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Chris Deluzio: “We need smarter industrial policy to break up these…”

Featuring: Chris Deluzio, Democratic | U.S. House, Pennsylvania, District 17

‘National Security Shouldn’t Be Subject To The Whims Of Wall Street’: Chris Deluzio

Published May 14, 2023 | Video Starts at 01:09

Public money shouldn't bankroll stock buybacks. It doesn't have to be this way. We should once again ban buybacks that used to be illegal and should be again. And We need smarter industrial policy to break up these monopolies so we've got real competition in the defense industry. I yield back. (01:09–01:15)

CLAIM

Asserts the need for policy to break up monopolies for competition in the defense industry.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Chris Deluzio

“The defense industrial base is dominated by a handful of massive corporations that have gobbled up competitors.”
‘National Security Shouldn’t Be Subject To The Whims Of Wall Street’: Chris Deluzio | Uploaded May 14, 2023 | 00:15-00:22
“These five companies have a lot of power and responsibility to supply our military.”
‘National Security Shouldn’t Be Subject To The Whims Of Wall Street’: Chris Deluzio | Uploaded May 14, 2023 | 00:21-00:26
“They're enriching themselves with stock buybacks and shareholder dividends fueled by public money while shrinking their investments in…”
‘National Security Shouldn’t Be Subject To The Whims Of Wall Street’: Chris Deluzio | Uploaded May 14, 2023 | 00:28-00:37
“The Pentagon's reported that over the past decade research and development is down, but corporate payouts for prime contractors are up.”
‘National Security Shouldn’t Be Subject To The Whims Of Wall Street’: Chris Deluzio | Uploaded May 14, 2023 | 00:36-00:45
“Public money shouldn't bankroll stock buybacks.”
‘National Security Shouldn’t Be Subject To The Whims Of Wall Street’: Chris Deluzio | Uploaded May 14, 2023 | 00:59-01:04
“We should once again ban buybacks that used to be illegal and should be again.”
‘National Security Shouldn’t Be Subject To The Whims Of Wall Street’: Chris Deluzio | Uploaded May 14, 2023 | 01:04-01:09