Elizabeth Warren has introduced a bill that would expand food stamps for low-income college students

The mention of “food” and “college students” together might conjure up images of bustling dining halls and late-night snacks. Temple University’s Hope Center for College, Community and Justice surveyed nearly 86,000 college students from 123 schools and found that nearly half are “food insecure.” By adding students who receive Pell Grants and independent students to this list of SNAP eligible students, Warren and Lawson’s bill could expand access to a huge swath of U.S. college students. The Dep


The mention of “food” and “college students” together might conjure up images of bustling dining halls and late-night snacks. Temple University’s Hope Center for College, Community and Justice surveyed nearly 86,000 college students from 123 schools and found that nearly half are “food insecure.” By adding students who receive Pell Grants and independent students to this list of SNAP eligible students, Warren and Lawson’s bill could expand access to a huge swath of U.S. college students. The Dep
Elizabeth Warren has introduced a bill that would expand food stamps for low-income college students Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: abigail hess
Keywords: news, cnbc, companies, qualify, students, education, college, food, pell, warren, elizabeth, stamps, lowincome, bill, introduced, expand, student, snap, receive


Elizabeth Warren has introduced a bill that would expand food stamps for low-income college students

The legislation would also lower SNAP’s current work requirement for college students to 10 hours per-week and require the Department of Education to inform low-income students about their potential SNAP eligibility.

On Wednesday, Senator Elizabeth Warren and Congressman Al Lawson introduced The College Student Hunger Act of 2019 , which would expand SNAP benefits (or “food stamps”) to include Pell Grant-eligible students and “independent students,” such as those who are in foster care, who are veterans or who are homeless.

The mention of “food” and “college students” together might conjure up images of bustling dining halls and late-night snacks.

“As more and more students struggle to pay for college, 30% may be going hungry,” Warren tweeted. “Students shouldn’t have to choose between paying tuition and eating.”

Lawson echoed Warren in a statement. “The significant increase in college tuition over the last decade has forced students to make a choice between buying food or paying for books and housing expenditures. This bill will help to relieve some of that financial burden for them.”

Temple University’s Hope Center for College, Community and Justice surveyed nearly 86,000 college students from 123 schools and found that nearly half are “food insecure.”

The survey found that 45% of respondents often or sometimes worry that they do not have money to buy food, worry that their food will run out before they have the money to buy more or that they can’t afford balanced meals. A 2018 U.S Government Accountability Office report found that there are roughly 2 million college students in the U.S. who qualify for SNAP benefits but do not receive them.

Currently, SNAP eligibility varies from state to state, but most non-disabled college students between the ages of 18 and 49 do not qualify unless they meet requirements beyond traditional measures like income. For instance, some low-income students who have a disability or who are caregivers to a dependent household member can qualify for SNAP.

By adding students who receive Pell Grants and independent students to this list of SNAP eligible students, Warren and Lawson’s bill could expand access to a huge swath of U.S. college students. The Department of Education reports that 32% of undergraduate college students receive Pell Grants, and roughly half of all undergraduate college students are considered independent, meaning they do not receive financial support from their parents.

And a college student’s struggle to afford food can have a significant impact on their education. Today, just 60% of first-time full-time students earn a bachelor’s degree in six years, according to the National Center for Education Statistics. “We can see very strong relationships between these issues and the chance that a student will get good grades so they keep their financial aid, to make it to the next semester, to make it to graduation,” Sara Goldrick-Rab, professor at Temple University, and founder of the Hope Center, told CNBC Make It.

She also says that students who experience food and housing insecurity during college are less likely to excel after graduation, and therefore less likely to keep up with their student loan payments. “If you’ve been food insecure and or homeless for a period of college, the chances that you’re okay and you’re going to be a good employee are much smaller.”

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Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: abigail hess
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Elizabeth Warren attacks the private equity industry with new regulation proposals

Sen. Elizabeth Warren, as well as three other Democratic Presidential hopefuls Sen. Kirsten Gillibrand, Gov. Democratic presidential candidate Elizabeth Warren aimed her campaign of economic populism on Thursday at a new target: the private equity industry. The Massachusetts senator, in tandem with colleagues on Capitol Hill, introduced what she calls the “Stop Wall Street Looting Act.” Specifically, Warren proposes to:Make private equity firms responsible for debts and pension obligations of co


Sen. Elizabeth Warren, as well as three other Democratic Presidential hopefuls Sen. Kirsten Gillibrand, Gov. Democratic presidential candidate Elizabeth Warren aimed her campaign of economic populism on Thursday at a new target: the private equity industry. The Massachusetts senator, in tandem with colleagues on Capitol Hill, introduced what she calls the “Stop Wall Street Looting Act.” Specifically, Warren proposes to:Make private equity firms responsible for debts and pension obligations of co
Elizabeth Warren attacks the private equity industry with new regulation proposals Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: john harwood
Keywords: news, cnbc, companies, wall, equity, rest, money, private, warren, regulation, financial, street, democratic, attacks, sen, industry, proposals, presidential, elizabeth


Elizabeth Warren attacks the private equity industry with new regulation proposals

Sen. Elizabeth Warren, as well as three other Democratic Presidential hopefuls Sen. Kirsten Gillibrand, Gov. Jay Inslee and react to questions during the Daily Kos/Netroots Nation candidate forum, at the Convention Center in Philadelphia, PA, on July 13, 2019.

Democratic presidential candidate Elizabeth Warren aimed her campaign of economic populism on Thursday at a new target: the private equity industry.

The Massachusetts senator, in tandem with colleagues on Capitol Hill, introduced what she calls the “Stop Wall Street Looting Act.” It stands no chance of enactment so long as Republicans control the White House and Senate, but it matters because Warren has risen to the top tier of 2020 Democratic contenders.

Specifically, Warren proposes to:

Make private equity firms responsible for debts and pension obligations of companies they buy.

Limit the ability of firms to extract fees, bonuses and dividends from their acquisitions.

Reinstate the abandoned Glass-Steagall wall separating commercial banks from investment banks.

Change executive compensation rules to ensure that bankers who profit from speculative bets also assume risk if their bets go bust.

Expand financial services for Americans of modest means by allowing the U.S. Postal Service to join community banks and credit unions in offering low-cost checking and savings accounts.

Warren framed her proposal as an effort to shrink the amount of money wasted on 21st century financial engineering and redirect it to improve the living standards of average American families. She cited a range of “legalized looting” examples, including Sun Capital guiding discount retailer ShopKo toward bankruptcy and Alden Global Capital forcing job cuts at The Denver Post newspaper after acquiring it.

“To raise wages, help small businesses and spur economic growth, we need to shut down the Wall Street giveaways and rein in the financial industry so it stops sucking money out of the rest of the economy,” the former Harvard professor argued in a Medium post.

Among those joining Warren in sponsoring the plan is one of her Democratic rivals for the presidential nomination, Sen. Kirsten Gillibrand of New York. In less than two weeks, both women will join the rest of the Democratic field on stage in Detroit for the second series of the party’s presidential debates.


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: john harwood
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Elizabeth Warren launched a new attack on private equity: Here’s how the downfall of Toys R Us got her there

Democratic presidential candidate Sen. Elizabeth Warren took aim Thursday morning at the private equity industry, proposing new regulations for an industry that some have blamed for the spate of retail bankruptcies over the past few years. For politicians seeking broad support, private equity has become an easy target. Private equity firms were at the forefront of the so-called “retail apocalypse,” which saw the destruction of many of the country’s beloved retailers. But the debt load firms plac


Democratic presidential candidate Sen. Elizabeth Warren took aim Thursday morning at the private equity industry, proposing new regulations for an industry that some have blamed for the spate of retail bankruptcies over the past few years. For politicians seeking broad support, private equity has become an easy target. Private equity firms were at the forefront of the so-called “retail apocalypse,” which saw the destruction of many of the country’s beloved retailers. But the debt load firms plac
Elizabeth Warren launched a new attack on private equity: Here’s how the downfall of Toys R Us got her there Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: lauren hirsch
Keywords: news, cnbc, companies, heres, downfall, attack, sen, presidential, warren, equity, launched, retail, elizabeth, companies, firms, retailers, industry, toys, private, debt


Elizabeth Warren launched a new attack on private equity: Here's how the downfall of Toys R Us got her there

Democratic presidential candidate Sen. Elizabeth Warren took aim Thursday morning at the private equity industry, proposing new regulations for an industry that some have blamed for the spate of retail bankruptcies over the past few years.

The attack was the latest shot at Big Business and its supporters since candidates Sen. Bernie Sanders, I-Vt., and Donald Trump whipped up populist fervor during the 2016 presidential campaign.

For politicians seeking broad support, private equity has become an easy target. The investment firms that do business by buying up companies and loading them with debt have been criticized for rewarding themselves with dividends while the businesses they own go under. Private equity firms were at the forefront of the so-called “retail apocalypse,” which saw the destruction of many of the country’s beloved retailers.

Private equity’s hold on the retail industry solidified in the mid-2000s, when firms swarmed, lured in by a combination of low interest rates, recognizable brand names and the view that retailers’ steady cash flow would continue indefinitely.

But the debt load firms placed on those retailers left them hamstrung. When digital commerce permanently altered the retail industry, the companies had no capacity to make investments in technology and in their stores that were needed to compete against Amazon.


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: lauren hirsch
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Blackstone’s Byron Wien: Markets are terrified of far-left Bernie Sanders and Elizabeth Warren

The stock market is concerned about the economic views of far-left Democratic presidential candidates, Wall Street veteran Byron Wien told CNBC on Thursday. “The market is afraid of the more progressive Democratic candidates” who are promoting higher taxes on the rich and ambitious climate change goals, said Wien, vice chairman of private wealth solutions at Blackstone. “Elizabeth Warren, Kamala Harris and Bernie Sanders are kind of terrifying to the market, ” Wien said in a “Squawk on the Stree


The stock market is concerned about the economic views of far-left Democratic presidential candidates, Wall Street veteran Byron Wien told CNBC on Thursday. “The market is afraid of the more progressive Democratic candidates” who are promoting higher taxes on the rich and ambitious climate change goals, said Wien, vice chairman of private wealth solutions at Blackstone. “Elizabeth Warren, Kamala Harris and Bernie Sanders are kind of terrifying to the market, ” Wien said in a “Squawk on the Stree
Blackstone’s Byron Wien: Markets are terrified of far-left Bernie Sanders and Elizabeth Warren Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, bernie, warren, rate, market, street, wall, sp, vice, democratic, markets, elizabeth, blackstones, terrified, farleft, fed, sanders, wien, stock, byron


Blackstone's Byron Wien: Markets are terrified of far-left Bernie Sanders and Elizabeth Warren

The stock market is concerned about the economic views of far-left Democratic presidential candidates, Wall Street veteran Byron Wien told CNBC on Thursday.

“The market is afraid of the more progressive Democratic candidates” who are promoting higher taxes on the rich and ambitious climate change goals, said Wien, vice chairman of private wealth solutions at Blackstone.

“Elizabeth Warren, Kamala Harris and Bernie Sanders are kind of terrifying to the market, ” Wien said in a “Squawk on the Street ” interview. If one of those senators were to be nominated, stock reaction “would be negative,” he added.

On the flip side, Wien said the market would react well to a more moderate Democratic candidate such as Joe Biden. However, he predicted that the former vice president’s poor performance in last month’s debate could bring him down. “Biden is less likely to be a candidate.”

Right now, Wall Street is pricing in the assumption that President Donald Trump will be reelected in 2020, Wien said, adding that investors are also counting on a U.S.-China trade deal and a Federal Reserve interest rate cut.

U.S. stocks opened higher Thursday after Fed Chairman Jerome Powell on Wednesday indicated a rate cut was likely. The S&P 500 went back above 3,000 in early trading after eclipsing that level Wednesday for the first time ever. In a second day of congressional economic testimony, Powell appeared before the Senate Banking Committee on Thursday.

Wall Street currently anticipates as much as 0.75% worth of rate cuts this year, with the first move coming at the end of the month at the central bank’s July 30-31 meeting. Wien said, “I hope we don’t get that.”

He thinks a Fed rate cut is unnecessary in a growing economy. “I don’t think the Fed needs to do anything,” he said, adding that the market is getting ahead of itself on rate cuts.

Wien sees the S&P 500 consolidating around 3,000 for the rest of the year, which would keep the index around its current 20% gain for 2019.

In January, Wien included a more modest 15% increase in the S&P for the year as one of his 10 surprises for 2019 — a list that he’s been compiling since 1986 when he was a chief strategist at Morgan Stanley. He joined Blackstone in 2009.


Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: jessica bursztynsky
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This is how Elizabeth Warren plans to close the pay gap for women of color

She says that “while millions of families count on Latinas and black women to deliver financially, they face a steeper climb to provide that financial security” due to bias and discrimination. On Friday, Democratic presidential candidate Elizabeth Warren released an ambitious plan to close the pay gaps that women of color face at work. Currently, black women, Native American women and Latina women make 61 cents, 58 cents and 53 cents, respectively, compared to white men. “The gap in weekly earni


She says that “while millions of families count on Latinas and black women to deliver financially, they face a steeper climb to provide that financial security” due to bias and discrimination. On Friday, Democratic presidential candidate Elizabeth Warren released an ambitious plan to close the pay gaps that women of color face at work. Currently, black women, Native American women and Latina women make 61 cents, 58 cents and 53 cents, respectively, compared to white men. “The gap in weekly earni
This is how Elizabeth Warren plans to close the pay gap for women of color Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: courtney connley
Keywords: news, cnbc, companies, elizabeth, mothers, gap, plans, companies, women, pay, black, writes, positions, warren, white, color, close


This is how Elizabeth Warren plans to close the pay gap for women of color

Warren cited data that indicates that more than 70% of black mothers and more than 40% of Latina mothers are the sole breadwinners in their families, compared to less than a quarter of white mothers. She says that “while millions of families count on Latinas and black women to deliver financially, they face a steeper climb to provide that financial security” due to bias and discrimination.

In a Medium post, the Massachusetts senator writes that if elected, on day one of her presidency she would implement a set of executive actions that would “boost wages for women of color and open up new pathways to the leadership positions they deserve.”

On Friday, Democratic presidential candidate Elizabeth Warren released an ambitious plan to close the pay gaps that women of color face at work.

Sen. Elizabeth Warren (D-MA) speaks on during the first night of the Democratic presidential debate on June 26, 2019 in Miami, Florida.

Currently, black women, Native American women and Latina women make 61 cents, 58 cents and 53 cents, respectively, compared to white men. “And it’s getting worse,” writes Warren. “The gap in weekly earnings between white and black women is higher today than it was 40 years ago. ”

To fix this problem, Warren says that as president she would deny federal contracts to companies with a poor track record of diversity and equal pay, implement a minimum wage salary of $15 an hour (since black and brown women disproportionately occupy low-wage jobs), ban companies from asking applicants about their salary and criminal histories, and ban companies from using forced arbitration and non-compete clauses that “make it harder for employees to fight wage theft, discrimination and harassment.”

Additionally, Warren points out that women of color also face a steeper climb to higher-level management positions. “Even though black women and Latinas are often the leaders and decision-makers in their own homes and communities, they hold only one spot on the Fortune 500 CEO list and less than 5% of Fortune 500 Board positions, ” she writes.

Currently, Mary Winston, who was appointed interim CEO of Bed, Bath & Beyond in May, is the only black woman leading a Fortune 500 company.

Warren writes that she would provide companies with resources to attract applicants from Historically Black Colleges and Universities (HBCUs), Tribal Colleges and Universities and other minority-serving institutions. She says she would also create paid fellowship programs for federal jobs for minority and low-income candidates and she would require every federal agency to make diversity a core part of its strategic plan. This includes, she says, creating a government-wide mentorship program focused on black and brown employees.

“It’s time to build an America that recognizes the role that women of color play in their families and in the economy,” writes Warren, “that fairly values their work, and that delivers equal opportunity for everyone.”

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Don’t miss: Abortion, equal pay, family leave: Here are all the women’s rights policies proposed by 2020 candidates so far


Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: courtney connley
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Sen. Elizabeth Warren calls on ex-FDA chief Gottlieb to resign from Pfizer’s board, says it ‘smacks of corruption’

Sen. Elizabeth Warren, D-Mass., on Tuesday called on Scott Gottlieb, the former head of the Food and Drug Administration, to resign from Pfizer’s board of directors, saying the appointment two months after leaving the agency “smacks of corruption.” Pfizer last week announced Gottlieb would join its board of directors — a job that paid a minimum of $335,000 in stock and cash in 2018, according to a regulatory filing. “You should rectify your mistake and immediately resign from your position as a


Sen. Elizabeth Warren, D-Mass., on Tuesday called on Scott Gottlieb, the former head of the Food and Drug Administration, to resign from Pfizer’s board of directors, saying the appointment two months after leaving the agency “smacks of corruption.” Pfizer last week announced Gottlieb would join its board of directors — a job that paid a minimum of $335,000 in stock and cash in 2018, according to a regulatory filing. “You should rectify your mistake and immediately resign from your position as a
Sen. Elizabeth Warren calls on ex-FDA chief Gottlieb to resign from Pfizer’s board, says it ‘smacks of corruption’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-02  Authors: angelica lavito
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Sen. Elizabeth Warren calls on ex-FDA chief Gottlieb to resign from Pfizer's board, says it 'smacks of corruption'

Senator Elizabeth Warren (D-MA), a 2020 US Presidential hopeful, speaks during the ‘We The People’ Summit at the Warner Theatre April 1, 2019, in Washington, DC.

Sen. Elizabeth Warren, D-Mass., on Tuesday called on Scott Gottlieb, the former head of the Food and Drug Administration, to resign from Pfizer’s board of directors, saying the appointment two months after leaving the agency “smacks of corruption.”

“This kind of revolving door influence-peddling smacks of corruption, and makes the American people rightly cynical and distrustful about whether high-level Trump administration officials are working for them, or for their future corporate employers,” Warren said in a July 1 letter to Gottlieb.

Pfizer last week announced Gottlieb would join its board of directors — a job that paid a minimum of $335,000 in stock and cash in 2018, according to a regulatory filing. Gottlieb stepped down from the agency that regulates the drugmaker in April.

“You should rectify your mistake and immediately resign from your position as a Pfizer board member,” said Warren, who is running for the Democratic nomination for president in 2020. “Doing so would send a strong and necessary message to the American people about the importance of government ethics and the integrity of current and former federal officials.”

Gottlieb in an interview with CNBC’s “Squawk Box” earlier Tuesday defended his decision to join the board of a drug company he regulated just a few months ago.

“I worked with some large drugmakers before I came into the agency,” Gottlieb said, adding that his new role at Pfizer is bigger than anything he did before the FDA. “I made no bones about the fact that I had expertise in life sciences and I made my living trying to promote innovation in this sector prior to coming to the agency.”

Disclosure: Scott Gottlieb is a CNBC contributor.


Company: cnbc, Activity: cnbc, Date: 2019-07-02  Authors: angelica lavito
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Elizabeth Warren’s shift puts health insurers in the 2020 Democratic crossfire

Sen. Elizabeth Warren (D-MA) speaks to the media in the spin room following the first night of the Democratic presidential debate on June 26, 2019 in Miami, Florida. The first debate of the Democratic presidential campaign has illuminated its theme and added a plot twist – leaving an American industry’s fate in doubt. In reaffirming her support for a new, universal “Medicare for All” program, Warren called for ending the private health insurance industry – a controversial step she had previously


Sen. Elizabeth Warren (D-MA) speaks to the media in the spin room following the first night of the Democratic presidential debate on June 26, 2019 in Miami, Florida. The first debate of the Democratic presidential campaign has illuminated its theme and added a plot twist – leaving an American industry’s fate in doubt. In reaffirming her support for a new, universal “Medicare for All” program, Warren called for ending the private health insurance industry – a controversial step she had previously
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Company: cnbc, Activity: cnbc, Date: 2019-06-27  Authors: john harwood
Keywords: news, cnbc, companies, warren, change, theme, puts, elizabeth, democratic, sen, debate, shift, health, insurers, twist, rising, warrens, 2020, insurance, crossfire


Elizabeth Warren's shift puts health insurers in the 2020 Democratic crossfire

Sen. Elizabeth Warren (D-MA) speaks to the media in the spin room following the first night of the Democratic presidential debate on June 26, 2019 in Miami, Florida.

The first debate of the Democratic presidential campaign has illuminated its theme and added a plot twist – leaving an American industry’s fate in doubt.

The theme is economic change. Despite solid growth, corporate profits and stock prices, Sen. Elizabeth Warren rallies progressive activists by advocating fundamental rearrangements in the name of lifting average Americans at the expense of the rapacious rich.

“We need to make structural change in our government, in our economy and in our country,” Warren said in the opening moments of Wednesday night’s NBC/MSNBC/Telemundo debate. Her sweeping tax, spending and regulatory proposals, and the response of nine rivals to them, set the framework for the debate’s economic discussion.

Thursday night’s leading figure, Joe Biden, sets the opposite edge of the Democratic spectrum. At a fundraiser last week, the former vice president told wealthy donors he could ameliorate poverty and income inequality without punishing or demonizing them.

“No one’s standard of living would change,” Biden assured them. “Nothing would fundamentally change.”

The plot twist involves health care reform. In reaffirming her support for a new, universal “Medicare for All” program, Warren called for ending the private health insurance industry – a controversial step she had previously shied away from.

“Look at the business model of an insurance company,” Warren explained. “It’s to bring in as many dollars as they can in premiums and to pay out as few dollars as possible for your health care.

“That leaves families with rising premiums, rising co-pays, and fighting with insurance companies to try to get the health care that their doctors say that they and their children need. Medicare for All solves that problem.”

Of the nine others on stage, only New York City Mayor Bill de Blasio joined her in that stance. Longshot former Rep. John Delaney, a Biden-style moderate, warned that eliminating private plans could prove politically catastrophic in 2020 against President Donald Trump.


Company: cnbc, Activity: cnbc, Date: 2019-06-27  Authors: john harwood
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Elizabeth Warren is a personal finance expert—and she has a plan for your budget

Elizabeth Warren wants to fix the economy so it works for the average American. That was the through line of the Massachusetts senator’s arguments and policy proposals during the first Democratic debate of the 2020 election season. “I am in this fight because I believe that we can make our government, we can make our economy, we can make our country work, not just for those at the top, we can make it work for everyone,” Warren said during her closing remarks. She also co-wrote two classic person


Elizabeth Warren wants to fix the economy so it works for the average American. That was the through line of the Massachusetts senator’s arguments and policy proposals during the first Democratic debate of the 2020 election season. “I am in this fight because I believe that we can make our government, we can make our economy, we can make our country work, not just for those at the top, we can make it work for everyone,” Warren said during her closing remarks. She also co-wrote two classic person
Elizabeth Warren is a personal finance expert—and she has a plan for your budget Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-27  Authors: alicia adamczyk
Keywords: news, cnbc, companies, plan, personal, proposals, finances, economy, warren, books, work, elizabeth, policy, factors, expertand, american, finance, budget


Elizabeth Warren is a personal finance expert—and she has a plan for your budget

Elizabeth Warren wants to fix the economy so it works for the average American. That was the through line of the Massachusetts senator’s arguments and policy proposals during the first Democratic debate of the 2020 election season.

“I am in this fight because I believe that we can make our government, we can make our economy, we can make our country work, not just for those at the top, we can make it work for everyone,” Warren said during her closing remarks.

And while many of the nine other candidates on stage made similar statements throughout the night, Warren is uniquely positioned to take on the issue — not only has she released more detailed plans about how she’d go about it, but she’s spent much of her career researching personal bankruptcies and the factors influencing American families’ finances day to day.

She also co-wrote two classic personal finance books with her daughter, Amelia Warren Tyagi, that focus on the pressing daily economic issues Americans face. While many of her policy proposals address large, structural change — breaking up the tech companies, instituting Medicare for All and cancelling student loan debt, among others — her books and research underline her understanding of the factors affecting American finances on an individual basis.


Company: cnbc, Activity: cnbc, Date: 2019-06-27  Authors: alicia adamczyk
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2020 candidate Elizabeth Warren announces sweeping election security and reform plan

Democratic presidential candidate, Sen. Elizabeth Warren (D-MA) addresses the crowd at the 2019 South Carolina Democratic Party State Convention on June 22, 2019 in Columbia, South Carolina. Under Warren’s plan, state and local authorities would lose much of the autonomy they have in administering federal elections. In a post on Medium, the candidate for the Democratic presidential nomination estimated her plan would cost $20 billion over 10 years, to be generated from her “Ultra-Millionaire” ta


Democratic presidential candidate, Sen. Elizabeth Warren (D-MA) addresses the crowd at the 2019 South Carolina Democratic Party State Convention on June 22, 2019 in Columbia, South Carolina. Under Warren’s plan, state and local authorities would lose much of the autonomy they have in administering federal elections. In a post on Medium, the candidate for the Democratic presidential nomination estimated her plan would cost $20 billion over 10 years, to be generated from her “Ultra-Millionaire” ta
2020 candidate Elizabeth Warren announces sweeping election security and reform plan Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-25  Authors: marc rod
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2020 candidate Elizabeth Warren announces sweeping election security and reform plan

Democratic presidential candidate, Sen. Elizabeth Warren (D-MA) addresses the crowd at the 2019 South Carolina Democratic Party State Convention on June 22, 2019 in Columbia, South Carolina.

Under Warren’s plan, state and local authorities would lose much of the autonomy they have in administering federal elections.

In a post on Medium, the candidate for the Democratic presidential nomination estimated her plan would cost $20 billion over 10 years, to be generated from her “Ultra-Millionaire” tax on households worth over $50 million.

Sen. Elizabeth Warren, D-Mass., on Tuesday announced a sweeping election reform and security proposal , which includes a constitutional amendment and other significant legislative and policy changes to federal elections.

“Our elections are less secure than your Amazon account,” Warren said in a tweet announcing the plan. “They’re under-resourced and undermined by partisan and racist officials who try to stop people from exercising their right to vote. We need to protect our democracy — and I’ve got a plan for that.”

Warren advocates for a constitutional amendment guaranteeing voting rights, as well as a list of shorter-term legislative and regulatory proposals to expand voting access.

In states that violate the new regulations, the federal government would intervene to run federal elections.

“Where racist or corrupt politicians refuse to follow the law, the federal government will temporarily take over the administration of their federal elections to guarantee the fundamental right to vote,” Warren said.

Warren would eliminate gerrymandering, putting independent commissions in charge of districting for federal elections.

The Supreme Court is currently hearing two cases challenging partisan gerrymandering, with the potential to shape the future of this practice.

A Warren administration would have the federal government replace all existing voting machines nationwide with “state-of-the-art” ones that use a standardized federal paper ballot and supervise tight election security for all elections.

The Department of Homeland Security confirmed that Russia successfully infiltrated multiple states’ voter registration rolls in the 2016 presidential election.

According to Special Counsel Robert Mueller’s report, the Russian government also hacked voting machine companies, although there is no evidence that voting machines were hacked or that any votes were changed.


Company: cnbc, Activity: cnbc, Date: 2019-06-25  Authors: marc rod
Keywords: news, cnbc, companies, reform, security, federal, plan, presidential, sweeping, states, 2020, election, candidate, democratic, warren, announces, voting, vote, elizabeth, state


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Billionaire Eddie Lampert to Elizabeth Warren and Alexandria Ocasio-Cortez: Severance to workers has been paid. Singling out Sears is ‘unfair’

The deal, which saved the company from liquidation, also promised that Lampert would reimburse Sears’ severance costs for workers who lost a job in bankruptcy. In their letter, Democrats Warren of Massachusetts and Ocasio-Cortez of New York accused Lampert of backing out of promises to Sears and to Warren in previous written exchanges. He describes the fight as one between now defunct “Old Sears” and post-bankruptcy “New Sears.” Lampert has said in court filings he believes “Old Sears” has faile


The deal, which saved the company from liquidation, also promised that Lampert would reimburse Sears’ severance costs for workers who lost a job in bankruptcy. In their letter, Democrats Warren of Massachusetts and Ocasio-Cortez of New York accused Lampert of backing out of promises to Sears and to Warren in previous written exchanges. He describes the fight as one between now defunct “Old Sears” and post-bankruptcy “New Sears.” Lampert has said in court filings he believes “Old Sears” has faile
Billionaire Eddie Lampert to Elizabeth Warren and Alexandria Ocasio-Cortez: Severance to workers has been paid. Singling out Sears is ‘unfair’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: lauren hirsch
Keywords: news, cnbc, companies, company, workers, lampert, singling, letter, severance, paid, old, employees, elizabeth, warren, ocasiocortez, sears, unfair, bankruptcy


Billionaire Eddie Lampert to Elizabeth Warren and Alexandria Ocasio-Cortez: Severance to workers has been paid. Singling out Sears is 'unfair'

Edward Lampert speaks during a news conference to announce the merger of Kmart and Sears in New York, Nov. 17, 2004.

Former Sears Chairman and CEO Eddie Lampert delivered a letter Thursday to presidential candidate Sen. Elizabeth Warren and Rep. Alexandria Ocasio-Cortez saying accusations that he has not paid severance to Sears employees laid off in the wake of the retailer’s bankruptcy are based on “false” reports.

The employees in question have been paid, he says, according to a copy of the letter obtained by CNBC.

Lampert bought Sears out of bankruptcy last year through an affiliate of his hedge fund ESL Investments, Transform Holdco, after years of declines under his leadership as the retailer’s CEO and chairman. The deal, which saved the company from liquidation, also promised that Lampert would reimburse Sears’ severance costs for workers who lost a job in bankruptcy.

In their letter, Democrats Warren of Massachusetts and Ocasio-Cortez of New York accused Lampert of backing out of promises to Sears and to Warren in previous written exchanges.

“New reports of your efforts to avoid paying millions of dollars in severance payments to laid-off workers indicate that you are betraying the commitment you made to Sen. Warren, to the bankruptcy court, and most importantly, to the tens of thousands of workers who have lost their jobs and face uncertain futures after your exploitative tenure at Sears,” the two wrote.

Lampert’s reply says those reports were misinformed.

Lampert has been arguing with Sears over the terms of his purchase agreement to buy the company out of bankruptcy. He describes the fight as one between now defunct “Old Sears” and post-bankruptcy “New Sears.” Both sides believe the other has not delivered on the terms of their agreement that was quickly put together to keep the company alive.

Lampert has said in court filings he believes “Old Sears” has failed to hand over “New Sears” certain inventory and property at Sears’ Illinois headquarters, as promised. To cover that shortfall, he is requesting approval from the bankruptcy court judge for “New Sears” to not reimburse “Old Sears” for its severance costs, as originally agreed. The costs, originally estimated at $43 million, are now pegged closer to $20 million.

Lampert said whether he reimburses Old Sears for those costs has nothing to do with whether employees get paid, an event he says has already occurred .

“This is entirely an issue between Old and New Sears,” Lampert’s letter said.

“To our knowledge, the eligible employees whose employment was terminated by Old Sears prior to our acquisition have received all severance due to them.”

Sen. Warren and Rep. Ocasio-Cortez did not immediately respond to a request for comment.

Lampert also defends his tenure running Sears. Under his leadership, the owner of Sears and Kmart suffered years of losses, store closures and layoffs. Lampert, as its largest shareholder, also struck several deals including its spinoff of Lands’ End in 2014 and carved out many of its best properties into Seritage Growth Properties, a real estate investment trust Lampert created a year later.

Those deals are now under scrutiny in a lawsuit Sears filed against Lampert other past board members, alleging the transactions were akin to “theft.” Warren and Ocasio-Cortez referred to some of those allegations in their previous letter to Lampert.

Those allegations, said Lampert, are undeserved.

“Unlike many other situations where private equity owners simply allowed companies to fail, ESL supported the company for years,” his letter said. “Sears’ employees, pension plans and trade creditors are all much better off because of the efforts we made, and continue to make, to keep the business going. And, ESL is not in the business of ‘making short term profits.'”

Lampert referred Warren and Ocasio-Cortez to challenges, store closures and layoffs by other major retailers, including Macy’s, J.C. Penney and Toys R Us.

“Singling Sears out and publicly disparaging me and the company because we were not able to successfully transform Old Sears, when so many others have met a similar fate, is unfortunate and unfair,” wrote Lampert.

“You have made harsh charges on the basis of allegations made in lawsuits and other court filings that have not been adjudicated and have accepted at face value claims that have been thrown about in years of slanted media coverage.”

Read the full text of Lampert’s letter sent Thursday here:


Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: lauren hirsch
Keywords: news, cnbc, companies, company, workers, lampert, singling, letter, severance, paid, old, employees, elizabeth, warren, ocasiocortez, sears, unfair, bankruptcy


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