Today, President Obama joined Ohio Gov. Ted Strickland and U.S. Department of Transportation Secretary Ray LaHood in Columbus, Ohio, to break ground for the 10,000th road project funded through the president’s American Recovery and Reinvestment Act (ARRA) stimulus program.
Economy & Budget
As House and Senate conferees put the finishing touches on financial regulatory reform, they — and the White House, which will have to implement whatever passes — need to ensure that both new and old regulatory structures reflect all of America’s diverse communities, in both their activities and their personnel. The good news is that the legislation as it now stands takes major steps in that direction.
As we rebuild America, we must ensure that Wall Street won't gamble again with our futures. I support the Restoring American Financial Stability Act because it includes commonsense reforms to hold Wall Street and the big banks accountable. This bill will end bailouts by ensuring taxpayers are never again on the hook for Wall Street's risky decisions and will rein in big banks and their big bonuses. It protects families' retirement funds, college savings, homes and businesses financial futures from unnecessary risk by lenders. It also safeguards the American people from territory lending abuses which resulted in millions of foreclosures over the past few years.
The American people deserve and want these reforms. Let's give Americans what they deserve--fairness in the financial system.
Today, debit cards are one of America’s favorite ways to pay. Even in the economic slowdown, more consumers are pulling out plastic and, literally, leaving cash and checks behind. And there’s a compelling reason for this shift. Debit cards are fast, convenient, secure, and provide timely access to available funds and the ability to track spending virtually real time. And most banks offer debit cards to their customers with checking accounts at low or no additional cost.
According to the non-partisan Congressional Budget Office (CBO), Senator Thune’s GOP tax extender amendment cuts taxes by $26 billion, cuts spending by over $100 billion, and reduces the deficit by $68 billion.
Senator Thune’s amendment is a step in the right direction toward reducing spending, reducing taxes and reducing the deficit. This approach is a stark contrast to the Democrats’ tax extender bill, which increases spending $126 billion, includes over $70 billion in new taxes, and increases the deficit $79 billion over the next 10 years.
Good heavens. In The Hill yesterday, the so-called ‘Workforce Fairness Institute’ seemed to need a lot of words to play the same old broken record the anti-worker lobby has been playing for years: "Big Labor bosses… forced unionization… punishing small business… Big Labor bosses…."
Round and round it goes, no matter the issue, over and over again. This time it is "high road contracts." Next issue we'll hear the same song.
Senator John Thune has proposed legislation with an obvious surface appeal to those concerned about federal spending and deficits — to cancel 5 percent of appropriated funds for fiscal year 2010, as well as tens of billions of dollars of unspent funds from last year’s Recovery Act and other legislation. But his legislation would essentially shut down much of the federal government for the last two and a half months of this fiscal year (which ends September 30), threatening such basic services as providing Social Security checks, ensuring food safety, and inspecting mines.
The Thune legislation, which he has offered as an amendment (SA 4333) to pending jobs legislation, proposes rescissions (that is, cancellations) of previously appropriated funding available for fiscal year 2010. Specifically, he proposes to:
Today, Congressman Quigley delivered the following speech on the house floor:
Mr. Speaker, I rise in strong support of HR 5297, the Small Business Lending Fund Act. This legislation will help the small businesses in my district, such as Al and Joe’s Deli, a family owned business in Franklin Park (with sub sandwiches to die for) that is looking to expand.
It will also save businesses such as National Plumbing and Heating Supply Company in Illinois which had to shut down after 60 years because banks ended its line of credit.
To respond to these problems I will vote to create a new $30 billion loan program to boost lending to small businesses so they can expand and create jobs.
I also co-sponsored an amendment that will include commercial real estate lending as small business lending. This will compliment regular lending efforts and help businesses like Al and Joe’s capitalize on existing property to expand and create new jobs.
I urge my colleagues to pass this critical legislation.