H.R. 10595
Stop Wall Street Looting Act
Official summary
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Text of the bill
I Corporate responsibility
II Anti-looting
(a) In general. Section 8 of the National Labor Relations Act (29 U.S.C. 158) is amended—
(1) in subsection (a)—
(A) in paragraph (5), by striking the period and inserting ;; and
(B) by adding at the end the following:
(6) to promise, threaten, or take any action—
(A) to permanently replace an employee who participates in a strike as defined by section 501(2) of the Labor Management Relations Act, 1947 (29 U.S.C. 142(2));
(B) to discriminate against an employee who is working or has unconditionally offered to return to work for the employer because the employee supported or participated in such a strike; or
(C) to lockout, suspend, or otherwise withhold employment from employees in order to influence the position of such employees or the representative of such employees in collective bargaining prior to a strike; and
(7) to communicate or misrepresent to an employee under section 2(3) that such employee is excluded from the definition of employee under section 2(3).
(2) in subsection (b)—
(A) by striking paragraphs (4) and (7);
(B) by redesignating paragraphs (5) and (6) as paragraphs (4) and (5), respectively;
(C) in paragraph (4), as so redesignated, by striking affected; and inserting affected; and; and
(D) in paragraph (5), as so redesignated, by striking ; and and inserting a period;
(3) in subsection (c), by striking the period at the end and inserting the following: : Provided, That it shall be an unfair labor practice under subsection (a)(1) for any employer to require or coerce an employee to attend or participate in such employer’s campaign activities unrelated to the employee’s job duties, including activities that are subject to the requirements under section 203(b) of the Labor-Management Reporting and Disclosure Act of 1959 (29 U.S.C. 433(b)).; and
(4) in subsection (d), in the matter preceding paragraph (1), by inserting and to maintain current wages, hours, and terms and conditions of employment pending an agreement after arising thereunder.
(b) Conforming amendments. The National Labor Relations Act is amended—
(1) in section 8(e) (29 U.S.C. 158(e)), by striking and section 8(b)(4)(B); and
(2) in section 10 (29 U.S.C. 160)—
(A) by repealing subsection (k); and
(B) in subsection (l)—
(i) by striking of paragraph and all that follows through the preliminary and inserting of section 8(e), the preliminary;
(ii) by striking the second proviso; and
(iii) by striking the final sentence.
III Protecting workers when companies go bankrupt
IV Closing tax loopholes
V Investor protection and market transparency
VI Restrictions on securitizing risky corporate debt
VII Miscellaneous