Stock buyback programs have become all too commonplace in our economy these days; companies such as Boeing, Abbott and Bed Bath & Beyond are prime examples of how corporate insiders can and do manipulate the market in the short-term to enrich themselves, while under-investing in the company’s operations – often with deadly consequences.

That’s why stock buybacks for the purpose of raising stock prices were functionally illegal from the Great Depression up until 1982, when Reagan regulators gave corporate executives freedom to engage in this manipulative practice.

When a company sinks money into buying back its own shares, those resources are NOT going to be invested in safety, workers, or upgrading products and services to stay competitive.

That’s a huge problem.

To help fix these perverse incentives, Rep. Chuy García has now re-introduced the Reward Work Act, which bans stock buybacks on the open market -- making it harder for companies to manipulate their stock price. It also empowers workers to elect one-third of corporate boards, giving workers more influence over how their employer does business.

Add your name to become a grassroots co-sponsor of the Reward Work Act now!