For Immediate Release

May 1, 2008

Washington, DC— Today, Rep. Watson  called on all Americans to join in celebrating Asian Pacific American Heritage Month, which began on May 1. 

“This month is a special opportunity to pay tribute to the contributions of the Asian American and Pacific Islander community and to address the challenges facing the community,” said Rep. Watson.

“The AAPI community is one of the fastest growing populations,” Rep. Watson pointed out.  “An estimated 15.9 million Asian Americans and Pacific Islanders, representing a diverse community of backgrounds, cultures, and experiences, now make their homes in the United States making valuable contributions to every aspect of American life – from business to education to the arts to the military. Their unique contributions enhance the moral fabric and character of our great country.”

 “Economically, culturally, and politically, Asian Americans and Pacific Islanders are a vital part of our nation,” added Rep. Watson.

The new Democratic-led Congress has been working on improving the lives of Asian American and Pacific Islander families, along with all other American families.

In the current economic downturn, a great number of AAPI families – like other American families – are struggling to make ends meet – facing stagnant incomes and skyrocketing gas prices, food prices, college costs, and health care costs.  The New Direction Congress has responded and in February enacted a bipartisan economic stimulus package that is providing tax rebates to millions of hardworking families – with the vast majority of Asian American and Pacific Islanders receiving these rebates.

In addition, the economic stimulus package is helping the nation’s small businesses – doubling the amount small businesses can immediately write off their taxes for investments in plant and equipment this year from $125,000 to $250,000.  This will aid the 1.1 million AAPI-owned small businesses.

There is also a subprime mortgage crisis in this country – with millions of Americans now facing the possibility of foreclosure.  The Congress has enacted laws stopping the tax on phantom income when a lender forgives some part of a family’s mortgage in foreclosure and temporarily raising FHA loan limits to expand affordable mortgage loan opportunities.  Now, in May, the House is expected to pass sweeping legislation designed to ease the mortgage crisis and reduce the number of foreclosures – with experts estimating the bill could help 1 to 2 million homeowners avoid foreclosure.

In addition, last year, Congress raised the minimum wage, benefiting more than 250,000 hardworking Asian Americans and Pacific Islanders; cut the cost of college for the more than 176,000 AAPI students enrolled in degree-granting institutions; and enacted an energy security bill that will save Americans, including 15.9 million Asian Americans and Pacific Islanders, $700 to $1,000 a year at the pump.

The New Direction Congress has also been working to strengthen our national security and military readiness, provide a new direction in Iraq, and honor our commitment to our veterans and troops.  Specifically, the Congress has provided our veterans the largest increase in veterans’ benefits, including veterans’ health care, in the 77-year history of the VA; blocked health care fee increases proposed by the Bush Administration on our servicemen and women; and ensured more equipment, training, and body armor for our troops.

“I am honored to salute the more than 48,000 brave AAPI men and women who have been deployed to Iraq or Afghanistan since 2001 and the 320,000 AAPI veterans who have courageously served our country,” Rep. Watson  stated. “It is in their name that I will continue to work to ensure that this Congress honors our commitment to our troops and our veterans." 

“As we celebrate the contributions of Asian Americans and Pacific Islanders to the nation, we must rise up and take our country in a new direction to meet the challenges facing AAPI families,” concluded Rep. Watson .  “The New Direction Congress will continue to take further steps to change the way we do business in Washington, and to make America safer, strengthen our economy, and restore accountability.  Together, we can make the American dream a reality for all Americans."