The bipartisan deal on infrastructure could lead to a massive selloff of public assets -- putting Wall Street in charge and causing prices to soar while service declines.
Reports indicate the deal could lead to the privatization of the Tennessee Valley Authority in the South and the Bonneville Power Authority in the Pacific Northwest -- two New Deal projects that provide affordable power to millions of people.1 If that happens, the terrible policies of Texas' electricity grid, run for profit without regard to public need, could spread all over the country.
Other reports indicate the deal could lead to a selloff of airports, highways, and other crucial infrastructure.2 Wall Street will gouge the public and get rich in the process.
We can't let this happen. It's time to show President Biden and Congress that the American people agree: no privatization!
Sign the petition: Don't sell off public assets to Wall Street!
Ten years ago when Rahm Emanuel was mayor of Chicago, he entered into a notorious deal to privatize the city's parking meters. He handed over the revenue from those meters to Wall Street investors, who make hundreds of millions of dollars a year -- while prices soared and city services were starved for revenue.3
That's exactly what could happen to all kinds of public infrastructure across America under the bipartisan deal recently announced by several Senators.
But there's hope. The deal is already under fire from other Republicans as well as Democrats. We have an opportunity to show Congress and the President that we cannot allow our public infrastructure to be sold off for private profit.
We need to speak up now, because time is running out -- Congress may vote within just a few weeks.
Tell Biden and Congress: Say no to selling off public infrastructure to Wall Street!
Sources:
1. Bloomberg, "Wall Street Sees Big Wish Granted in Biden's Infrastructure Deal," June 24, 2021.
2. The American Prospect, "Bipartisan Senate Infrastructure Plan Is a Stalking Horse for Privatization," June 21, 2021.
3. Chicagoist, "Chicago's Awful Parking Meters Make Big Bucks For Private Investors Again," May 24, 2016.