Recovery
In order for our region to recover fully, we need to provide the basic services that were in place before we were struck by disaster. Just as importantly, we need to improve on those services to make our region one of the most vibrant and competitive in our nation. To do this, we need to be able to provide appropriate assistance for those who have come back to start the recovery process, and provide an avenue for those who have yet to return.
One of the major components of our regional recovery begins with healthcare. Quite simply our healthcare system costs too much – for individuals, for employers, and for providers – and it drains much needed money out of our national economy. Second, the numbers of people who lack access to basic healthcare is reaching epidemic proportions. Rising health care costs, combined with America’s worsening economic slump, have resulted in too many middle class families that can no longer afford health care for their children. If we are to engage in a true recovery, we need a system in place that provides basic healthcare to working members of our population that would be otherwise uninsured. That is why I believe that that the principles of reducing health care costs, protecting and increasing consumers’ choices, and guaranteeing access to quality, affordable health care for all Americans are vital to the recovery of our region.
Another important point on recovery to note is that although Hurricane Katrina caused the overwhelming majority of the housing crisis in our region, there were still thousands of us affected by the mortgage crisis that took place after the storm. Too many people in this district worked hard, played by the rules, but still lost their home because of the worsening subprime mortgage crisis. Subprime lending, virtually unrestricted over the past decade by local, state or federal regulation, has trapped millions of unsuspecting homeowners who sought either to purchase a larger home or to consolidate debt.
We’re in this mess because Washington failed to crack down on predatory lenders and heed the warning signs of the developing mortgage crisis. Today, America’s middle class families are now paying the price for Washington’s inaction. That’s why I’m committed to bringing change to Washington that will finally put the best interest of homeowners ahead of the interest of the mortgage industry so we can finally rebuild our housing market and restore the dream of home ownership to America’s middle class families.
Economy
Our economy is in peril and working families across the region are feeling the pinch. Today, too many of us face the prospect of losing our home or job and struggle with the high cost of gas, home heating oil, health care, and groceries. American families are justifiably uneasy about their ability to make ends meet in a declining economy. By 2010, when the Bush tax reductions are fully in place, an astonishing 52 percent of the total tax cuts will go to the richest one percent—whose average 2010 income will be $1.5 million, their tax-cut windfall in that year alone will average $85,000 each.
Property taxes around the country are increasing at astronomical rates. Since State and municipal governments set these taxes, Democrats in Congress have had to come up with innovative ways to provide relief to their constituents under the federal tax code. Currently, the only citizens benefiting from the property tax deduction are those who itemize their taxes. Estimates suggest that approximately 40% of homeowners do not itemize. Democrats Property Tax Relief Act of 2007 would allow homeowners who do not itemize to deduct their property taxes from their federal income taxes. All of America is stronger and more prosperous when our workers have good-paying jobs, access to quality health care for themselves and their families, an affordable way to earn a college education, and the right to organize. That’s why I am committed to investing in a strong and more educated workforce that has economic security and is better prepared to meet the challenges of the 21stcentury.
One way I believe we can do this is with the Earned Income Tax Credit (EITC). The EITC reduces or eliminates the taxes that low-income, married or single working people pay (such as payroll taxes). It was originally devised in part to offset the burden of Social Security taxes and to provide an incentive to work. When the EITC exceeds the amount of taxes owed, it results in a tax refund to those who claim and qualify for the credit. The size of the EITC you earn is a function of how much “earned income” you have accumulated. However, only certain things qualify as earned income under the tax code and they include: wages, salaries, tips, and net earnings from self-employment. Certain taxable income does not count and they include (but are not limited to) investment income, unemployment, and social security.
I also plan to work to strengthen retirement security without adding to the deficit. The AmeriSave Plan will increase national savings and grow our economy while helping middle-class families prepare for a brighter future. The AmeriSave Plan will expand and improve existing retirement accounts, such as 401(k)s and IRAs, so that American families can benefit from the power of compound interest while retaining Social Security’s guaranteed benefit. Under AmeriSave, nearly 100 million Americans will be eligible for the “AmeriSave Match,” which will match dollar-for-dollar the first $1,000 contributed to an IRA, 401(k), or similar retirement plan.
Crime
I have always believed that the best way to counteract the devastating effects of crime is to focus fewer resources on incarceration and more on education of our youth. In them, we have an opportunity to turn criminal offenders of tomorrow into tomorrow’s leaders. Simply put: Education is the best tool in our fight against crime.
Education
Six years ago, Congress passed the No Child Left Behind (NCBL) Act. This bill made major changes to the Elementary and Secondary Education Act (ESEA), which is the basis of federal K-12 education policy and authorizes most K-12 federal funding. However, although things have improved, NCLB needs to be amended to make it, in the words of Education and Labor Committee Chairman George Miller, “Fair, Flexible, and Funded.”
I believe that a problem with current law is that schools whose students have not made adequate achievement gains are all treated the same – with the same interventions and sanctions taking place over the same period of time. I plan to work with other lawmakers in Washington to ensure that the appropriate changes to the system take place so that all children who put forth the effort necessary to succeed are rewarded for that effort, and not lumped into a category that does not recognize their effort.
Once we have provided a system that effectively educates our youth in their developmental stages, our next task as a society is to make sure that college is affordable to our best and brightest children, regardless of their parent’s socioeconomic status.
A college education is as important today as high school was a generation ago. However, as tuition rates climb while America’s middle class gets squeezed tighter, a college education is becoming out of reach for more Americans every year. The cost of a college education has risen 40% in the last five years. Students and families have taken on more and more debt as a result of climbing tuition rates. Many other Americans are opting to skip college entirely due to the rising cost. This is something I believe should not, and cannot continue to be so. No student who wants to go to college should be denied the opportunity because it is financially out of reach.
Since becoming the Majority in Congress, House Democrats have delivered on their promise to make a college education more affordable to America’s middle class families. In 2007, Democrats made the largest investment in college financial aid since the GI Bill in 1944. The House has passed legislation to lower the interest rates on student loans, increase the value of Pell Grants, and provide colleges and universities with strategies to contain costs. I plan to continue this fight on our children’s behalf, as well as introduce creative new legislative initiatives that will further our cause.
