For Immediate Release: November 15, 2018
Contact Amy Ritter (202) 251-5907
MCAW Endorses the Stop WALMART Act
Washington, D.C. – Making Change at Walmart, (MCAW), issued the following statement endorsing the Stop Welfare for Any Large Monopoly Amassing Revenue from Taxpayers (WALMART) Act introduced today by Senator Bernie Sanders (I-Vt.) and Representative Ro Khanna (D-Calif.).
“We strongly support any elected leaders who are willing to take a stand against Walmart and their self-serving actions that continue to needlessly hurt hundreds of thousands of American workers.
It is incomprehensible that hard-working Walmart workers struggle to make ends meet on low wages and poor benefits while the Walton family signs off on billions of dollars in stock buybacks.
Sadly, it is because of companies like Walmart that America’s income inequality is growing significantly. For the good of the country, this must change.
We hope that the Stop WALMART Act will do what Walmart and the Walton family have never been able to – stand up for America’s Walmart workers in the face of unconscionable greed,” said Amy Ritter, communications director for Making Change at Walmart.
The Stop WALMART Act prohibits large employers from purchasing stock buybacks for shareholders unless they meet basic criteria for workers— a $15 starting wage for all employees, the ability for all employees to earn up to 7 days paid sick leave and limiting CEO compensation to no more than 150 times the median pay of all employees. Sen. Sanders cites the Walton family’s excessive wealth and status as majority shareholders, and therefore owners, of Walmart, along with Walmart’s over $13 billion in profits last year, as reason for the company, i.e. the Walton family, to enact better pay and policies for their workers.
Last month, MCAW issued a conservative analysis highlighting the Walton family’s corporate dividend tax savings over the last 16 years, over $6.5 billion, or roughly $1 million dollars a day in corporate dividend tax savings alone for America’s wealthiest family.