On Capitol Hill
Serrano Questions Bailout Proposal
As Congress rushed to pass a bailout package for Wall Street firms embroiled in the debt and credit crisis, Congressman Serrano posed a series of questions about the proposal. Serrano is Chairman of the House Appropriations Financial Services and General Government Subcommittee, which oversees the Treasury Department, among other agencies.
“There should be no doubt that I can support a responsible package that keeps the American economy from imploding. That said, I have a series of questions that I would like to pose to the public and my colleagues.”
“When a person falls on hard times and needs food stamps, we are told they lack personal responsibility. When the biggest firms on Wall Street make outrageously risky investments, and fall on hard times, why are they not held personally responsible? Why do I have a feeling no one will go to jail for this scheme even though it could cost the taxpayers far more than any financial crisis in history?
“When a government in Latin America nationalizes a corporation because it’s not serving the poor, we are told it is ‘banana-republic socialism.’ Why is it that when we nationalize a whole sector of our economy because the rich are affected, it is a must-do action to save Wall Street, our national economy and capitalism itself?
“When President Bush tells us we must pass the bill exactly as he proposed it right away or face a catastrophic event, why do I feel like I’m voting on whether to go into Iraq all over again, and worry that the results will be similarly bad?
“Why do I have the sneaking suspicion that when the next President goes to increase spending on worthy social programs, or to help the middle and lower classes struggling in a bad economy, we’ll be told that ‘we can’t afford it’ because we have to pay the debt we ran up for this bailout?
“Why did several members of my community who work hard and pay their bills come to me and say; ‘Mr. Serrano, we hear about this bailout package for Wall Street, and we have to know, who’s going to bail us out? Don’t they deserve a fair shake from the government too?
“Our economy is in crisis, but that does not mean we have to act without asking questions. It is our responsibility to ask these questions and more. And we must take a long hard look at the unspoken message we are sending when we pass this package and realize that many people will have tough questions like these.”
House Passes Credit Card Bill
This past Tuesday, the House of Representatives passed H.R. 5244, the Credit Card Holders Bill of Rights, by a vote of 312-112. The legislation helps to ban many deceptive and unfair practices of credit card companies, and provides consumers with transparency in their credit card bills.
“I am proud to be an original cosponsor to this legislation, and I commend Congresswoman Maloney for her efforts to bring this bill to the floor,” said Serrano. “I believe that credit card companies must be more forthright in the terms, fees, and rates charged to consumers. This legislation will ensure that consumers can understand why they are being charged certain fees, will help limit excessive charges that leave consumers in a cycle of debt, and will increase oversight of the credit card industry.”
The legislation now moves on to the Senate for its consideration.
House Passes Bill to Fund Government through March
On Wednesday, September 24, 2008, the House of Representatives passed H.R. 2638, the Consolidated Security, Disaster Assistance and Continuing Appropriations Act, legislation that continues funding most of the government's operations at last year’s levels. The exception is that three important security related appropriations bills, the Military Construction and Veterans Affairs, Defense, and Homeland Security Bills, were included as complete bills with higher funding levels than the previous year. Also included in this package is $22.9 billion in emergency spending for disaster relief and $7.5 billion to support a loan of $25 billion to U.S. automakers. This financing will assist them in moving towards the production of more energy-efficient vehicles.
“We have a responsibility to fund the government and I was particularly pleased that we were able to provide more robust funding for some important priorities,” said Serrano after voting in favor of the package.
Several other important items were included in this funding package. Among the priorities were an additional $2.9 billion for the Bureau of the Census to help it in its planning for the upcoming 2010 Census. In addition, with the cold winter months approaching, $2.5 billion above the 2008 funding level was added for the Low Income Home Energy Assistance Program (LIHEAP). An additional $250 million in additional dollars above 2008 funding was also included for the weatherization program to improve the energy efficiency of low-income housing. Three other important programs also were funded at increased levels: $1 billion for the Nutrition for Women, Infants and Children (WIC) program; $23.5 million for the Commodity Supplemental Food Program; and $2.5 billion for Pell Grants to help our struggling college students.
Unfortunately, the bill also lifted the ban on offshore drilling. Serrano responded to this inclusion by saying, “ I am committed to looking at this issue once again when the 111th Congress reconvenes so that we can find a sensible way to protect our fragile coastal areas.”
As chair of the Financial Services and General Government Appropriations Subcommittee, Serrano included many items that were top priorities for his subcommittee. In commenting on one of the items, the extra $20 million for the digital television conversion, he said, “We are on the verge of the transition to digital television – and funding the FCC’s efforts to get the word out is vital to preventing a potentially huge problem next year. Now is the time to educate the public...this item could not wait.”
For more details, please see the recent press release highlighting the important items that were a part of the Subcommittee’s contributions to this continuing resolution and disaster supplemental.
In the Bronx
Serrano Attends Back to School Fair
On Saturday, September 20th, Congressman Serrano presided over the second annual Hunts Point Alliance for Children’s Back to School Fair, which drew more than 1,200 South Bronx residents to Hunts Point Riverside Park. In his remarks, the Congressman applauded the Alliance for its innovative approaches to encouraging academic achievement and family literacy. Serrano was joined by parents, educators, community leaders and healthy-eating advocate Heather Mills, who announced a contribution of soy-based foods to the youth organizations in the Hunts Point community.
To acknowledge her contribution to the health and well-being of children in the South Bronx, the Congressman presented Mills with a certificate of recognition, and expressed his thanks for her generosity. The annual fall event is a collaboration of several organizations, parents associations, and local schools, including PS 48, MS 201, and The Bronx Charter School for the Arts.
Photo Courtesy of Hunts Points Alliance for Children
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| Image: Serrano with (from l to r) Alejandra Delphin and Mary Ann Hedaa of the Hunts Point Alliance for Children, Nutrition Activist Heather Mills, and Grisel Barnett, also of the Hunts Point Alliance |
Serrano's Office Hosts Non-Profit Workshop
On Wednesday, Congressman Serrano’s office hosted a workshop for more than 200 nonprofit leaders in the Bronx. The workshop focused on the topic of grassroots fundraising and was the third in a four part series designed to strengthen the nonprofit sector in the Bronx. The series is being carried out in association with the Nonprofit Coordinating Committee of New York and the Daphne Foundation.
“Wednesday’s workshop covered a very important subject, not only to nonprofit organizations in the Bronx but throughout the City right now,” Serrano said this week. “If private sector support will be harder to come by in the months and years ahead, then it will be even more important for nonprofits to seek out new and potentially innovative funding streams. This workshop focused on how to do that, and I’m glad to have played a part in putting it together.”
Grant Opportunities
Environmental Planning Grant for Seniors
Application Deadline: November 21, 2008
The Environmental Protection Agency (EPA) recently announced the availability of funding to help train older adults to become environmental leaders in their community. The Building Healthy Communities for Active Aging grant also seeks projects that can demonstrate how greenways and sustainable streets can improve the quality of life for people of all ages, while also strengthening the environment. State and local governments, private institutions of higher learning and 501(c)3 not-for-profit organizations are encouraged to apply.
For more information about this opportunity, please read the full description.
For information on other government grants, please go to: www.grants.gov.
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