# 119-s-5512: Stop Wall Street Looting Act

119-s-5512, Stop Wall Street Looting Act, is a 119th Congress bill sponsored by Sen. Warren, Elizabeth [D-MA] (D-MA); status introduced; PRIA reads it as touching household money (as of 2026-10-21).

- Canonical: https://policyrisk.com/legislation/119-s-5512
- As of: 2026-10-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-5512
- Congress: 119
- Title: Stop Wall Street Looting Act
- Status: introduced
- Introduced: 2026-09-24
- Sponsor: Sen. Warren, Elizabeth [D-MA] (D-MA)
- Cosponsors: 6
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-10-21

## Summary

**Would make controlling private funds and their managers jointly liable for target firms' debts and sharply limit post-acquisition capital extraction.** It would also narrow bankruptcy safe harbors, extend avoidance lookbacks, and rewrite tax and reporting rules for investment managers. - Families, workers, and communities: Would strengthen protections in insolvency by raising wage and severance priority and treating WARN penalties and back pay as administrative expenses. The wage priority cap would increase to $20,000 per employee. - Private funds, managers, and investors: Would impose joint and several liability, void indemnities that shield managers, ban large equity distributions for 4 years after a buyout, and cap certain capital distributions at 10% relative measures. - Tax, market, and insolvency rules: Would extend avoidance lookbacks to 15 years for buyout-related transfers, create a new surtax on payments to controlling entities, recharacterize many carried interest gains as ordinary income under a new partnership regime, and force detailed annual SEC reporting on fees, debt, defaults, and political spending.

## Cosponsors (6)

- Sen. Smith, Tina [D-MN] (D-MN), 2026-09-24T00:00:00.000Z
- Sen. Baldwin, Tammy [D-WI] (D-WI), 2026-09-24T00:00:00.000Z
- Sen. Blumenthal, Richard [D-CT] (D-CT), 2026-09-24T00:00:00.000Z
- Sen. Markey, Edward J. [D-MA] (D-MA), 2026-09-24T00:00:00.000Z
- Sen. Merkley, Jeff [D-OR] (D-OR), 2026-09-24T00:00:00.000Z
- Sen. Sanders, Bernard [I-VT] (I-VT), 2026-09-24T00:00:00.000Z

## Provisions PRIA read

- Stronger strike protections for workers: benefit, high. If enacted, the bill would make it an unfair labor practice to permanently replace workers who strike or to discriminate against them for striking. It would bar lockouts to influence bargaining, forbid coercing employees to attend employer campaign activities, and require employers to keep wages, h…
- Major tax changes for private funds: mixed, high. If enacted, the bill would rework how investment-manager and carried-interest income is taxed. Many gains tied to investment-services partnership interests would be treated as ordinary income instead of capital gains, with some limited exceptions for qualifying capital interests. The bill would add…
- More reporting and investor protections: mixed, medium. If enacted, the bill would require the SEC to make controlling private funds file annual GAAP reports within one year. Reports would cover fees, carried interest, fund debt, defaults and bankruptcies, workforce numbers, political spending over $10,000, climate and human-capital data, and other item…
- Tighter rules to stop asset stripping: mixed, medium. If enacted, the bill would make private funds and active interest holders jointly liable for a controlled firm’s debts, penalties, WARN claims, and some pension liabilities. It would void target-firm promises to indemnify those funds. After a private-fund change in control, the target could not mak…

## Related bills

- 119-s-3990: PrEP Access and Coverage Act of 2026
- 119-s-2823: FAMILY Act
- 119-s-2763: Keep Billionaires Out of Social Security Act
- 119-s-3869: Healthy Families Act
- 119-s-51: Washington, D.C. Admission Act
- 119-s-5108: Right to IVF Act of 2026

## Sources
- [119-s-5512 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/5512)

## Related
- [119-s-3990: PrEP Access and Coverage Act of 2026](https://policyrisk.com/legislation/119-s-3990)
- [119-s-2823: FAMILY Act](https://policyrisk.com/legislation/119-s-2823)
- [119-s-2763: Keep Billionaires Out of Social Security Act](https://policyrisk.com/legislation/119-s-2763)
- [119-s-3869: Healthy Families Act](https://policyrisk.com/legislation/119-s-3869)
- [119-s-51: Washington, D.C. Admission Act](https://policyrisk.com/legislation/119-s-51)
- [119-s-5108: Right to IVF Act of 2026](https://policyrisk.com/legislation/119-s-5108)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-5512 (as of 2026-10-21).