This story has been corrected.*
For decades, the Congressional Black Caucus has been a champion of progressive politics and policy on Capitol Hill. Its members are some of the most liberal lawmakers in the US House of Representatives. But the CBC has recently forged a close relationship with a major Washington player that would probably surprise many who view the group as a left-of-center bastion: lobbyists for Big Finance.
The most recent display of these cozy ties arrived on Tuesday, when caucus staff attended a private meeting with a bevy of industry lobbyists fighting a Labor Department proposal to impose regulations on investment advisers. The caucus, meanwhile, has ignored repeated requests from the Labor Department to brief its members on the new rule it is considering, which is intended to protect the retirement accounts of American workers from unscrupulous advisers. The industry’s briefing with CBC staff comes a week before a House vote is scheduled on a bill that would block the new protections.
The Congressional Black Caucus and the Financial Lobby: BFFs
No comments:
Post a Comment