US Government May Launch New Effort To Seize Private Property, Says JPMorgan CEO
JPMorgan CEO Jamie Dimon says the US government may need to seize private property to fuel one of its most high-profile initiatives. In a new annual letter to shareholders, Dimon says government agencies could evoke eminent domain and forcibly obtain private property to propel the push for clean energy.
Dimon says recently passed legislation including the Inflation Reduction Act have the potential to create more than $1 trillion in clean technology development. But he believes immediate action and a serious sense of urgency are needed to effectively implement clean energy policies in a timely manner.
Local, state and federal agencies all have the power to utilize eminent domain to allocate private property. The Trump administration organized the most recent federal effort to enact eminent domain in its push to build a wall along the US-Mexico border.
A study from the Government Accountability Office (GAO) says the administration seized 135 private tracts of land in Texas by either signing agreements with the owners or by going to court to seize their property.
