March, 30 2022, 07:23am EDT

For Immediate Release
Contact:
Collin Rees, Oil Change International, collin@priceofoil.org
Laurel Sutherlin, Rainforest Action Network, laurel@ran.org
New Report: Despite 'Net Zero' Rhetoric, World's Biggest Banks Continued to Pour Billions into Fossil Fuel Expansion in 2021
Annual Banking on Climate Chaos report follows the money and details massive bank support for the world’s worst climate-destroying corporations
SAN FRANCISCO
Released today, the 13th annual Banking on Climate Chaos report, the most comprehensive global analysis on fossil fuel banking to date, underscores the stark disparity between public climate commitments being made by the world's largest banks, versus the reality of their largely business-as-usual financing to the fossil fuel industry.
The report documents that in the six years since the Paris Agreement was adopted, the world's 60 largest private banks financed fossil fuels with USD $4.6 trillion, with $742 billion in 2021 alone. 2021 fossil fuel financing numbers remained above 2016 levels, when the Paris Agreement was signed. Of particular significance is the revelation that the 60 banks profiled in the report funneled $185.5 billion just last year into the 100 companies doing the most to expand the fossil fuel sector.
Banking on Climate Chaos was authored by Oil Change International, BankTrack, Indigenous Environmental Network, Rainforest Action Network, Reclaim Finance, Sierra Club, and Urgewald, and is endorsed by over 500 organizations from more than 50 countries around the world.
The report shows that overall fossil fuel financing remains dominated by four U.S. banks, with JPMorgan Chase, Citi, Wells Fargo, and Bank of America together accounting for one quarter of all fossil fuel financing identified over the last six years. JPMorgan Chase remains the world's worst funder of climate chaos, while JPMorgan Chase, Wells Fargo, Mizuho, MUFG, and all five Canadian banks were among those that increased their fossil financing from 2020 to 2021. As global oil and gas markets are rocked by Russia's invasion of Ukraine, the data reveal JPMorgan Chase to be the biggest banker covered in this report for Russian state energy giant Gazprom, both in terms of 2016-2021 totals and when looking only at last year. JPMorgan Chase provided Gazprom with $1.1 billion in fossil fuel financing in 2021.
The report includes a timeline that lays out how banks that joined the Net-Zero Banking Alliance (NZBA, part of the Glasgow Financial Alliance for Net Zero) last year simultaneously financed some of the most egregious oil and gas expansion companies, potentially helping to lock the planet into decades of climate-warming emissions. Immediately following the April 2021 launch of the NZBA, many signatory and soon-to-be-signatory banks engaged in huge transactions completely counter to achieving "net zero," including: May 2021: $10B to Saudi Aramco (Citi, JPMorgan Chase), $1.5B to Abu Dhabi National Oil Co. (Citi); June 2021: $12.5B to QatarEnergy (Citi, JPMorgan Chase, Bank of America, Goldman Sachs); August 2021: $10B to ExxonMobil (Citi, JPMorgan Chase, Bank of America, Morgan Stanley). Out of the 44 banks in this report currently committed to net-zero financed emissions by 2050, 28 still don't have a meaningful no-expansion policy for any part of the fossil fuel industry.
The world's leading climate scientists have concluded that existing reserves of fossil fuels contain more than enough carbon pollution to break our remaining 'carbon budget' and thrust the world past 2 degrees Celsius of warming -- let alone the 1.5 degree aspirations of the Paris Agreement -- and the climate catastrophe that entails.
The new Global Oil and Gas Exit List exposes the fact that upstream oil and gas expansion is remarkably concentrated: the top 20 companies are responsible for more than half of fossil fuel development and exploration. Today's report shows that bank support for those companies is also remarkably concentrated: the top 10 bankers of those top 20 companies are responsible for 63% of the companies' big-bank financing since Paris. Each of those top ten bankers is formally committed to net zero by 2050: JPMorgan Chase, Citi, Bank of America, BNP Paribas, HSBC, Barclays, Morgan Stanley, Goldman Sachs, Credit Agricole, Societe Generale.
Fossil Fuel Sector Trends:
Alarmingly, tar sands saw a 51% increase in financing from 2020-2021 to $23.3 billion, with the biggest jump coming from Canadian banks RBC and TD, with JPMorgan Chase still a major player. Fracking saw $62.1 billion in financing last year, dominated by North American banks with Wells Fargo at the top. JPMorgan Chase, SMBC Group, and Intesa Sanpaolo were the top bankers of Arctic oil and gas last year, with $8.2 billion in funding to the sector in 2021. Morgan Stanley, RBC, and Goldman Sachs were 2021's worst bankers of LNG, a sector that is looking to banks to help push through a slate of enormous infrastructure projects. Big banks funneled $52.9 billion into offshore oil and gas last year, with U.S. banks Citi and JPMorgan Chase providing the most in 2021. Coal mining financing is led by the Chinese banks, with China Everbright Bank and China CITIC Bank as the worst in 2021. Big banks overall provided $17.4 billion to the sector last year.
In the next two months, all six Wall Street banks are expected to face shareholder resolutions calling on them to stop financing fossil fuel expansion and otherwise truly align their business practices with limiting global warming to 1.5degC.
David Tong, Global Industry Campaign Manager at Oil Change International, said:
"It is past time to stop financing fossils. Oil, gas, and coal companies will not manage their own decline. The simple reality is that the fundamental arithmetic of 1.5oC requires oil and gas production to decline by at least 3-4% per year, starting now. But no major oil and gas company has committed to ending expansion, and banks around the world continue to pour billions into fossil fuels. That must stop now. If the banks' responses to the climate crisis are to be taken seriously, they must commit to ending finance for fossil fuels."
Maaike Beenes, Campaign lead Banks and Climate at BankTrack, said:
"Climate science has made it inescapably clear that there can be no expansion of fossil fuels if we are to limit global warming to 1.5? C. But banks have continued to fund companies planning to open up new fossil fuel frontiers, including by financing disastrous projects like the East African Crude Oil Pipeline, expansion of fracking in Argentina's Vaca Muerta and the expansion of the Trans Mountain tar sands pipeline. Any serious 'Net Zero by 2050' commitment must also mean excluding all fossil fuel expansion projects and companies from financing."
Mea Johnson, Divestment Campaign Coordinator, Indigenous Environmental Network, said:
"These banks are funding climate chaos by financing fossil fuel extraction to the tune of $742 billion in 2021 alone. Indigenous peoples have long been leading the fight for the sacredness of the land, water and Earth. Mother Earth has always given us what we need to thrive. We will not back down until our natural balance is restored and anyone helping fund the extractive destruction of our communities will be held accountable."
Alison Kirsch, Research and Policy Manager at Rainforest Action Network, said:
"Any further expansion of fossil fuels risks locking humanity into generations of climate catastrophe, yet the top fossil clients of the world's largest banks are still being showered with tens of billions of dollars even as they actively expand drilling, mining, fracking and other fossil fuel development unabated. With Wall Street banks leading the charge, these financial institutions are directly complicit in undermining a climate stable future for us all and must immediately end their support of any further fossil fuel infrastructure expansion."
Lucie Pinson, Director at Reclaim Finance, said:
"The data is clear: despite their net zero pledges and restrictions on fossil fuel financing, French banks BNP Paribas, Credit Agricole, Societe Generale and Natixis are still massively supporting oil and gas expansion, at odds with what climate science requires. No surprises there: as recently revealed by the Oil and Gas Policy Tracker, the many flaws in their oil and gas policies enable the banks to support major expansionists such as Gazprom, TotalEnergies, Saudi Aramco and BP despite their toxic fossil fuel plans. The war on Ukraine is another stark reminder that oil and gas are at the root of both war and climate change. It's high time banks close the policy gaps and turn off the taps."
Adele Shraiman, campaign representative for the Sierra Club's Fossil-Free Finance campaign, said:
"Despite their splashy climate pledges, big banks have largely continued with business-as-usual and actually increased their overall fossil fuel financing since the Paris Agreement. This report makes it clear that banks must clean up their act and stop funding the expansion of dirty fossil fuel projects like fracked gas exports, tar sands pipelines, and offshore drilling in order to align with what the science demands and what their own commitments require. As we look ahead to shareholder season, we'll be keeping up the pressure on the banks and their investors to take these critical reforms seriously and stop bankrolling the fossil fuel industry's reckless expansion plans."
Katrin Ganswindt, Head of Finance Research at Urgewald, said:
"On top of unleashing climate chaos around the globe, our continued reliance on fossil fuels is propping up some of the world's most heinous political regimes. Russia is waging a brutal war on Ukraine where it treats civilians as legitimate military targets. Saudi Arabia still maintains its violent stranglehold on Yemen, and at home, it put 81 men to death by beheading in a single day. Yet the rest of the world turns a blind eye and keeps sending such oppressive regimes bloody fossil fuel checks. We desperately need to direct global financial flows away from destructive fossil fuels and the cruel and corrupt governments that weaponize them against our environment and ourselves."
Rainforest Action Network (RAN) is headquartered in San Francisco, California with offices staff in Tokyo, Japan, and Edmonton, Canada, plus thousands of volunteer scientists, teachers, parents, students and other concerned citizens around the world. We believe that a sustainable world can be created in our lifetime and that aggressive action must be taken immediately to leave a safe and secure world for our children.
Oil Change International is a research, communications, and advocacy organization focused on exposing the true costs of fossil fuels and facilitating the ongoing transition to clean energy.
(202) 518-9029LATEST NEWS
Supreme Court OKs Trump 'Third Country' Deportation of Men Held in Desert Shipping Container
Justice Sonia Sotomayor warned in a dissent to a previous ruling on the case that the decision exposes "thousands to the risk of torture or death."
Jul 03, 2025
The Supreme Court on Thursday cleared the way for the Trump administration to send eight men deported from the United States and currently in limbo on a U.S. military base in Djibouti to South Sudan, where only one of the deportees is from, under a policy of fast-tracking deportations to third countries.
In an apparent 7-2 unsigned decision, with liberal Justices Sonia Sotomayor and Ketanji Brown Jackson dissenting, the high court lifted an order from U.S. District Judge Brian Murphy blocking the deportation of the men—who are originally from Cuba, Laos, Mexico, Myanmar, South Korea, South Sudan, and Vietnam—to war-torn South Sudan, one of the world's most dangerous countries.
NEW: The U.S. Supreme Court allows the Trump administration to send people subject to deportation to countries they have no connection with that are so dangerous the Trump administration advises Americans not to travel there. The case involves eight men the Trump regime wants to send to South Sudan.
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— Chris Geidner (@chrisgeidner.bsky.social) July 3, 2025 at 2:29 PM
The men, who have all been convicted of serious crimes in the United States, have been detained for six weeks at Camp Lemonnier, a U.S. base in the Horn of Africa nation of Djibouti. They have been nearly constantly shackled and are under constant guard in a shipping container. The container reportedly is equipped with air conditioning.
Neither the United States nor South Sudan has explained what will happen to the men upon their arrival in the East African nation.
Last month, the Supreme Court temporarily lifted Murphy's preliminary injunction, which had enabled migrants to file claims of persecution before their deportation to counties where they have no ties in a highly controversial process called third-country removal.
Dissenting in that ruling, Sotomayor wrote that the ruling exposes "thousands to the risk of torture or death."
The administration then accused Murphy of defying the high court's ruling by insisting that the eight men still could not be sent to South Sudan and asked the justices for the clarification that came with Thursday's decision.
"They're now subject to imminent deportation to war torn South Sudan, a place where they have no ties and where it is possible, if not probable, that they will be arrested and detained upon arrival," Trina Realmuto, an attorney for the men, told Politico Thursday. "This ruling is condoning lawlessness."
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Outrage Pours in After House GOP Approves 'One of the Most Catastrophic Bills Passed in Modern History'
Democratic Rep. Ilhan Omar called the Republican budget package "one of the most cruel, immoral pieces of legislation that Congress has ever voted on."
Jul 03, 2025
House Republicans on Thursday put the final stamp of approval on budget legislation that will inflict devastating cuts on Medicaid, federal nutrition assistance, clean energy initiatives, and other programs to help finance another round of tax breaks for the rich—an unparalleled upward transfer of wealth that's expected to have cascading effects across the United States for years to come.
The sprawling legislation passed in a mostly party-line vote, with just two House Republicans—Reps. Brian Fitzpatrick (R-Pa.) and Thomas Massie (R-Ky.)—joining every Democrat in opposition to the bill, which now heads to President Donald Trump's desk.
Following the 218-214 vote, Rep. Ilhan Omar (D-Minn.) called the reconciliation package "one of the most cruel, immoral pieces of legislation that Congress has ever voted on."
"Not only did this bill get worse from the last time the House voted on it, it will be remembered as one of the most catastrophic bills passed in modern history," said Omar.
The following is a sample of reactions from lawmakers and advocacy groups decrying the legislation's attacks on healthcare, the Supplemental Nutrition Assistance Program, reproductive rights, the climate, and more.
A Tax Giveaway to the Ultra-Rich and Corporations at the Expense of Working People
People take part in a protest against the Republican tax bill in Los Angeles, California on December 4, 2017. Democrats and many economists warn that the GOP tax plan gives large tax cuts to corporations and the wealthy and will hurt middle class families. (Photo by Ronen Tivony/NurPhoto via Getty Images)
April Verrett, president of SEIU:
What the Republicans just did. It's outrageous, it's despicable, it's immoral, itss anti-American. But SEIU members won't forget. We will never forget that children will go hungry because of what they've done.
We will never forget that people will suffer because of what they've done. And why? For the biggest steal of taxpayer money, of working people’s money – not just poor people, but senior citizens. Every American will feel the repercussions of this horrible bill, but we won't forget and we will get our just due.
Joseph Geevarghese, executive director of Our Revolution:
"Republicans have passed the most dangerous legislation of our lifetimes. This bill hands billionaires and corporations a trillion-dollar tax break, paid for by ripping health care from 17 million people, gutting funding for rural hospitals, slashing clean energy investments, and cutting food assistance for millions of children.
"This reckless sellout to the billionaire class will trigger the largest transfer of wealth from working- and middle-class Americans to the ultra-wealthy in our nation’s history. This isn't just bad policy — it's a moral failure that will cost an untold number of lives. Every lawmaker who voted for this shameful legislation must be held accountable at the ballot box."
Robert Weissman, co-president of Public Citizen:
"Trump and Congressional Republicans have certainly delivered for the billionaire class.
"There are 800 billionaires in the United States and 12 100-billionaires. They don’t need any financial help. But that’s precisely what Trump and Congressional Republicans have done, with a monstrosity of a bill that may constitute the single biggest upward transfer of wealth in American history."
Amy Hanauer, executive director of the Institute on Taxation and Economic Policy:
This abominable bill will make history—in appalling ways. Never before has legislation taken so much from struggling families to give so much to the richest. It makes the biggest cuts to food aid for hungry families, executes the largest cuts to health care ever, adds trillions to the national debt – all to give $117 billion to the richest 1 percent in a single year. It’s no wonder that this bill is also extremely unpopular. Historians – and voters – will look back at this as a dark day in U.S. history.
David Kass, executive director of Americans for Tax Fairness:
This bill represents a massive transfer of wealth from the working class to the top 1%. It enacts the largest Medicaid and SNAP cuts in history while adding over $3 trillion to the national debt. Furthermore it makes the tax code more complex with new special interest tax breaks and handouts to the ultra wealthy. In the coming years, Democrats must prioritize repealing and replacing these disastrous policies to protect American families from rising costs and loss of healthcare coverage. We need to create a truly fair tax system and an economy that works for all Americans, not just the wealthy few.
A Historic Blow to Medicaid, SNAP, Social Security, and other Anti-Poverty Programs
Care workers with the Service Employees International Union (SEIU) participate in a living cemetery protest to denounce the impact to patients, families and workers if Republicans cut Medicaid, healthcare and SNAP to pay for tax cuts for the wealthy at the US Capitol June 23, 2025 in Washington, DC. (Photo by Tasos Katopodis/Getty Images for SEIU)
Bishop William Barber, co-founder Repairers of the Breach:
Today, Congress passed one of the most morally-bankrupt pieces of legislation in our nation’s history. This big ugly bill is the largest cut to healthcare and food assistance for children in our nation’s history, and it funds a war on immigrant communities. All the while, the bill gives tax breaks to the wealthiest among us—on the backs of our most vulnerable neighbors.
By passing this bill, lawmakers have officially codified the deaths of thousands of people. It’s policy murder in plain sight.”
Many of the people who passed this bill also consistently profess to be led by religious values. There is no religion that supports the degradation of humans. Policymakers can’t just claim their religious values in one breath, and then turn around and approve legislation that’s guaranteed to kill people.
The passage of this bill is deadly, but it is not a defeat. We must meet it with a resurrection. We will organize voters in every impacted community to push legislators who voted for this bill out of office and build a movement together that can reconstruct our democracy.
Americans for Tax Fairness:
Today, President Trump and his billionaire-backed Republican-controlled Congress successfully passed their reconciliation bill, passing the largest cuts in Medicaid and SNAP history while slashing billions from other essential programs to fund massive tax giveaways for billionaires and large corporations. The bill will raise average Americans’ costs by causing 17 million Americans to lose their health insurance and 2 million to lose access to food assistance. Throughout the opaque legislative process, the Republican majority in both houses didn’t hold a single hearing on their legislative proposals, and forced their members to vote under the cover of night and during weekend sessions, reflecting the GOP majority’s pattern of minimizing public attention to a wildly unpopular legislative package.Richard Fiesta, executive director of the Alliance for Retired Americans:
Today, the House turned its back on the very people they were elected to serve. This bill isn't about lowering prices or helping everyday Americans — it’s about lining the pockets of billionaires and big corporations while ripping away essential health care and support from seniors, people with disabilities, and working families.
Congressional Republicans have just voted for tax giveaways for the wealthy while throwing millions of people off of Medicaid, slashing half a trillion dollars from Medicare, and driving hundreds of nursing homes and local hospitals into crisis. All of this will make it harder for older Americans to get the health care they need at a price they can afford.
To add insult to injury, this bill hastens the depletion of the Social Security Trust Fund's reserves by one year. It's a slap in the face to every family who paid into Social Security and Medicare over a lifetime of work.
We will not forget how our representatives voted today. We will make sure every older American knows what is in this legislation — and who to hold accountable for this debacle.
Tony Carrk, executive director of Accountable.US:
Today's party-line vote by House Republicans to rip healthcare away and raise grocery costs for tens of millions of Americans is as devastating as it is enraging. For months, a decisive number of House Republicans voiced their concerns, acknowledging that this bill would make people poorer and sicker, only to vote in favor of this bill. It’s a cruel betrayal and proof positive you cannot trust career politicians who will put their interests over those of their own constituents' health care and wallets.
Bobby Mukkamala, M.D., president of the American Medical Association (AMA):
Today is a sad and unnecessarily harmful day for patients and health care across the country, and its impact will reverberate for years. Care will be less accessible, and patients may simply forego seeing their physician because the lifelines of Medicaid and CHIP are severed.
This is bad for my patients in Flint, Michigan, and it is devastating for the estimated 11.8 million people who will have no health insurance coverage as a result of this bill.
The American Medical Association’s mission is promoting the art and science of medicine and the betterment of public health. This bill moves us in the wrong direction. It will make it harder to access care and make patients sicker. It will make it more likely that acute, treatable illnesses will turn into life-threatening or costly chronic conditions. That is disappointing, maddening, and unacceptable.
Max Richtman, president & CEO of the National Committee to Preserve Social Security and Medicare:
In enacting President Trump’s ‘Unfair, Ugly Bill,’ House Republicans have voted to rip health coverage away from as many as 16 million Americans and food assistance from millions more. Make no mistake, the deepest cuts in history to Medicaid and SNAP will devastate older Americans who depend on both programs for health coverage, long-term care, and nutrition. 7.2 million seniors are dually enrolled in Medicare and Medicaid; 6.5 million rely on SNAP benefits to stay healthy and make ends meet. The bill could even trigger automatic cuts to Medicare down the road.
These beneficiaries are some of the most vulnerable members of our society — and Republicans have put them at risk in order to pay for another tax cut mainly for the rich. Republicans have passed this mean-spirited legislation with little regard for public opinion or well-being. Recent polling suggests that Americans who know about the bill are against it 2 to 1. No matter. Republicans are enacting a craven agenda to shower their wealthy donors with tax cuts at the expense of seniors and lower-income Americans.
This bill has rightly been called ‘downright regressive and cruel’ — and ‘the largest transfer of wealth from the poor to the rich in U.S. history.’ President Trump was planning to sign the bill on July 4th. We can’t think of anything LESS patriotic than depriving millions of Americans of health coverage to further enrich the already wealthy. This is not responsible leadership. It’s just the opposite. Make no mistake: older Americans and their advocates WILL NOT FORGET. Republicans will be held accountable — now and during the 2026 elections. If our response were boiled down to one word, it simply would be SHAME!
National Nurses United:
This is among the darkest days in the history of U.S. health care. People will suffer and die because of the cuts in this legislation to fund tax cuts for billionaires — certainly in the short term and potentially for decades to come if nothing is done. The policy goal here is clear: Take away everyday people’s health care coverage. Every politician who supports this legislation has blood on their hands and only themselves to blame when the impacts of these cuts devastate a health care system already in a near-constant state of crisis. These cuts will hurt these lawmakers’ constituents, our patients, who are already dealing with a broken health care system.
Lawmakers have effectively signed the death warrants for millions today. It will steal money from safety-net community hospitals and reproductive health care clinics, like Planned Parenthood. It will kick people off their health insurance. It will effectively punish people for getting sick or injured, making us all sicker and less healthy.
While we will only understand the larger impacts of this law as they unfold, experts have made clear that the potential is devastating: Millions will lose insurance coverage, and hundreds of hospitals will see critical hits to their funding. Meanwhile, the rich will get richer.
A Gut Punch to Environmental Protections, Clean Energy, and the Effort to Confront the Climate Crisis
Protestors hold up a sign reading "Trump Climate Disaster" as they demonstrate during a rally opposing the inauguration of the 47th US President Donald Trump, outside Downing Street on January 20, 2025 in London, England. (Photo by Leon Neal/Getty Images)
Beth Lowell, Oceana vice president for the United States:
“Thriving and abundant oceans should not be bargaining chips at the Congressional table. This big, terrible bill is the worst environmental legislation in American history, unraveling safeguards and investments that Americans — and coastal economies — rely on and need. This disastrous bill would require the largest expansion of offshore oil and gas lease sales by area ever in the United States. We should be protecting our coasts and oceans, not opening the floodgates to more offshore drilling and increasing the risk of dangerous oil spills.”
Manish Bapna, president of NRDC (Natural Resources Defense Council):
Every lawmaker who voted for this cynical measure chose tax cuts for the wealthiest over Americans' health, pocketbooks, public lands and waters -- and a safe climate. They should be ashamed.
This measure gives the wealthiest a tax break while the rest of us will pay more on our electric bills and at the pump. So much for President Trump's promise to save Americans money on their energy bills.
This Trump energy tax will cost electricity customers billions of dollars in higher bills. Drivers will need to fill up more often at the pump. And costs for things like cleaner cars, solar energy and efficient air conditioners will skyrocket.
We urgently need more clean, affordable energy, but this measure would bring the renaissance in American clean energy production to a halt and send good, domestic manufacturing jobs to our foreign rivals.
Oil executives, industrial loggers and coal CEOs can all celebrate today as they gain unprecedented access to drill, log and mine on our public lands. The rest of us will soon find no trespassing signs on lands that have belonged to all of us for more than a century.
John Noël, Greenpeace USA deputy climate program director:
This is a vote that will live in infamy. This bill is what happens when a major political party, in the grips of a personality cult, teams up with oil company CEOs, hedge fund donors, and climate deniers. All you need to do is look at who benefits from actively undercutting the clean energy industry that is creating tens of thousands of jobs across political geographies.
The megabill isn’t about reform—it's about rewarding the super rich and doling out fossil fuel industry handouts, all while dismantling the social safety nets on which millions depend for stability. It is a bet against the future.
Ben Jealous, executive director of the Sierra Club:
"This is a sad and scary day for all who work to build up our communities, care for our friends and neighbors, and wish to leave this planet in a better place for future generations. Instead of working to make life better for American families and communities, what Donald Trump and his loyalists in Congress have delivered today will mean higher energy costs for working families and small businesses, the end of life-saving health care that millions rely on, and ceding the race to build the clean energy economy of tomorrow to China. Trump and Congressional Republicans have advanced the most anti-environment, anti-job, and anti-American bill in history. The Sierra Club will not forget it. America will not forget it.
Gretchen Goldman, president of the Union of Concerned Scientists:
Our country will be paying the price for these reckless policies for decades to come.
In passing this bill, lawmakers repeatedly overrode the needs and interests of their constituents. When benefits are lost, when energy prices spike, when major clean energy and clean transportation investments are canceled, when jobs are cut, when climate-exacerbated extreme weather disasters hit, people should know who they have to thank.
This bill is a damning indictment of Congress' priorities and values. Our country needs policymakers willing to confront the challenges of our time and fight for a better tomorrow, not sell out America for the benefit of a few.
An Assault on Reproductive Freedom and Health
Women hold signs during a protest against recently passed abortion ban bills at the Georgia State Capitol building, on May 21, 2019 in Atlanta, Georgia. (Photo by Elijah Nouvelage/Getty Images)
Kelly Baden, vice president for public policy at the Guttmacher Institute:
The reconciliation bill is a sweeping attack on the health, rights and autonomy of millions of people across the country. It would strip health coverage from those who need it most, gut access to reproductive health care, and impose dangerous restrictions that disproportionately harm low-income communities, people of color, and those already facing systemic barriers to care."
One of the most egregious provisions in the bill would block Planned Parenthood and other providers of abortion care from receiving Medicaid reimbursement for contraceptive services and other care for an entire year. This politically motivated exclusion could force one in three Planned Parenthood health centers to close their doors, cutting off access to contraception, STI testing and treatment, cancer screenings and abortion care for countless patients. These are not just numbers—these are real people whose lives and futures are being put at risk.
On top of that, the bill’s broader Medicaid cuts represent a direct attack on the health and economic security of people with low incomes. Medicaid is not a luxury—it’s a lifeline. It ensures access to essential care, including sexual and reproductive health services, for millions of people. Slashing this program to finance tax cuts for the wealthy is not just wrong—it’s cruel.
Let’s be clear: this bill is about advancing an extreme ideological agenda that prioritizes control over compassion, and politics over public health.
Alexis McGill Johnson, president and CEO of Planned Parenthood Federation of America:
The reconciliation bill is a targeted attack on Planned Parenthood health centers and patients that cannot stand. Everyone deserves access to high-quality, affordable health care. That’s what we’ve been fighting for the last century — and we’ll never stop. We’ll be suing the Trump administration to stop this unlawful attack. See you in court.
Dr. Jamila Perritt, Physicians for Reproductive Health president and CEO:
Federal programs like Medicaid, CHIP, SNAP, as well as funding for full spectrum sexual and reproductive health care are all left at the mercy of cowardly, out of touch lawmakers who value junk science over the evidence-based practices that keep our communities safe. Limitations on these essential programs will have horrible consequences for tens of millions of people and for our entire health care landscape. In contrast of its name, this bill is one of the ugliest actions we have seen from the Trump Administration to date.
Only six months into a second Trump term, we have seen Title X funding be stripped away, the continued criminalization of those seeking lifesaving health care like abortion, as well as politically motivated attacks on those in support of full spectrum sexual and reproductive health care. This is not a coincidence – it is intentional. This is not, nor has it ever been acceptable.
Progressive Lawmakers Weigh In
Rep. Ilhan Omar (D-MN) speaks during the Hands Off! day of action against the Trump administration and Elon Musk on April 05, 2025 in Washington, DC. (Photo by Paul Morigi/Getty Images for Community Change Action)
Rep. Ilhan Omar (D-Minn.):
Because my Republican colleagues cowered to special interests and their billionaire donors, 17 million Americans will lose their health coverage. This passage could cause 50,000 Americans to die each year because Republicans shamefully voted to kick millions off Medicaid and failed to extend the premium tax credits in the Affordable Care Act. It will also increase healthcare costs and endanger access to care for all Americans. Rural hospitals will be forced to shut down. Nursing homes and community health centers will be gravely impacted.
This bill is the biggest transfer of wealth from the poor to the rich in history. While working people will be devastated, billionaires will receive massive tax cuts. Not only are the tax cuts permanent for the ultra-wealthy, any benefit to low-income families is only temporary. It will deepen the wealth and income inequality gap.
In poll after poll, the American people are clear in their disdain for this bill. From cuts to nutrition assistance to increasing the cost of college to higher utility bills – the American people are clear-eyed in opposing it. Donald Trump and Republicans know this, which is why they rammed this bill through. Every single American will remember who chose to side with billionaires instead of working people.
This bill is morally bankrupt and an attack on working people. For those reasons, I voted NO.”
Congressional Progressive Caucus Chair Greg Casar (D-Texas):
"This bill is a betrayal of working Americans. So that billionaires can buy bigger yachts, millions of working people will be unable to afford to go to the doctor, put food on the table, or keep the lights on.
For years, Washington Republicans have talked a big game about becoming the party of working people. This vote should be the final nail in the coffin of that idea. In the end, Washington Republicans will simply betray the working class people they won over in the last election. They've done what they always do: take from the working class to give to the rich.
As Democrats, we must make sure they never live that down."
Rep. Rashida Tlaib (D-Mich.):
"This bill is an act of violence against our communities. At a time of extreme income and wealth inequality, while 60% of Americans are living paycheck to paycheck, this budget is absolutely devastating for the working families we represent."
Rep. Summer Lee (D-Pa.):
"Republicans just passed one of the most harmful bills in modern history that will devastate our communities for years to come."
Sen. Elizabeth Warren (D-Mass.):
"Republicans in the House just cheered as they voted to kick 17 million people off their healthcare."
Rep. Alexandria Ocasio-Cortez (D-N.Y.):
"I don't think anyone is prepared for what they just did w/ICE. This is not a simple budget increase. It is an explosion—making ICE bigger than the FBI, U.S. Bureau of Prisons, DEA, and others combined. It is setting up to make what’s happening now look like child's play. And people are disappearing."
Rep. Ayanna Pressley (D-Mass.):
"Republicans have passed a bill that will be a death sentence—denying millions medical care, denying children food, and violently deporting immigrant families to destabilized countries. This is unforgivable."
Rep. Pramila Jayapal (D-Wash.):
"Republicans passed Trump's Big Bad Betrayal Bill to kick 17 million Americans off their healthcare for a billionaire tax cut. Cruel, horrifying, and outrageous. But we must not lose hope. Democrats will not only fight back—we'll fight forward, press on, and justice will be won."
Rep. Becca Ballint (D-Vt.):
"The House shamefully passed Trump’s big ugly, horrific, terrible bill that will leave 17 million people without health insurance. I, like every Democrat, voted HELL NO. People are going to suffer. I'm horrified that Congress would pass such a harmful piece of legislation."
"I never want to hear a Republican say they care about 'fiscal responsibility' ever again. This bill is the largest increase in our national debt in history."
Rep. Maxwell Alejandro Frost (D-Fla.):
House Republicans just passed Trump's evil, Big Ugly Budget. They caved, voting to take health care away from 17 million people, slash food aid, and rob the poor to reward the ultrarich. It's the largest transfer of wealth from the working class to billionaires in history. This is a dark day in America and a shameful betrayal to those we serve. Our people deserve better and I will always fight like hell to get it. The fight continues.
Turbo-charging Trump's Mass Deportation Machine and Anti-Immigrant Agenda
California National Guard stands guard as protesters clash with law enforcement in downtown Los Angeles at the Metropolitan Detention Center due to the immigration raids roil L.A. on Sunday, June 8, 2025 in Los Angeles, CA. (Jason Armond / Los Angeles Times via Getty Images)
Joanna Kuebler, chief of programs at America’s Voice:
Americans are already recoiling against the harm done by this administration's deportation agenda—the masked ICE agents running amok; the industries and small businesses worried about their future viability; the fear spreading in American communities and the separations tearing apart American families.
Sadly, we fear it will get all the worse with the new and unprecedented infusion of tens of billions of dollars for Stephen Miller to fully scale the personal mass deportation crusade he’s dreamed about since his teenage years. Earlier this week, Vice President JD Vance admitted that slashing Medicaid, the tax cuts for the wealthiest Americans, the fiscal recklessness and all of the other unpopular and damaging provisions of this bill were 'immaterial' compared to the ICE and immigration enforcement money.
Yet Stephen Miller's and MAGA's dreams are most Americans' nightmares. Turbocharging mass deportation endangers our economy, our families, our communities, and our history as a nation of immigrants.
Roots Action:
The expansion of fascism is here:
- $74.9 billion for ICE detention and removal
- $65.6 billion for CBP infrastructure, hiring, tech
- $10 billion DHS slush fund
- $3.5 billion for state enforcementAnd more!
Hamilton Nolan, independent journalist :
This bill contains enough money to build a new system of immigration detention centers far bigger than the entire federal prison system. The American Immigration Council says that it will be enough to facilitate the “daily detention of at least 116,000 non-citizens.” It will let ICE hire more field agents than the FBI. Its $170 billion in funding for Stephen Miller’s rabid campaign to purge America of brown people is comparable to the total annual funding for the United States Army.
Donald Trump envisions himself as an all-powerful leader whose will is equal to law. He is bent on revenge against his political enemies. He has installed extreme loyalists in the Justice Department, the FBI, the Defense Department, the Department of Homeland Security, and all other security departments. The courts have declined to meaningfully restrain his abuses of these departments. This budget will give him the final piece of the puzzle that he needs to achieve his fever dream: a nationwide army of masked, unaccountable armed agents empowered to snatch anyone they like off the streets, and the physical infrastructure to imprison or deport those people at will. Thousands of men with guns, unrestrained by judges or local police, who do not answer to Congress, who point guns at the press, who arrest whoever they want, for reasons they do not share, and do whatever they wish with those people. The implications of this are going to make America a much darker place.
Aaron Reichlin-Melnick, American Immigration Council senior fellow:
With this vote, Congress makes ICE the highest-funded federal law enforcement agency in history, with more money per year at its disposal over the next four years than the budgets of the FBI, DEA, ATF, U.S. Marshals, and Bureau of Prisons combined.
Astra Taylor, author and Strike Debt co-founder:
The debt, deportation, and death bill has passed. Congress further decimates care work to fund violence work. ICE becomes the highest-funded federal law enforcement agency ever known. It hasn’t been sold this way, but it’s a massive public jobs program for fascists.
Uzra Zeya, CEO of Human Rights First:
“As millions of Americans lose access to health insurance, this bill forks over more than $150 billion to supercharge the policies of grave harm we've seen these past six months. It will fund more disappearances of people seeking asylum in our country, more masked agents in our courtrooms and neighborhoods to detain and manhandle those following the rules to be here, and more prisons where families, including infants, can now be incarcerated indefinitely due to this Big, Ugly, Betrayal of a bill."
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'Evil and Cruel': GOP Lawmaker Shamed for Unloading Medicaid-Related Stock Before Voting to Gut Program
"Their bill will gut Medicaid and kill people, and they know it," said Rep. Delia Ramirez (D-Ill.).
Jul 03, 2025
Republican Congressman Robert Bresnahan of Pennsylvania got publicly shamed by many of his congressional colleagues on Thursday after it was revealed he unloaded a Medicaid-related stock before voting for a massive budget package that enacted historically devastating cuts to the program.
Quiver Quantitative, an investment data platform that tracks stock trades made by politicians and other prominent public figures, revealed on its X account that Bresnahan recently sold shares he'd owned in Centene Corporation, a for-profit firm that specializes in delivering healthcare exchanges for Medicaid. In the weeks since he sold his shares in the company, their value plunged by more than 40 percent.
Quiver Quantitative added that while Bresnahan claims not to manage his own stock portfolio, he does not appear to have set up a qualified blind trust that would eliminate potential conflicts of interest between his investments and his work as a member of Congress.
Regardless, many of Bresnahan's Democratic colleagues reacted with fury and disgust to revelations that the Centene shares were dropped before he voted for a bill that will slash more than $1 trillion from Medicaid and the Children's Health Insurance Program (CHIP) over the span of a decade.
"This Congressman literally dumped stock in a Medicaid provider company right before this bill came to the floor," wrote Rep. Melanie Stansbury (D-N.M.) on X. "Don't be fooled—these guys know exactly what they're doing."
"Wow," marveled Rep. Maxwell Frost (D-Fla.). "So he votes to gut Medicaid and throw 17 million people off of their healthcare and then dumps his Medicaid related stock to cover his own ass? That's just evil and cruel."
"If the Big Ugly Nasty Bill doesn't hurt Medicaid, why are Republicans selling their Medicaid-associated stocks?" asked Rep. Delia Ramirez (D-Ill.). "Their words say one thing, their actions another. Their bill will gut Medicaid and kill people, and they know it."
Sen. Elizabeth Warren (D-Mass.) ripped Bresnahan for "protecting his stock portfolio while ripping away health care from 17 million Americans" with his vote to gut Medicaid.
"This is Washington at its worst," she added. "We need to ban Congressional stock trading."
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