerous Twin Cities unions and nonprofit organizations were involved in a widespread conspiracy," said Riach. “It surveilled and surreptitiously gathered financial records generated by these organizations despite the lack of any connection between those organizations and criminal conduct.”
As the Times reported, the indictment in June of 15 organizers who led direct actions against federal agents, announced by US Attorney Daniel Rosen, came out of the sprawling DHS investigation.
When Rosen announced the indictments, he cited National Security Presidential Memorandum 7 (NSPM-7), a memo issued last September and mandated a "national strategy to investigate and disrupt networks, entities, and organizations that foment political violence so that law enforcement can intervene in criminal conspiracies before they result in violent political acts"—with an exclusive focus on left-wing groups.
Before the indictment, the Times reported, investigators showed a PowerPoint slide to grand jurors linking 18 groups including the AFL-CIO, Vets for Peace, and a local teachers union to a "conspiracy" against ICE agents.
The news of the indictment, said Paul Blest of the labor rights media organization More Perfect Union, "should be the biggest story in America."
"Just so everyone clearly understands, the Trump administration's approach to dissent is to exhaust every avenue to put dissenters in federal prison," said Blest.
The First Amendment advocacy group Defending Rights and Dissent called the investigation a "disturbing, invasive, and utterly unjustifiable attack on freedom of expression and political dissent."
"The inquiry comes amid President Trump’s escalating crackdown on freedom of speech across the United States," Defending Rights and Dissent added. "Last year, Trump issued NSPM-7, a directive which tramples the First Amendment in weaponizing the federal government to root out his political adversaries and cast all activism against the administration as 'domestic extremism.'"
"Defending Rights and Dissent calls for this investigation to be dropped immediately," said the group, "and strongly condemns all attempts by the Trump administration to intimidate ordinary Americans exercising their freedom of speech."
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Mysterious Attacks on Ecuadoran Fishing Boats Carried Out by Covert CIA Operation: Report
“It begs the question about why you would need to do this. What would be the purpose of the secrecy?” said a former US government official.
Aug 13, 2026
The Washington Post reported on Thursday that recent mysterious attacks on Ecuadoran fishing boats were carried out as part of a covert CIA operation.
According to the Post, the strikes on the fishing boats, which took place in multiple instances near the Galápagos Islands earlier this year, are separate from the US Department of Defense's bombing campaign against purported drug-trafficking boats that was launched in September 2025 and has so far killed at least 220 people.
Survivors of a boat attack that occurred in March told the Post they remember coming under fire from small quadcopter drones that either dropped munitions on their vessels or directly crashed into them.
After being shipwrecked, the survivors said they were picked up by a nearby vessel, where they were taken aboard, and "hooded and cuffed by armed men, and transported to El Salvador—only to be returned later without explanation to Ecuador."
The Post noted that "no evidence has publicly emerged that the crew members were involved in drug trafficking," adding that "the Galápagos Islands have increasingly become a hub for drug traffickers, where local fishermen are known to pick up jobs delivering gas to smugglers heading to the United States."
Some former US officials with experience working in Latin America told the Post that they were bewildered about the need for a covert CIA boat strike campaign given that the Trump administration has openly boasted about its other attacks on vessels, which many human rights groups and international law experts have called acts of murder.
“It begs the question about why you would need to do this,” one former official said. “What would be the purpose of the secrecy?”
The covert boat strikes were also reported on Wednesday by The New York Times, which presented evidence that they originated in the US without naming their specific source.
Amnesty International last month raised suspicions of US involvement in the January disappearance of Ecuadoran fishing boat called Fiorella.
Amnesty's investigation of the Fiorella's disappearance found that the vessel, in the days before its disappearance, was "allegedly subjected to sustained monitoring by aircraft, patrol boats, and drones bearing United States markings," as the boat's captain sent "daily satellite messages to his family expressing his growing concern about the surveillance."
The ship vanished on January 20.
Two crew members who had departed the ship earlier in the day on a skiff to lay out fishing lines reported seeing "a large column of smoke in the distance in the direction of the Fiorella, but were unable to determine with certainty whether it was from a fire on board," wrote Amnesty.
The two crew members aboard the skiff are the only confirmed survivors of the incident, as the eight other men aboard the Fiorella are still missing.
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Warren Leads Demand for Answers on Trump's 'Unprecedented' Volume of Stock Trades
"Your stock trading in 2025—reportedly more than 14,000 stock trades worth up to $1.06 billion—was more than all 535 members of Congress last year combined."
Aug 13, 2026
Sen. Elizabeth Warren and Rep. Robert Garcia, the top Democrat on the House Oversight Committee, pressed President Donald Trump on Thursday for information on the "unprecedented" volume of stock trades he or his representatives executed during just the first three months of 2026.
In a letter to the president, Warren (D-Mass.) and Garcia (D-Calif.) noted that Trump reported more than 3,500 stock trades in the first quarter of the year, "made by you or someone on your behalf." The lawmakers pointed to one finance industry executive who expressed astonishment at the president's trades, saying, "In the 40-plus years of my time on Wall Street, this is an unusual amount of trading by any standards."
Trump's recent stock transactions have been publicly listed in disclosure reports released in May and June by the US Office of Government Ethics. The disclosures show that Trump reported more than 14,000 trades worth over $1 billion during his first year back in the White House.
"The sheer volume of this trading activity, and the timing of a number of transactions, raise questions about whether you are using your knowledge of government activities, your official authority, or the vast megaphone provided by the presidency to make investments or move markets to your personal benefit—and about whether you have been making decisions that boost your portfolio at the expense of taxpayers, the economy, and national security," Warren and Garcia wrote.
The lawmakers listed dozens of examples of stock trades that Trump executed prior to a "favorable official government announcement" or "favorable presidential statements."
"On March 2, 2026, you purchased up to $5 million of Apple stock," the Democrats wrote in their letter. "Just over one week later, on March 11, you purchased up to $500,000 of Apple stock. That same day, you singled out and promoted Apple, calling it a 'great company' and highlighting the company’s $650 billion investments in new plants across the country."
Warren and Garcia demanded that Trump answer a detailed list of questions pertaining to his suspiciously timed stock trades, including whether he personally directed them and the extend of his knowledge of the transactions.
"We all support a ban on members of Congress trading individual stocks in order to avoid conflicts of interest—or even the appearance of conflicts," the lawmakers wrote to Trump. "Your stock trading in 2025—reportedly more than 14,000 stock trades worth up to $1.06 billion—was more than all 535 members of Congress last year combined. Moreover, the value of virtually every one of the stocks you traded can be directly affected by your official actions and public statements."
Donald Trump reported more than 14,000 stock trades worth up to $1.06 BILLION in his first year back in office.
The President should be working for YOU—not his stock portfolio.
It’s time to BAN Congress, the Vice President, and the President from owning stocks. Period. https://t.co/SSCx7WYJ2M
— Elizabeth Warren (@SenWarren) August 13, 2026
Last week, the Groundwork Collaborative released a report warning that Trump's "blatant corruption is putting American retirement savings at risk."
"Markets only work when everyone plays by the same rules. Right now, the most consequential individual market participant in the country is also the person writing (and ignoring) the rules," the report noted. "President Trump has built a personal trading strategy around having the one advantage ordinary investors can never obtain: knowing what he’ll do next."
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Trump Admin Permanently Guts Law 'Designed to Stop Criminals from Laundering Money' After Push From Elon Musk
“Trump is making it easier for cartels, criminals, and US adversaries to abuse our financial system," said Sen. Andy Kim. "Because he’s in the pocket of billionaires like Elon Musk, who’d potentially benefit."
Aug 13, 2026
Critics are warning that the Trump administration just made financial crimes a lot easier to commit by permanently gutting a law that prevented criminals from using shell companies to obscure their activities. Elon Musk may benefit.
On Tuesday, the Treasury's Financial Crimes Enforcement Network (FinCEN) issued a final rule permanently exempting US individuals and companies from a section of the Corporate Transparency Act (CTA) requiring them to identify the true owners of opaque companies.
The law, which passed in 2020, was ironically introduced and championed by then-US Senator Marco Rubio (R-Fla.), who is now President Donald Trump’s secretary of state and national security adviser.
At the time, Rubio called the law—which he introduced with Sens. Ron Wyden (D-Ore.) and Sheldon Whitehouse (D-RI)—"the most significant anti-corruption and money laundering law in decades."
But Republicans have since pushed to repeal the legislation, which Sen. Tommy Tuberville (R-Ala.) referred to as "big government overreach."
With Republicans in Congress unable to muster the votes to reverse it legislatively, the Trump administration has effectively killed the law by weakening Treasury Department policy. In March 2025, Treasury adopted an interim rule exempting US companies from its requirements.
Plans for a rule change were announced by Treasury less than 24 hours after the SpaceX and Tesla CEO, Musk—who was then leading the so-called Department of Government Efficiency (DOGE)—commented on his social media platform X that he would “look into” the statute in response to a right-wing comedian who'd complained about it.
According to a May report by the nonpartisan Government Accountability Office, more than 99% of entities previously required to report under the law were now exempt. That exemption was made permanent this week.
Treasury Secretary Scott Bessent said it was "a victory for common sense and American small businesses" and called the reporting requirements "burdensome... for millions of law-abiding business owners without compromising our national security.”
Nelson Bunn, executive director of the National District Attorneys Association, said the exact opposite was true.
"By exempting domestic entities and owners from reporting, FinCEN has significantly hindered prosecutors’ ability to identify the bad actors from legitimate businesses when investigating US shell companies used by transnational cartels, human traffickers, and cyberscammers,” Bunn said. "Taking away this indispensable tool for law enforcement endangers American families and communities.”
The change is drawing outrage from Democrats and some Republicans. In a statement on Thursday, Whitehouse and Sen. Chuck Grassley (R-Iowa) said the rule change "undermines the clear intent of the law."
"The act gave the federal government needed tools to address criminal activity like human trafficking, terrorist financing, drug distribution, sanctions evasion, and more without unduly burdening legitimate commercial entities," they said. "This decision is an unfortunate one that fails to use all available tools to protect Americans and crack down on illicit financial schemes.”
Sen. Elizabeth Warren (D-Mass.), the ranking member of the Senate Banking, Housing, and Urban Affairs Committee, highlighted that the committee's previous oversight found the rollback would likely hamper efforts to stop a host of bad actors.
These included Chinese money-laundering networks that have been used to funnel proceeds to drug cartels, fraudsters using opaque ownership to rip off federal grants and benefits, and a Venezuelan national who allegedly used shell companies to hide over $1 billion in cryptocurrency transactions.
Rep. Don Beyer (D-Va.) said the law was “designed to stop criminals from laundering money, and Trump and Secretary Bessent are violating the Constitution to gut it,” and in doing so, “intentionally facilitating corruption and crime.”
In a letter sent to Bessent in March 2026, Warren and other Democratic lawmakers noted that Musk himself would be a direct beneficiary of the rule change, since he "uses a network of dozens of secretive companies—potentially the type of entities that, under the CTA, are required to report ownership information to the Treasury Department."
The New York Times found that in Texas alone, there are over 90 different companies and other legal entities tied to Musk, with others in California, Delaware, and Nevada, which he has used to buy property, structure business deals, hold assets, and pay for political activity—including more than $80 million in super political action committee spending to support Trump in 2024—without putting his own name on the transactions.
"Trump is making it easier for cartels, criminals, and US adversaries to abuse our financial system and harm Americans," said Sen. Andy Kim (D-NJ). "Why? Because he’s in the pocket of billionaires like Elon Musk, who’d potentially benefit from his shady and corrupt actions."
Warren said: "Secretary Bessent should reverse this decision. And he needs to testify in front of this Committee to explain why he’s putting American national security at risk.”
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Imploring Latin America to Quit ICC, Hegseth Suggests 'Fake' Court Could Target US Over Boat Murders
One critic said he hopes the Hague-based tribunal will investigate the Trump administration's "illegal, unproven, expensive, destructive, and pointless boat strikes."
Aug 13, 2026
US Defense Secretary Pete Hegseth on Wednesday urged Latin American governments to quit the International Criminal Court, accusing the Hague-based tribunal of plotting to prosecute American and allied military personnel while defending the Trump administration’s increasingly aggressive—and, experts say, illegal—campaign against alleged drug traffickers.
"We are working together, we are building together, and we are training together," Hegseth said during a speech in Panama at a gathering of the Americas Counter Cartel Coalition (ACCC), a group of mostly right-wing regional governments. "We are killing terrorists. And we're defeating the failed and toxic ideologies of radical socialism and communism."
"Now, speaking of socialism, make no doubt about it, the international left, along with their enabling left-wing media, is plotting to unlawfully assert International Criminal Court jurisdiction over US and partner military personnel and operations," Hegseth asserted, offering no evidence or explanation to support his claim.
Legal experts, including former US military Judge Advocate General Corps attorneys, have argued that aspects of the Trump administration's bombings of boats allegedly smuggling drugs in the Caribbean Sea and Pacific Ocean—particularly Hegseth's alleged order to "kill everybody" and follow-up attacks targeting survivors—may constitute unlawful extrajudicial killings and war crimes. More than 220 people have been killed in at least 66 such strikes over the past 11 months, with survivors, victims' relatives, and regional governments claiming at least some of those killed were fishers with no narco-trafficking ties.
Hegseth has also been accused of promoting war crimes in the illegal US-Israeli war of choice on Iran by vowing that US forces would not be bound by "stupid rules of engagement," threatening to destroy critical Iranian civilian infrastructure like power plants and bridges, and by boasting that US forces were delivering "death and destruction from the sky all day long" as airstrikes killed hundreds of civilians, including 156 students and staff massacred at an elementary school in Minab on February 28.
"To be clear, there is no legitimate basis for the ICC's lawless power grab that they will entertain anywhere they can in the world," Hegseth said in Panama. "Our efforts in this effort are 100% lawful under the laws of armed conflict. It's striking that this so-called court and other globalist bodies undermine our efforts but do nothing to hold real terrorists and real tyrants accountable. And that's why the ICC poses a threat to your national sovereignty, your constitutional mandates, and the national interests of your people—just as it does ours."
"That's why I strongly encourage every ACCC member to leave the ICC, and reject their attempts to rob your governments and your courts of your sovereignty," he added. "I know as a soldier, I swore an oath to the Constitution, not some fake and illegitimate international court."
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Trump's assault on the ICC, which began during his first administration, has escalated during his second term. In February 2025, the president issued an executive order declaring a national emergency over the ICC and authorizing sanctions against court personnel involved in investigations concerning the United States and Israel—two of whose leaders are fugitives from the tribunal.
In November 2024, the ICC issued arrest warrants for Israeli Prime Minister Benjamin Netanyahu and former Defense Minister Yoav Gallant for alleged crimes against humanity and war crimes in Gaza, including murder and forced starvation. The court also ordered the arrest of three Hamas leaders for the same categories of crimes allegedly committed during and after the October 7, 2023 attack on Israel, but Israeli forces extrajudicially assassinated all three of the men.
The warrants for the Israeli leaders incensed the Trump administration, which responded with sanctions and threats.
Last month, Secretary of State Marco Rubio announced a "campaign to dismantle" the ICC, promising to “teach” the court "the full meaning of American resolve." The State Department, meanwhile, said the campaign would seek to “systematically disable” the tribunal’s ability to operate or target US personnel.
The US is not a party to the Rome Statute governing the ICC. However, the treaty states that individuals from nonsignatory nations can be held liable for crimes committed in the territory of a member state, a situation applicable in Palestine, which is an ICC member, while Israel is not.
US disdain and animosity toward the ICC long predates Trump's presidencies. During the administration of George W. Bush, the US passed the American Service Members’ Protection Act—also known as the Hague Invasion Act—which authorizes the president to use “all means necessary and appropriate,” including military intervention, to secure the release of American or allied personnel held by or on behalf of the ICC.
The Trump administration is seeking to persuade countries to abandon the ICC.
Chad and Venezuela—where Trump ordered a January invasion to abduct President Nicolás Maduro and his wife—have announced plans to withdraw, with Chad saying its decision followed a call from a senior US diplomat. The ICC’s Assembly of States Parties has urged both countries to reverse course, warning that the departures threaten the global fight against impunity. The two nations join Burkina Faso, Mali, and Niger, which also initiated ICC withdrawals in 2026.
Only Burundi and the Philippines have actually completed withdrawals from the Rome Statute. Hungary, meanwhile, reversed its planned departure this year after voters ousted longtime right-wing Prime Minister Viktor Orbán.
Hegseth’s Panama appearance coincided with Colombia becoming the ACCC’s 19th member, as new right-wing President Abelardo de la Espriella requested joint US-Colombian military operations against drug cartels and trafficking.
The alignment marks a sharp turn from the government of former leftist President Gustavo Petro, which repeatedly criticized Trump administration boat strikes and supported the South African-led genocide case against Israel currently before the International Court of Justice, also in The Hague.
Such cooperation has led to US intervention in Ecuador's war on drugs. US and Ecuadorian forces are carrying out Operation Total Extermination, a joint counternarcotics operation beset by allegations of human rights violations, including arbitrary detention, torture, and destruction of civilian property.
Responding to reporting, University of Virginia researcher and doctoral student Joseph Bouchard wrote on X that the "ICC may investigate the US's illegal, unproven, expensive, destructive, and pointless boat strikes."
"They should, and hopefully hold these criminals accountable," he asserted. "They are killing hundreds of fishermen for no reason beyond cruelty."
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Troy Jackson Slams 'Failed Trillionaire Elon Musk' as Billionaires Dump Millions Into Maine US Senate Race
"They're scared of a movement that demands Medicare for All, prescription drug coverage, and a government that everyday people can be proud of and know works for them."
Aug 13, 2026
Troy Jackson, the Maine Democrat running to unseat Republican US Sen. Susan Collins in November, took aim at Elon Musk and other billionaires Wednesday evening for supporting his GOP opponent directly or through a key super political action committee.
"Look, the billionaires in the country know whose side they're on, and it's not ours," Jackson, a former logger and state Senate president, said in a brief video shared on social media, including Musk's platform X.
Jackson—chosen as the Democratic nominee via a convention process last month, after primary winner Graham Platner left the race following a rape allegation that he denied—pointed to a $42 million investment in the contest from the Senate Leadership Fund (SLF), whose backers include Musk and various other right-wing megadonors.
"They're here to prop up Susan Collins because they want her to continue to be a rubber stamp and get their income tax cuts," Jackson said. "They're already out with an ad attacking me and my family, to try and make sure that they totally don't talk about the issues."
SLF's 30-second ad, which launched Wednesday, notes his son's lobbying work and smears Jackson as "another dirty politician."
According to Jackson: "They're scared of a movement that goes against the things that they want. They're scared of a movement that demands Medicare for All, prescription drug coverage, and a government that everyday people can be proud of and know works for them."
Wednesday isn't the first time Jackson—who previously ran for governor—has called out billionaires, specifically Musk. After The New York Times reported last month that through his America PAC, Musk intends to spend up to $120 million on a program to help elect Republicans in at least eight states, including Maine, Jackson released a video stressing that the billionaire "doesn't care about us. Really doesn't care about Susan. He cares about him."
"So I would say to you Elon: Maine and really the whole United States doesn't want your dirty money in our politics," Jackson continued. "You don't get to buy the government that you want. This is about all of us coming together and fighting for the government that we deserve, and you're not in it."
Musk became the world's first trillionaire in June, when his company SpaceX made its public market debut, but his current net worth is estimated at over $860 billion, according to the regularly updated Bloomberg and Forbes lists. His trillionaire status came after the early months of the second Trump administration, when Musk was the de facto leader of the Department of Government Efficiency.
Reuters reported Thursday that new data from the American Federation of Labor and Congress of Industrial Organizations shows how Musk's controversial compensation plans for SpaceX and Tesla are benefiting other chief executives. Fred Redmond, the AFL-CIO's secretary-treasurer, said that his pay "changes the dynamic when other CEO compensation plans come up, boards use it as a reference."
The average ratio of CEO to worker pay at S&P 500 companies rose from 285:1 in 2024 to 312:1 last year, excluding Musk's Tesla compensation. When that is included, the ratio becomes 5,387:1. Redmond told Reuters that "as we talk to our members, they're pissed off over what's happening to them, and they feel as though they should be more vocal in terms of calling attention to inequality."
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