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Patriotic Millionaires Applaud Baldwin Bill to Restrict Stock Buybacks

"An essential step towards combating a corporate culture that funnels profits to the top"

WASHINGTON - This morning, following Senator Tammy Baldwin’s introduction of a bill to curb corporate stock buybacks and give workers a voice in how company profits are spent, Morris Pearl, Chair of the Patriotic Millionaires and former managing director at Blackrock, Inc. issued the following statement:

“The $225 billion in stock buybacks that have come following the passage of the GOP tax scam could not be a clearer sign that the tax bill is benefiting stock market investors -- not workers. We must have public companies repurchase shares only with full disclosure, and give workers a seat at the table. Senator Baldwin’s bill is an essential step towards combating a corporate culture that funnels profits to the top, while leaving working Americans to struggle."

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