“Although it is clear that more comprehensive legislation is needed to bring about sustainable economic growth and relief for the insular areas, I believe this legislation will alleviate some of the economic difficulties we are facing,” Congressman Faleomavaega said.

       “H.R. 2826 would specifically require all federal agencies to waive any requirement for local matching funds up to $500,000.  For grants requiring matching funds, including in-kind contributions, of more than $500,000, $500,000 of the matching requirement shall be waived.”

       “This legislation is critically needed because unlike the 50 states, the insular areas do not have the financial resources to meet the matching fund requirements as required by federal law.  As a result, we are often unable to apply for federal grants that we need to address critical issues like health and education,” the Congressman said.

       “H.R. 2826 recognizes our need by waiving matching requirements of up to $500,000 and waiving the first $500,000 of grants requiring matching funds of more than $500,000.  H.R. 2826 also contains provisions to ensure that federal agencies conform to this requirement.”

       “As our Nation continues to face increased budget constraints as a result of the war on terrorism, the enactment of H.R. 2826 is extremely important to ensuring our economic growth and development.  This legislation deserves the full support of Congress and I am hopeful that it will draw additional attention to our insular needs,” Faleomavaega said.

       “I thank Congressman Underwood for his work on this important piece of legislation and I also thank our friend from the Virgin Islands, the Honorable Donna Christensen.  I also appreciate the Congressman Rahall’s unfailing support of the insular areas and I thank Chairman Hansen for honoring my request to mark-up this critical piece of legislation at this time. 

       “I am hopeful that as a result of our collective efforts, we will be able to move this legislation through the House and Senate,” the Congressman concluded.