1. United States
2. Calif.
3. Letter

I am writing to urge you to take a strong stand against the unchecked influence of private equity firms and the harm they are inflicting on middle- and lower-class Americans. These firms are eroding the stability of our economy, our housing market, and our communities—all in pursuit of short-term profits at the expense of working families. Private equity firms have devastated the housing market by buying up single-family homes and rental properties, inflating costs and making homeownership unattainable for countless Americans. Families who should be building generational wealth are instead trapped in an endless cycle of rising rents, unable to compete with corporate cash buyers who have no interest in fostering stable communities. Beyond housing, private equity firms have a well-documented history of acquiring and gutting businesses that serve as economic lifelines in our communities. Companies like Kmart, Sears, Joann Fabrics, Red Lobster, and many others have been stripped for parts, burdened with unsustainable debt, and ultimately shuttered—all while private equity executives walk away with millions. These firms exploit loopholes to extract as much wealth as possible, leaving employees jobless, communities without essential services, and local economies in ruins. This predatory business model is not capitalism—it’s corporate looting. Private equity firms have been allowed to game the system for too long, extracting value without contributing anything of real substance. It’s time for legislative action to prevent further damage. I urge you to support policies that: 1. Restrict private equity ownership of residential properties to curb housing market manipulation. 2. Implement stronger oversight and regulation of leveraged buyouts that leave businesses burdened with unpayable debt. 3. Hold private equity firms accountable for the long-term consequences of their acquisitions, ensuring workers and communities are not abandoned in their wake. Americans are tired of watching our homes, jobs, and local economies be sacrificed for the benefit of a handful of billionaires. We need leaders willing to take a stand against this predatory practice. I ask you to be one of those leaders. I appreciate your time and look forward to your response on how you plan to address this critical issue.