After 400 Days, Still No Jobs Plan
After more than 400 days in the majority, House Republicans have failed to put forward a clear plan to create jobs or strengthen the middle class. Instead, they have introduced legislation that would potentially destroy 2 million jobs.
Democrats have a different path. We remain focused on our immediate priorities:
- Extending the payroll tax cut for 160 million Americans,
- Extending unemployment benefits for the millions of Americans who lost their jobs through no fault of their own
- Ensuring tens of millions of seniors can continue to see the doctor of their choice under Medicare.
We are committed to reigniting the American Dream and rebuilding the pillars of America that have made our economy strong: small businesses, entrepreneurs, and an all-inclusive and thriving middle class.
Congresswoman Pelosi meets with alumnae of the Delta Sigma Theta Sorority from San Francisco and other western states.
National Mortgage Settlement
On Thursday, the Obama Administration and state attorney general’s from across the nation announced a $25 billion settlement addressing servicing and foreclosure abuses by the country’s five largest banks. The agreement will provide relief to many homeowners at risk of foreclosure, with Californians set to receive as much as $18 billion for principal reduction and refinancing opportunities for homeowners with negative equity, assistance to unemployed homeowners, and other initiatives to stem the foreclosure crisis in the state.
This multi-state mortgage settlement is a positive step forward for homeowners in California and across the country. Though limited in its reach, this agreement will help move us towards a more stable housing market and, in doing so, strengthen our economy.
I commend the Obama Administration, California Attorney General Kamala Harris, and state leaders for their hard work and their commitment to protect middle class families. Congress must remain vigilant and ensure that mortgage servicers hold up their end of the bargain so we can bring immediate relief to families who need it most.
Restoring Transparency and Fairness to our Political Process
Two years ago, the Supreme Court’s decision in Citizens United v. FEC overturned a century of common-sense campaign finance laws and allowed unlimited corporate and special interest donations into our political campaigns. This week, Representative Van Hollen and House Democrats introduced the Disclosure of Information on Spending on Campaigns Leads to Open and Secure Elections Act of 2012 (DISCLOSE 2012 Act). Passed by the House during the 111th Congress, the DISCLOSE Act would restore transparency and accountability to our campaigns.
To shine a light on the money in politics, the DISCLOSE 2012 Act will:
- Require public reporting by corporations, unions, Super PACs and other outside groups to the Federal Election Commission within 24 hours of making a campaign expenditure or transferring funds to other groups for campaign-related activity (of $10,000 or more).
- Require corporations and other outside groups to stand by their campaign ads -- with their leader and top financial contributors disclosed in the ads.
- Require corporations and other outside groups to disclose campaign-related spending to shareholders and organization members.
- Require lobbyists to disclose campaign-related expenditures in conjunction with their lobbying activities.
We must restore transparency and fairness to our political process, returning political power and influence to our nation’s voters. We must work together to protect the rights of all citizens and preserve the integrity of our democracy.
Please feel free to forward this information to your family and friends. To learn more about these efforts, to express your views, or to sign up for email updates, please visit my website. I am also on Twitter at http://twitter.com/NancyPelosi.
