On any given day, Groundwork's analyses, op-eds, reports, and commentary are featured in leading publications and on the most influential news programs and podcasts.
New American Prospect issue, “How Pricing Really Works,” dives into the corporate pricing strategies that are pushing up costs for consumers with algorithms, personalized pricing, and more.
“The Department of Justice should investigate and prosecute price fixing and collusion across the fossil fuel industry, and Congress should tax back the industry’s windfalls and give families a refund.”
Today, the Bureau of Economic Analysis (BEA) released new data showing that corporate profits ticked down slightly, but remain historically high. “Corporate profits remain historically high, and it's undeniable that corporations have scored sky-high profits by hiking their prices and squeezing already vulnerable families. When the Trump tax law expires next year, we must ensure corporations pay back what they gained through profiteering by putting corporate tax increases firmly on the table." Groundwork’s Director of Policy and Research Bilal Baydoun reacts.
“Corporations could have been cutting prices and passing their cost savings onto consumers months ago. Instead, they chose to keep their winnings at the expense of families whose budgets have been squeezed by their profiteering. It’s about time corporations lower prices, and there is more room for them to fall.”
“It’s really clear when you start looking at industry and corporate firm-level data … that companies are really expanding their margins during a period when their own costs are rising,” Owens said. “What you see is that’s effectively made possible by companies who are passing along their rising costs in full but then going for more.”
Today at 2:30 pm, Groundwork Collaborative’s Executive Director Lindsay Owens will testify before the Senate Banking Subcommittee on Economic Policy at a hearing titled, “Protecting Consumers’ Pocketbooks: Lowering Food Prices and Combatting Corporate Price Gouging and Consolidation.”
The groups behind the letter include the AFL-CIO, the National Education Association, Service Employees International Union and United Auto Workers as well as left-leaning think tanks such as the Center for American Progress, Center on Budget and Policy Priorities, the Economic Policy Institute and the Groundwork Collaborative.
Nearly seven years after the passage of the Tax Cuts and Jobs Act (TCJA), said the coalition led by Groundwork Collaborative, the law has been proven to be "a failure on its own terms," with the average worker seeing none of the financial benefits promised by Republican Party and former President Donald Trump, who is running for the White House again.
More than 100 groups, including labor unions and a range of progressive advocacy organizations, are making it clear that they want to send the tax code in a whole other direction during next year’s discussions. Those organizations are writing to congressional leaders and top tax writers today, arguing that the GOP’s 2017 tax law merely further entrenched what was already a problematic U.S. tax system.
Top U.S. labor unions are saying they’ve had enough of the Trump tax cuts and want them repealed. Unions including the United Auto Workers, the AFL-CIO, the Service Employees International Union, the Screen Actors Guild and the National Education Association joined dozens of progressive groups in sending a letter to congressional leaders Tuesday that blasted the Trump cuts as unfairly designed and fiscally irresponsible.