Mr. Pocan (for himself, Ms. Jayapal, Mr. Landsman, Mr. García of Illinois, Ms. Norton, Ms. Ocasio-Cortez, Ms. Omar, Mrs. Ramirez, and Ms. Tlaib) introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services, the Judiciary, and Education and Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned Bill Number H.R. 10595 Bill Version Introduced in House (IH) Short Title Stop Wall Street Looting Act Full Title To subject certain private funds to joint and several liability with respect to the liabilities of firms acquired and controlled by those funds, and for other purposes.
Subject certain private funds to joint and several liability for the liabilities of firms they acquire and control.
Occurrences
Evidence
verified · Source version 81048 · locator 2065
Cosponsors Pramila Jayapal (WA); Greg Landsman (OH); Eleanor Holmes Norton (DC); Alexandria Ocasio-Cortez (NY)
verified · Source version 81059 · locator 1986
make private equity firms responsible for the debts of the companies they control
unverified · Source version 81061 · locator unknown
shall be jointly and severally liable for all liabilities of each target firm
verified · Source version 81063 · locator 9685
to the Committee on Finance.
Assessments
The verified commitment is an outcome promise: subject certain private funds to joint and several liability for liabilities of acquired and controlled firms. Verified evidence shows Ocasio-Cortez was a cosponsor of H.R. 10595 and that the legislation was introduced/reintroduced with the stated policy aim, but the verified passages show referral to committees rather than enactment. Because introduction or cosponsorship does not fulfill an outcome promise to make the liability rule law, and no deadline has expired, the outcome remains unresolved. Her cosponsorship supports attributable effort.