Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today issued the following statement after the Bush Administration announced a plan to provide assistance to Citigroup:

“Our financial system is facing unprecedented challenges.  More than a million Americans have lost their jobs this year alone, millions of homeowners are facing foreclosure, and hundreds of billions of dollars in retirement savings and investments have evaporated.  Significant steps must be taken to stabilize our markets and get credit flowing again.  In that context, I understand the actions taken by the Administration with regard to Citigroup.  I look forward to reviewing the details of the plan.”

Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today issued the following statement after President-Elect Obama announced several nominations for his economic team and outlined an economic recovery plan:

“I commend President-Elect Obama for announcing his economic team and for outlining a strong proposal for economic recovery.  These actions demonstrate that he is moving quickly and responsibly to address our nation’s economic crisis.  I look forward to considering these nominations swiftly and deliberately in the Banking Committee, and will work with my colleagues to ensure that these and other nominees are reviewed without delay.”

Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today issued the following statement on the nomination of Neil Barofsky to be Special Inspector General Committee for the Troubled Asset Relief Program.  Having officially received the nomination on Monday, Dodd convened the Committee for a hearing just two days later.  The nomination was cleared by members of the Senate Banking Committee, the leadership of the Senate Committee on Homeland Security and Governmental Affairs, and all Democratic Senators.  However, the nomination was blocked on the floor by at least one Republican member.

Senators Chris Dodd (D-CT) and Orrin Hatch (R-UT) today introduced the Best Buddies Empowerment for People with Intellectual Disabilities Act of 2008.  This bill seeks to expand the acclaimed Best Buddies program through federal grants, allowing the organization to raise awareness of their services and ultimately help many more Americans living with intellectual disabilities learn valuable social skills, obtain job coaching, and become more independent members of their communities.

Baucus, Kennedy, Grassley, Enzi, Rockerfeller, Hatch, Dodd met today to discuss prospects for advancing legislation in 111th Congress

Leaders of the Senate Finance Committee and the Health, Education, Labor, and Pensions (HELP) Committee committed today to work together early in the 111^th Congress toward comprehensive health care reform.  Finance Chairman Max Baucus (D-Mont.) and HELP Chairman Edward Kennedy (D-Mass.) were joined at an afternoon discussion in the U.S. Capitol by Finance Ranking Member Chuck Grassley (R-Iowa) and HELP Ranking Member Mike Enzi (R-Wyo.), as well as Finance Health Care Subcommittee Chairman Jay Rockefeller (D-W.Va.), Health Care Subcommittee Ranking Member Orrin Hatch (R-Utah), and HELP Children and Families Subcommittee Chairman Christopher Dodd (D-Conn.).  The Senators issued a brief statement following the meeting today:

Senator Chris Dodd (D-CT) released the following statement in response to news reports that Connecticut exports have grown over the last year:

“This is welcome news during these tough economic times. Connecticut’s workers are among the best in the country and the products and services they produce continue to be in high demand around the world.  I will continue to fight to ensure that our business community has the resources and tools it needs to continue to grow and prosper in this difficult economy.”

Senators Chris Dodd (D-CT) and Hillary Rodham Clinton (D-NY) today responded to the Department of Labor’s (DOL) announcement of new Family and Medical Leave Act (FMLA) regulations.  Dodd and Clinton are the authors of a provision signed into law last year that allows the family of wounded military personnel to take up to 6 months of unpaid leave, expanding on the 12 weeks of unpaid leave provided by the FMLA. 

Senators Chris Dodd (D-CT) and Joe Lieberman (ID-CT) announced today that the Waterbury Fire Department has been awarded federal grants totaling $648,000. The funds will go toward improving operations and safety at the facility and for vehicle acquisition. The grants were made possible by the U.S. Department of Homeland Security’s Assistance to Firefighters Grants (AFG) program, which provides assistance to first-responder programs nationwide with the aim of better equipping first-responders to protect the health and safety of the public, as well as that of the first-responders themselves. In fiscal year 2008, the AFG program has provided approximately $500 million in nationwide grants.

As recent news reports show that foreclosures in Connecticut have risen 134% in the month of October, Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, held an oversight hearing today on the implementation of the Emergency Economic Stabilization Act, focusing on foreclosure prevention efforts, ensuring that lenders are using the federal funds for lending, and executive compensation policies.

"I appreciate the Treasury Department’s willingness to adjust to the current situation in our financial markets.  I am also gratified that they listened to Congress when we insisted on including alternative strategies, such as liquidity injections, in the financial rescue legislation.  It is alarming to imagine how limited the Treasury’s options would be if Congress had not made substantial changes to their three page proposal."