Bernie Sanders rolls out ‘Stop WALMART Act’ that would block stock buybacks until retailer raises pay

MarketWatch | 11/15/2018 | Victor Reklaitis
Mkgirlz (Posted by) Level 3
Click For Photo: http://s.marketwatch.com/public/resources/MWimages/MW-FU160_sander_ZG_20170912195645.jpg

After his Stop BEZOS Act appeared to help spur Amazon to raise pay for its workers, Sen. Bernie Sanders launched a similar effort Thursday that targets Walmart.

The Stop WALMART Act — introduced by both the Vermont independent and Rep. Ro Khanna, a California Democrat — would block big employers from buying back stock unless they pay all employees $15 an hour. Companies also would have to ensure that their CEO’s compensation is capped at no more than 150 times the median pay of all workers, as well as allow their employees to earn up to seven days of paid sick leave.

Name - Legislation - Stop - Welfare - Any

The full name for the legislation is the Stop Welfare for Any Large Monopoly Amassing Revenue from Taxpayers Act. It defines big employers as those with more than 500 workers.

“The time is long overdue for the Walton family to pay its workers a living wage,” Sanders said in a statement, referring to the family that owns about half of the retail giant. “If large, profitable corporations...
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