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HRES1207119th Congress

Stop Private Equity Harms Resolution

Sponsored By: Representative Khanna, Ro [D-CA-17]

Introduced

Summary

Protect Americans from private equity harms by curbing investor tactics that raise prices and cut quality in housing, health care, child care, energy, and nursing homes. The resolution lays out five objectives to boost transparency, strengthen standards, stop taxpayer subsidies for investor takeovers, and support nonprofit and community alternatives.

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  • Families, tenants, and homebuyers: Calls to stop taxpayer dollars from subsidizing investor home purchases and guarantee legal counsel for tenants facing eviction from investor-owned housing. Private equity owns 1 in 5 single-family homes sold and accounts for 23 percent of manufactured home purchases.
  • Patients, health workers, and seniors: Aims to raise staffing, safety standards, and pay in hospitals, practices, and nursing homes, and to prevent executives from using public funds to enrich themselves. Private equity owns about 30 percent of for-profit hospitals and medical practices and has been linked to 11 percent higher patient mortality in nursing homes.
  • Child care, energy customers, and markets: Requires full ownership transparency and tougher antitrust reviews, and promotes nonprofit, cooperative, and community providers as alternatives to investor chains. Private equity backs 4 of the top 5 for-profit child care chains and controls about 10 to 12 percent of the market.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Khanna, Ro [D-CA-17]

CA • D

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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