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“Today’s vote is a win for Nebraska consumers. It’s high time we stepped in to protect consumers from some of the clearly abusive practices created by some credit card companies in recent years.”
~ Senator Nelson on this week’s vote for credit card reform ~
NELSON VOTES FOR CREDIT CARDHOLDERS' BILL OF RIGHTS
May 19, 2009 -- Working to protect Nebraskans from abusive credit card practices, Nebraska's Senator Ben Nelson today voted in support of the Credit Cardholders' Bill of Rights (H.R. 627). The bill was approved by a margin of 90-5.
"Today's vote is a win for Nebraska consumers," said Senator Nelson. "It's high time we stepped in to protect consumers from some of the clearly abusive practices created by some credit card companies in recent years. This legislation builds on and codifies strong Federal regulations that in some cases the industry has already begun implementing."
The bill prohibits some practices that concerned Senator Nelson, including balance payment fees; double cycle billing, which could charge consumers twice for balances that in some cases had been paid off; and universal default on existing balances, which could raise interest rates on all cards' existing balances when a consumer missed payment on just one.
The bill also prevents unfair increases in interest rates and changes in terms, prohibits exorbitant and unnecessary fees, provides enhanced disclosures of card terms and conditions by requiring 45 days of advance notice of interest rate, fee, and finance charge increases, and strengthens Federal oversight of industry practices. In addition, the bill creates safeguards for young people targeted by card companies, including college students.
A similar bill was approved by the House of Representatives last month by a similarly large bipartisan vote of 357-70. The two versions are expected to be reconciled quickly; the President has called for a final bill by Memorial Day.
NELSON SUPPORTS IMF FUNDING FOR NEBRASKA JOBS AND THE STATE'S ECONOMY
May 21, 2009 – Today, Nebraska's Senator Ben Nelson joined a majority of Senators voting to keep additional funding in the 2009 Supplemental Appropriations bill for the International Monetary Fund, which supports global financial stability, trade and growth. An amendment to strip the funding was defeated 64-30.
"We Nebraskans know well that trade and exports provide good jobs and a healthy state economy, and that we live in a global economy," Senator Nelson said. "With a global recession underway, I can't imagine why we would back away from the IMF, which exists to promote economic stability around the world."
In a May 20 letter to Nelson and other senators supporting the IMF funding, U.S. Chamber of Commerce President Bruce Josten wrote: "While American workers and companies have been hit hard, the U.S. economic recovery may be undermined by even more severe difficulties in some emerging markets. It is squarely in the U.S. national interest to support efforts to help these countries as they confront the financial crisis."
In a separate letter, a bipartisan group of former secretaries of the U.S. Treasury and State Department, including James A. Baker III, Nicholas Brady, Henry Kissinger, Colin Powell, Condoleezza Rice, Henry Paulson and Robert Rubin, also backed the Obama Administration request for the IMF funding. "A stronger and more responsive IMF is essential to the restoration of confidence in the global economy and financial system and thus to our own economic recovery," they wrote.
Senator Nelson said: "These bipartisan leaders know, as I do, that US exports have grown in recent years, due largely to rapid growth in foreign markets, including in those countries which look to the IMF to help them weather this crisis. Shrinking foreign markets means slumping exports, which could threaten our economic recovery.
"Helping other countries help themselves makes sense for a basic reason: when their economies recover, they'll buy more American goods and services," Nelson said. "That means more Americans will be working and contributing to our own economic recovery."
The funding in the supplemental bill will be leveraged four to one by governments including Japan, China, and others in Europe.
The International Monetary Fund was conceived as a needed framework for international economic cooperation to avoid a repetition of economic policies that had contributed to the Great Depression. The IMF formally launched in 1945 with its first 29 member countries and has grown to 185 countries today.
NELSON: STIMULUS FUNDS GO TO IMPROVE AIRPORT RUNWAYS
May 19, 2009 – Today, Nebraska's Senator Ben Nelson announced that the U.S. Department of Transportation (DOT) will send nearly $5 million to Omaha and O'Neill airports in Nebraska for runway rehabilitation projects as part of the American Recovery and Reinvestment Act.
"Making sure our state's airport infrastructure is safely maintained for our citizens and general aviation users is very important," said Senator Nelson. "I am glad to see funding has landed that will put people to work while further promoting airport improvements."
Eppley Airfield in Omaha will receive $3,186,758 to complete phase 4 of its 14R/32L North runway rehabilitation project, while O'Neill Airport in Holt County will receive $1,519,008 for its runway improvement projects. About 3,400 airports designated as part of the national airport system are eligible to receive Recovery Act funds. The FAA is moving swiftly to work with airport sponsors to ensure that eligible projects have completed, or nearly completed, design and planning requirements.
Under the Recovery Act, the FAA received $1.1 billion for qualified airports on a discretionary basis. That funding will be allocated based on a project priority system that addresses airport safety and security, infrastructure, runway safety, increased capacity, and mitigation of environmental impacts.
Senator Nelson played a key role in the passage of the $787 billion stimulus bill. He worked with a bipartisan group of nearly 20 Senators to better focus The American Recovery and Reinvestment Act on tax cuts for the middle class and job creation for millions of Americans. Senator Nelson led the group through the initial bill line by line, dollar by dollar, to reduce spending and cut out $108 billion of inefficient or less-stimulative spending. The bipartisan group helped the improved bill win congressional approval. President Obama signed it into law February 17, 2009.
Senator Nelson is posting information about the release of stimulus finds on his website as it becomes available. Visit http://bennelson.senate.gov/issues/stimulus/index.cfm for more information.
PRYOR, SNOWE, NELSON, WICKER SEEK SAFER HIGHWAYS
WASHINGTON D.C. – Senators Mark Pryor (D-AR), Olympia J. Snowe (R-ME), Ben Nelson (D-NE) and Roger Wicker (R-MS) today introduced legislation that would close a well-known loophole in the commercial driving industry that currently enables drug and alcohol abusers to get behind the wheel of a large truck or bus.
The senators said despite drug and alcohol testing requirements for commercial drivers, truckers can continue to drive 18-wheelers and buses even after testing positive. Factors that contribute to this problem include applicants who do not report their drug testing history to new employers, carriers who do not fully complete background checks and self-employed drivers who fail to remove themselves from service. Data shows that between 1.3% and 2.8% of drivers test positive for the presence of illegal drugs under random testing. Every year, approximately 5,500 fatalities and 160,000 injuries result from large trucks and buses.
"I don't want my family sharing the road with truck and bus drivers under the influence of drugs or alcohol. I'm sure others feel the same way. We must change the status quo to ensure these drivers can't skirt the law." Pryor said. "A national clearinghouse is a cost-effective, feasible solution to weed out bad apples and keep our roads safe."
"This legislation will finally close the current loophole that allows irresponsible individuals to tarnish the good name of motor carrier operators," said Senator Snowe, a senior member of the Senate Commerce Committee, which has jurisdiction over transportation issues. "Giving companies the ability to ensure that all operators adhere to basic safety standards is a common sense initiative that will dramatically improve the safety of American roads and highways."
"Creating a national drug and alcohol clearinghouse is a sensible approach to promote safe roads for both commercial and non-commercial drivers," said Senator Nelson. "This legislation gives trucking companies the confidence that they are putting safe drivers on the road to the benefit of those traveling our nation's highways."
"Developing a centralized database for positive drug and alcohol test results will help give employers across the country the tools they need to ensure they aren't putting drivers with substance abuse problems on our roads," Sen. Wicker said. "This is a feasible, common-sense approach to improving highway safety."
The Safe Roads Act would implement a recommendation from the Government Accountability Office (GAO) to establish a cost-effective, feasible database of drug testing information for commercial drivers. Specifically, it would authorize $5 million annually to develop and deploy the database and clearinghouse; require medical review officers, employers and other service agents to report positive results from drug or alcohol tests to the Federal Motor Carrier Safety Administration; and require employers to check the database prior to hiring prospective employees. The bill also provides for privacy protections and employee rights of actions.
NELSON: STIMULUS FUNDS GO TO IMPROVE OMAHA TRANSIT
May 20, 2009 – Today, Nebraska's Senator Ben Nelson welcomed plans announced by the U.S. Department of Transportation (DOT) that will send nearly $10 million to the Omaha area for transit improvement as part of the American Recovery and Reinvestment Act (ARRA).
"These funds will help keep the people of Omaha moving," said Senator Nelson. "With this grant, Omaha transit authorities will update aging equipment and improve Omaha area mass transit for the thousands of people who depend on it every day."
The funding will go to Omaha Metro Area Transit (MAT), which provides transit services in Bellevue, Papillion and La Vista in Sarpy County, Omaha and Ralson in Douglas County, and Council Bluffs, IA. The majority of funding will go toward the purchase of 30 new buses for the system and to overhaul engines/transmissions on 37 buses. Funds will also be used for bus support equipment including radios, fareboxes, hard drives for video storage, and bus shelters.
"MAT is very appreciative of the receipt of the ARRA funding," said Curt Simon, Executive Director of MAT. "This funding will largely be used to accelerate replacement of aging buses. In fact, 94% of the ARRA funding is being used to replace fleet that has reached its useful life and remanufacture engines and transmissions for other buses in the fleet in order to assure their reliability."
Senator Nelson played a key role in the passage of the $787 billion stimulus bill. He worked with a bipartisan group of nearly 20 Senators to better focus The American Recovery and Reinvestment Act on tax cuts for the middle class and job creation for millions of Americans. Senator Nelson led the group through the initial bill line by line, dollar by dollar, to reduce spending and cut out $108 billion of inefficient or less-stimulative spending. The bipartisan group helped the improved bill win congressional approval. President Obama signed it into law February 17, 2009.
Senator Nelson is posting information about the release of stimulus finds on his website as it becomes available. Visit http://bennelson.senate.gov/issues/stimulus/index.cfm for more information.
Nelson Network Nebraska is interested in reaching more Nebraskans. If you know of a fellow Nebraskan who would be interested in receiving this bulletin, please forward their name, telephone number and email address to us at press@bennelson.senate.gov
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