News & Events

AFT Resolution to Take on Wall Street

Written by Saint Paul Federation of Teachers, in News

The American Federation of Teachers officially adopted a resolution written by SPFT to take on Wall Street. This resolution, initially proposed at last summer’s AFT convention, was officially adopted by AFT’s Executive Council at their meeting earlier this month.

The resolution commits AFT to a Take on Wall Street Coalition and work to:

  • Close the carried-interest loophole that lets billionaire Wall Street money managers pay lower tax rates than nurses or construction workers;
  • Create a Wall Street speculation tax that would discourage short-term bets and generate billions in new revenue to make college affordable, invest in our infrastructure and create jobs in our cities;
  • End “Too Big to Fail” by breaking up the big banks—making them smaller, simpler and safer;
  • Stop subsidizing million dollar CEO bonuses by ending the CEO pay tax loophole;
  • End predatory lending and also expand access to fair consumer banking services through “a public option” like postal banking; and
  • End foreclosures during the school year on families with school-age children.

You can read the entire resolution on AFT’s website.