Representatives Jesu´s “Chuy” Garci´a (IL-4), Ro Khanna (CA-17), and Val Hoyle (OR-4)’s Reward Work Act reins in stock buybacks by repealing a Reagan-era Securities and Exchange Commission (SEC) loophole that allows corporations to buy back their stock on the open market. This legislation also empowers workers by requiring public companies to allow workers to directly elect one-third of their company’s board of directors.
