Stop Wall Street Looting Act

The Stop Wall Street Looting Act targets private equity fund practices that harm workers and communities by imposing new restrictions and accountability measures. It establishes joint liability for private equity firms and their executives for debts and worker protections when they acquire companies, limiting post-acquisition dividends and buybacks for four years. The bill also imposes a 100% surtax on certain payments received by investment firms from controlled target firms and requires new transparency about fund activities, including detailed financial disclosures. It strengthens worker protections in bankruptcy cases by prioritizing unpaid wages, severance pay, and pension benefits over other creditor claims. These provisions aim to prevent private equity firms from stripping assets and leaving workers and communities bearing the costs when investments fail.