Congressman Dennis J. Kucinich, Chairman of the Domestic Policy Subcommittee of the House Oversight and Government Reform Committee, today requested documents relating to a provision in the new Yankee Stadium deal.
On October 21, a wildfire began in Witch Creek, a rural area in the foothills of San Diego. At the height of the disaster, 23 fires were burning. By the time all the fires were contained, 368,000 acres of land had been burned; 1,700 homes were destroyed; and 10 people died.
This hearing will expose and explain how Community Reinvestment Act (CRA) exams may not reflect discriminatory practices by regulated banks, including the problems associated with regulatory discretion and new bank structures that were prohibited when Congress enacted the CRA. It will also analyze the detrimental affect of non-disclosure of fair lending exams on community participation and CRA enforcement.
This hearing will examine whether or not public subsidies for professional sports stadiums divert funds and attention away from America’s public infrastructure. This is the subcommittee’s second hearing on the topic. On March 29, 2007, the Domestic Policy Subcommittee held a hearing that looked at the promises of economic prosperity that are made to cities which finance professional sports stadiums. The first hearing revealed that no evidence has been found to suggest that professional sports stadiums create jobs, raise incomes, or raise local tax revenues.
After a period of improvement, lethal and non-lethal violent crime in Baltimore is on the rise. The Domestic Policy Subcommittee hearing will examine innovative approaches to combating drug abuse, drug-related violence, and gang activity in Baltimore. The focus of the hearing will be on evaluating practical alternatives to incarceration to prevent drug use and drug-related violence.
The public justification for public financing, including construction financing with tax exempt bonds, is that this is an investment that brings jobs and consumers to a city’s downtown. Academic research on the value to economic development, however, has universally concluded that sports stadiums, convention centers and hotels do not increase economic activity in downtown areas.
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