Representatives Jesús “Chuy” García (IL-04), Ro Khanna (CA-17), and Val Hoyle (OR-04) reintroduced the Reward Work Act, a bill to ban stock buybacks and increase worker representation on corporate boards. When corporations buy back their stocks, they divert crucial resources from worker wages, benefits, and research and development toward short-term shareholder profits and huge payouts to executives. “There’s a reason that stock buybacks used to be illegal: corporations use them to artificially increase their stock price at the expense of workers, consumers, and the economy. I’m introducing the Reward Work Act to ban this harmful practice and give workers a voice on corporate boards,” said Congressman García. “As wages stagnate and corporate abuses rise, we need transformative change to recenter workers and consumers in our country’s economy. Banning stock buybacks is a good place to start.”