Spectator NZ

Source: United States Senator for Connecticut – Chris Murphy

WASHINGTON–U.S. Senators Chris Murphy and Richard Blumenthal and U.S. Representatives Rosa DeLauro and John Larson joined U.S. Senator Elizabeth Warren (D-Mass.) and U.S. Representative Katie Porter (D-Calif.) and dozens of other lawmakers to introduce the Secure Viable Banking Act, legislation that would repeal Title IV of the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018 following the collapse of Silicon Valley Bank (SVB) and Signature Bank.

Title IV of the Economic Growth, Regulatory Relief, and Consumer Protection Act raised the asset threshold at which a bank is considered and regulated as a “systemically important financial institution” to $250 billion, exempting SVB and other mid-sized banks from regular stress testing and enhanced liquidity, risk management, and resolution plan, or “living will,” requirements. The lawmakers’ new bill would repeal these dangerous regulatory rollbacks, which invited banks to load up on risk and increase profits, restoring critical Dodd-Frank protections. 

“When people deposit their money into the bank, they trust that it’s safe and secure. But thanks to the Trump-era rollback of protections to prevent financial crises exactly like the Silicon Valley Bank collapse, we’ve seen how that’s not always true. Too many big banks and venture capitalists want to privatize their profits and socialize their losses, and that’s unacceptable. This legislation would strengthen rules for banks and restore protections for consumers,” said Murphy.

“The collapse of Silicon Valley Bank underscores the urgent need to stop big banks’ efforts to self-govern and deregulate. Common sense measures – like strengthened stress tests and heightened capital and liquidity requirements – will safeguard vulnerable American families who have the most to lose from another financial meltdown. This legislation is an important step in addressing the regulatory rollbacks that continue to fail American consumers,” said Blumenthal. 

“The collapse of Silicon Valley Bank and Signature Bank are a direct result of misguided rollbacks to Dodd-Frank protections made in 2018 that propped up big banks at the expense of every day Americans.  I voted against these rollbacks then, and I believe we must right the wrongs now to safeguard the economy and consumers,” said DeLauro. “The 2008 financial crisis proved how critical it is to protect Americans’ deposits and not let the richest corporations and big banks dig American taxpayers into ruin. I am proud to cosponsor the Secure Viable Banking Act, which protects consumers from abusive banking behavior. We can no longer tolerate corporate greed and mismanagement at the expense of hard working families.”

“President Biden is rightfully taking strong action to respond to the bank’s failures, but it shows the Dodd-Frank Act was the right policy when we enacted it after the 2008 financial crisis,” said Larson. “Republicans under President Trump weakened the regulations that would have applied now, a move I voted against. I’m proud to join my colleagues on this legislation today because we must act in Congress to prevent these kind of failures from happening again.”

U.S. Senators Tammy Baldwin (D-Wis.), Cory Booker (D-N.J.), Richard Blumenthal (D-Conn.), Tammy Duckworth (D-Ill.), Ed Markey (D-Mass.), Bernie Sanders (I-Vt.), Mazie Hirono (D-Hawaii), Dick Durbin (D-Ill.), Martin Heinrich (D-N.M.), Bob Menendez (D-N.J.), Bob Casey (D-Pa.), John Fetterman (D-Pa.), Sheldon Whitehouse (D-R.I.), Peter Welch (D-Vt.), Brian Schatz (D-Hawaii), Ben Ray Luján (D-N.M.), and Chris Murphy (D-Conn.), and Representatives Pramila Jayapal (D-Wash.), Jim McGovern (D-Mass.), Hank Johnson (D-Ga.), Jerrold Nadler (D-N.Y.), Dwight Evans (D-Pa.), Bonnie Watson Coleman (D-N.J.), Betty McCollum (D-Minn.), Jan Schakowsky (D-Ill.), Marcy Kaptur (D-Ohio), Jesús “Chuy” García (D-Ill.), Barbara Lee (D-Calif.), Stephen Lynch (D-Mass.), Suzanne Bonamici (D-Ore.), Ro Khanna (D-Calif.), John Larson (D-Conn.), Mark Takano (D-Calif.), Jimmy Gomez (D-Calif.), Jamaal Bowman (D-N.Y.), Eric Swalwell (D-Calif.), Mark Pocan (D-Wis.), Jamie Raskin (D-Md.), Alexandria Ocasio-Cortez (D-N.Y.), Earl Blumenauer (D-Ore.), Jake Auchincloss (D-Mass.), Rosa DeLauro (D-Conn.), Nanette Barragan (D-Calif.), John Garamendi (D-Calif.), Ayanna Pressley (D-Mass.), Ruben Gallego (D-Ariz.), Cori Bush (D-Mo.), and Robert Garcia (D-Calif.) signed on to the legislation. 

###

Source: United States Senator for Connecticut – Chris Murphy

WASHINGTON—U.S. Senators Chris Murphy (D-Conn.), a member of the U.S. Senate Health, Education, Labor, and Pensions Committee, and John Thune (R-S.D.) and U.S. Representatives Mike Kelly (R-Pa.) and Jimmy Panetta (D-Calif.) reintroduced the Personal Health Investment Today (PHIT) Act. This bipartisan, bicameral legislation would encourage physical activity and incentivize healthier living by allowing Americans to use a portion of the money saved in their pre-tax health savings account (HSA) and flexible spending account (FSA) toward qualified sports and fitness purchases, such as gym memberships, fitness equipment, and youth sports league fees.

“Joining a local gym or signing your kids up for little league are great ways for families to get healthy and connect with their community, but those fees can be really expensive,” said Murphy. “This bipartisan legislation would allow people to use their flexible spending accounts to cover those expenses. It’s a smart investment that would help more Americans prioritize their health, lead active lives, and connect with others.”

“As a lifelong athlete and fitness enthusiast, I understand the value of having access to gyms and fitness equipment, and I’m grateful for those opportunities,” said Thune. “For some Americans, though, certain gym or athletic league membership costs can be prohibitive, keeping them from pursuing healthy habits like exercising or participating in other physical activities. By giving Americans greater flexibility with their HSAs and FSAs, we can empower people to make healthy choices, get active, and hopefully prevent the onset of costly chronic conditions.”

“As a former college football player and youth football coach myself, I’ve seen young Americans greatly improve their lives because they were able to join a team and play sports,” said Kelly. “This bill gives kids, especially those in underserved or low-income communities, a real chance to play the sport of their choice. This isn’t just about athletics: it’s about gaining critical team-building and character-building traits that stay with kids for the rest of their lives. I thank the National Football League, National Hockey League, National Basketball Association, and Major League Baseball for supporting our efforts.”

“With families tightening their belts, gyms, youth sports leagues, and other exercise classes have become less and less affordable and accessible,” said Panetta. “I’m proud to reintroduce the PHIT Act alongside Rep. Kelly and Sens. Thune and Murphy to provide financial incentives for families to really invest in physical activity for their kids and themselves. An active lifestyle is the best preventative medicine, and by encouraging these habits we can promote healthier communities.”

The legislation is cosponsored by U.S. Senators Tammy Baldwin (D-Wis.), Shelley Moore Capito (R-W.Va.), Kevin Cramer (R-N.D.), Roger Marshall (R-Kan.), Tim Scott (R-S.C.), Kyrsten Sinema (D-Ariz.), Thom Tillis (R-N.C.), and Roger Wicker (R-Miss.) and U.S. Reps. Brendan Boyle (D-Pa.), Brian Fitzpatrick (R-Pa.), Darin LaHood (R-Ill.), and Terri Sewell (D-Ala.).  

“The pandemic gave us a new appreciation for the physical and mental health benefits of activity,” said Tom Cove, president and CEO of the Sports and Fitness Industry Association (SFIA). “The PHIT Act is a common sense solution to allow more Americans to participate in sports, exercise and recreate in the outdoors by making such activities more affordable and accessible. SFIA applauds Senators Thune and Murphy and Congressmen Kelly and Panetta for their strong commitment to improving the health of every American, and we pledge to work worth with our congressional champions to pass the PHIT Act.”

“The National Football League (NFL) is pleased to support the PHIT Act, which is sensible, bipartisan legislation that makes participation in youth sports and physical activity more accessible and affordable for more Americans,” said Brendon Plack, senior vice president of public policy and government affairs at the NFL. “Encouraging youth to adopt active lifestyles and healthy habits has been a cornerstone of the league’s commitment to community, and the PHIT Act helps to further advance that important goal. We look forward to working with the bill’s sponsors in Congress, as well as other stakeholders in the sports community to move the bill across the goal line. Enacting the PHIT Act into law will mark a victory in the ongoing effort to promote and support healthy and active families across the country.”   

“At the National Hockey League (NHL), we believe that hockey is for everyone, and that’s why we support efforts in Congress to advance the PHIT Act, which would help make sports more affordable for all who have a passion and love for the game, regardless of socio-economic status,” said Kim Davis, senior executive and vice president of social impact, growth initiatives and legislative affairs at the NHL. “Data consistently shows that participating in youth sports can lead to immediate and long-term physical, mental and economic benefits for players, their families and their communities. The PHIT Act would directly help countless American families access these invaluable sports opportunities.”

“Every child deserves the right to be healthy,” said Wayne B. Moss, executive director of the National Council of Youth Sports. “Youth sports is a fun pathway to healthy lifestyles and leads to positive physical, social and emotional outcomes. Sports also serves as a protective factor for risky behavior. The PHIT Act will reduce participation barriers and allow more young people to participate. This bipartisan legislation will help mitigate the physical and mental health challenges created by COVID-19.” 

“Americans, especially our children, need to be more active,” said Jon Butler, executive director of Pop Warner Little Scholars. “Studies have shown that children who are physically active do better academically in school. Being active is also a good means of enhancing mood elevation and self-esteem. Passing the PHIT Act to lower activity costs will help families with youth sports expenses and increase participation in sports for improved health.”

Qualified expenses do not include: private clubs owned and operated by members or clubs with golf, hunting, sailing, or riding facilities. In the case of sports equipment (other than exercise equipment), reimbursement for a single item cannot exceed $250, and these pre-tax dollars cannot be used for general fitness apparel or footwear. 

###

Source: United States Senator for Nebraska Deb Fischer

WASHINGTON, D.C. – U.S. Senator Deb Fischer (R-Neb.), a senior member of the Senate Armed Services Committee, and 13 of her Republican colleagues sent a letter to Assistant Secretary of Defense for Homeland Defense and Global Security Melissa Dalton after receiving information confirming that the U.S. Department of Defense (DoD) has spent more than $300 million in taxpayer dollars to house unused border wall panels since President Biden ordered a halt to construction of the wall in 2021. U.S. Senator Roger Wicker (R-Miss.) led the letter.

The built sections – also known as bollard panels – lie unused at 20 project sites across southern Arizona and New Mexico. The DoD is spending $130,000 daily to store, maintain, and secure these panels, despite attempts by states and other entities to acquire the panels and put them to use.

The Senators blasted such wasteful spending during a dangerous time for American national defense.

“The Department of Defense should not be incurring these daily charges but should be using these funds to bolster national security. In a highly dangerous security environment for the United States, every dollar Congress authorizes for the Department of Defense should be used effectively. This failing program clearly misses that standard,” the Senators wrote.

To follow up on the revelation, the Senators requested a full accounting of the DoD’s internal correspondence on this issue, a list of entities the Department is paying to store the panels, and an explanation of how the contract process for storage proceeded.

In addition to Sens. Fischer and Wicker, the letter was signed by 10 members of the Senate Armed Services Committee: U.S. Senators Tom Cotton (R-Ark.), Mike Rounds (R-S.D.), Joni Ernst (R-Iowa), Dan Sullivan (R-Alaska), Kevin Cramer (R-N.D.), Rick Scott (R-Fla.), Tommy Tuberville (R-Ala.), Ted Budd (R-N.C.), Markwayne Mullin (R-Okla.), and Eric Schmitt (R-Mo.). As well as Texas delegation U.S. Senators John Cornyn (R-Texas), and Ted Cruz (R-Texas).

The full letter can be found here or below.

The Honorable Melissa G. Dalton

Assistant Secretary of Defense for Homeland Defense and Hemispheric Affairs

1300 Defense Pentagon

Washington, DC 20301

Dear Assistant Secretary Dalton,

Many of us have toured the southern border, and we have seen firsthand how vulnerable this Administration’s border policies have made our nation.  Today we write because we are disturbed to learn the Department of Defense is paying private landowners to store border wall materials procured under the Trump Administration instead of fortifying the southern border with those materials.

At present, over 20,000 border wall sections, otherwise known as bollard panels, lie unused at 20 project sites across southern Arizona and New Mexico.  Every day, the Department of Defense pays $130,000 to store, maintain, and secure these materials.  Since you were sworn in as the Assistant Secretary of Defense for Homeland Defense and Hemispheric Affairs a year ago, you have allowed the Department to pay over $47 million to store these panels.  The Department of Defense should not be incurring these daily charges but should be using these funds to bolster national security.  In a highly dangerous security environment for the United States, every dollar Congress authorizes for the Department of Defense should be used effectively.  This failing program clearly misses that standard.

With the support of the Defense Logistics Agency (DLA), the Department of Defense disposes of excess military property through reutilization, resale, and demilitarization programs.  We assume you are well aware of this capability since the Department used the program to transfer 1,700 border wall panels to the state of Texas early in your tenure.  It has come to our attention that only 4% of the excess bollard panel materials have been transferred.  We urge you to pursue all possible avenues to sponsor or endorse the reuse of excess Department of Defense property, including further transfer to states.

As you continue to review your handling of the southern border, please provide:

1. The Department of Defense’s internal correspondence that informed the decision to forgo the Department of Defense Excess Property Disposal process and instead pay $130,000 per day to store border wall panels.
2. The list of the individuals and/or entities the Department of Defense is paying for use of their privately-owned land to store the unused border materials.
3. An explanation of the process through which the Department of Defense contracted with private landowners to store the unused border materials, including whether there was a competitive contracting process and whether the landowners have instituted an inventory review system.

# # #

Source: United States Senator for Massachusetts Ed Markey

Letter Text (PDF)

Washington (March 16, 2023) – Senator Edward J. Markey (D-Mass.) joined 18 senators in a letter, led by Senators Elizabeth Warren (D-Mass.) and Angus King (I-Maine), to Internal Revenue Service (IRS) Commissioner Daniel Werfel and Treasury Secretary Janet Yellen, expressing strong support for Secretary Yellen’s directive for the IRS not raise audit rates for small businesses or households making under $400,000 annually and that new enforcement funds provided in the Inflation Reduction Act will focus on reducing tax avoidance by large corporations and the mega-rich. 

Senators Chris Coons (D-Del.), Bernie Sanders (I-Vt.), Alex Padilla (D-Calif.), Ron Wyden (D-Ore.), Martin Heinrich (D-N.M.), John Hickenlooper (D-Colo.), Tammy Duckworth (D-Ill.), Sheldon Whitehouse (D-R.I.), Sherrod Brown (D-Ohio), Tom Carper (D-Del.), Bob Menendez (D-N.J.), Cory Booker (D-N.J.), Ben Cardin (D-Md.), Jack Reed (D-R.I.), Richard Blumenthal (D-Conn.), Michael Bennet (D-Colo.), Tammy Baldwin (D-Wis.), and Patty Murray (D-Wash.) signed the letter. 

“We… understand that the Administration is still working on the operational plan regarding implementation of the new funding and Secretary Yellen’s directive. We ask that this plan, when finalized, continue to reflect and elaborate on your stated focus on protecting taxpayer rights and increasing enforcement for high-income individuals and large corporations,” wrote the senators. 

In response to increased funding for the IRS in the Inflation Reduction Act, Secretary Yellen directed former IRS commissioner Rettig, “that any additional resources—including any new personnel or auditors that are hired—shall not be used to increase the share of small business or households below the $400,000 threshold that are audited relative to historical levels. This means that, contrary to the misinformation from opponents of this legislation, small businesses or households earning $400,000 per year or less will not see an increase in the chances that they are audited. Instead, enforcement resources will focus on high-end noncompliance.” 

The senators expressed support for this clarity and asked the IRS to elaborate on its focus on protecting taxpayer rights and increasing enforcement for high-income individuals and large corporations. They urged the IRS to use the new funding to support tax fairness and close the tax gap caused by tax avoidance from the ultra-wealthy and large corporations, protect the rights of lower-income taxpayers, and swiftly improve taxpayer customer service and information technology. 

###

Source: United States Senator for New Jersey Bob Menendez

WASHINGTON, D.C. – U.S. Senators Bob Menendez and Cory Booker (both-D-N.J.) today announced a combined total of $2,025,817 from the U.S. Department of Housing and Urban Development (HUD) to continue offering rental assistance to families participating in the Housing Choice Vouchers and Mainstream programs. Because of insufficient funding, despite taking reasonable cost-saving measures, these Public Housing Authority’s (PHAs) would otherwise have to terminate rental assistance for families in Essex, Hudson, and Morris counties.

“Families across the state of New Jersey rely on rental assistance to keep a roof over their heads and that of their children,” said Sen. Menendez. “This $2 million in funding from the U.S. Department of Housing and Urban Development will allow New Jerseyans and their families residing in Essex, Hudson, and Morris counties to remain in their houses without fear of having their rental assistance ceased.”

“This vital funding will help New Jerseyans who rely on public housing authorities to stay in their homes and make ends meet,” said Sen. Booker. “I’m proud to see these federal funds allocated to communities across our state and know they will provide much-needed financial relief to families.” 

This federal funding has been awarded to the following PHAs:

 

• Newark Housing Authority, Essex County                                  $1,864,252
• North Bergen Housing Authority, Hudson County                      $152,034
• Bayonne Housing Authority, Hudson County                             $4,762
• Morris County Housing Authority, Morris County                       $4,769

 

Sen. Menendez has long been a leader in the fight to build more affordable housing. In March, the Senator joined a group of 17 Senate Committee Chairs and Majority Leader Chuck Schumer (D-N.Y.) in sending a letter to President Biden urging the federal government to utilize a “whole-of-government” approach to address the nation’s housing crisis.

In February, Sens. Bob Menendez and Cory Booker announced a combined $93,830,496 from the Department of Housing and Urban Development (HUD) to modernize public housing properties and for management improvements across the state of New Jersey. In January 2022, Sen. Menendez announced $1,429,328 million in federal grants from the U.S. Department of Housing and Urban Development’s (HUD) Housing Counseling Program to seven local agencies throughout New Jersey to provide funds to HUD approved housing counseling agencies to advise people on buying or renting a home, defaults, foreclosure, and other financial challenges. Sen. Menendez leads the annual appropriations letter in support of public housing funding.

 ###

Source: United States Senator for Rhode Island Jack Reed

WASHINGTON, DC – U.S. Senator Jack Reed today announced $2 million in federal funds to help older and low-income residents across Rhode Island make overdue home improvements to address health and safety hazards and help residents breathe easier.

The Healthy Homes Production Grant, which is administered by the U.S. Department of Housing and Urban Development (HUD), will help local households address common deficiencies in homes, such as improving indoor air quality. The federal funds can also be used for a variety of other safety upgrades, such as installing handrails, replacing broken steps, and fixing leaking roofs.

The Green & Healthy Home Initiative of Rhode Island (GHHI RI) will leverage this federal funding to protect families and children by reducing home-based environmental health hazards and energy costs through lead hazard reduction, asthma and household injury prevention, aging in place initiatives, and weatherization.

“Everyone should have a safe and healthy place to live. This federal funding will help the Green & Healthy Homes Initiative of Rhode Island work with eligible residents to identify and remediate hazards such as mold, poor air quality, structural deficiencies, or a lack of other safety features such as smoke and carbon monoxide alarms,” said Senator Reed, a senior member of the Appropriations Subcommittee on Transportation, Housing, and Urban Development (THUD) who made $85 million available for HUD’s Healthy Homes Initiative program in the FY 2023 Consolidated Appropriations law. “This is a targeted investment in making homes, people and communities healthier and safer.  It will make a meaningful difference for children, seniors, and families.”

“We are delighted to receive this award for our ongoing mission to ensure every family in Rhode Island has affordable access to healthy, safe and climate friendly housing. With this support, GHHI-Rhode Island and its partnership network will help to address the social determinants of health, equity and opportunity through Healthy Housing,” said Ruth Ann Norton, President and CEO of the Green & Healthy Homes Initiative. 

The Healthy Homes Production Grant Program, which is part of HUD’s Healthy Homes Initiative, launched in 1999 and is administered by the Office of Lead Hazard Control and Healthy Homes. The program builds on HUD’s commitment to building safer, more resilient, and inclusive communities for all.  This latest round of funding included 23 grant awards in 17 states, totaling more than $38 million.

Senator Reed has worked for years at the federal level to address the dangers of lead poisoning in Rhode Island by increasing funds to remediate lead-based paint hazards in homes and to improve surveillance and prevention efforts for health and safety hazards in homes. In the FY 2023 Consolidated Appropriations law, Senator Reed helped deliver $410 million for the Office of Lead Hazard Control and Healthy Homes to implement programs that will promote and advance healthy homes across the nation.

The Green & Healthy Homes Initiative is a national nonprofit organization dedicated to addressing the social determinants of health, opportunity and equity through the creation of healthy, safe, and energy efficient homes. GHHI RI began in 2011 with a compact of more than three dozen Providence-based organizations and expanded throughout the state in 2015. Currently, GHHI RI offers direct services through their Providence location that include asthma reduction, weatherization, and healthy housing measures.