A coalition of progressive advocacy groups and Democratic lawmakers on Wednesday called for a package of tax actions targeting hedge funds they say have helped to trigger austerity budgets around the globe. 

The measures include a bill that would allow countries to to negotiate down their debt, some of which is held by hedge funds, without being blocked by the debt holders. Lawmakers also called for the passage of a capital gains tax, which is meant to tax income from investments like stocks the same wages. 

And lawmakers called for ending a so-called carried interest tax loophole, as well as amending the Champtery Doctrine, which bars the purchasing or securities or other financial instruments with the sole purpose of litigation. 

The bills are being called for by a coalition called "Not a Game, It's a People," and is composed of a range of progressive groups that include the Center for Popular Democracy, New York Communities for Change and Churches United for Fair Housing, Strong Economy for All and Hedge Clippers, as well as Sen. Gustavo Rivera and Assemblywoman Maritza Davila.

The group pointed to the impact of debt held by hedge funds on governments around the world, including Puerto Rico, which in recent years has struggled under a mountain of debt. 

"And because of the deep ties between New York and the island, New York now houses the second largest population of Puerto Ricans. We see a lot of personal ties between the campaign and Puerto Rico," the coalition said.