Stop Private Equity Harms Resolution

This resolution, titled the "Stop Private Equity Harms Resolution," expresses strong support for protecting Americans from the detrimental impacts of private equity firms. It asserts that private equity and other large institutional investors are increasingly acquiring essential services, including housing, child care, healthcare, energy, and nursing homes. This ownership is cited as a primary cause for rising prices, declining quality, and limited choices for families across these critical sectors.

The resolution details specific concerns across various industries. In housing, private equity is buying up single-family homes and manufactured home parks, leading to increased rents. For child care, private equity-backed chains control a significant market share, contributing to high costs. In healthcare, private equity ownership is linked to increased prices, reduced quality, higher debt, and worse patient outcomes, including increased mortality in nursing homes due to severe staffing cuts. Issues are also noted in the energy sector, where private equity ownership of utilities can result in higher bills and less reliable service.

The resolution references several pieces of past legislation aimed at addressing these issues, such as ending taxpayer subsidies for institutional home purchases and requiring disclosure of private equity interests in healthcare. It concludes by declaring the Federal Government's duty to hold service providers accountable, strengthen oversight, and support alternatives to private equity ownership. The resolution ultimately calls for a comprehensive plan that includes raising staffing and safety standards, ending taxpayer subsidies for institutional investors buying homes, ensuring transparency, preventing executive enrichment, and supporting nonprofit and community-based alternatives to put people over profits.