-- Randy’s Roundup --

A Weekly Newsletter from Congressman Randy Neugebauer

September 15, 2008

Energy Vote Expected Later This Week

I expect the House will vote on energy legislation later this week, but we are still waiting for more details about the bill.  One of the biggest questions is whether House leaders are willing to work across the aisle to pass legislation to increase our supply of energy that is supported by a majority of Americans or whether they will just go through the motions to say Congress had a vote.

Congress must have a full and open debate on energy solutions from a wide range of energy sources.  From the information I have so far on this bill, I’m afraid it doesn’t open up enough new exploration and also contains new taxes and mandates.  That approach is not going to get the job done.

Any bill I can support needs to open up sizeable new domestic energy production, extend the wind production tax credit, reduce regulatory barriers to nuclear power and refinery expansion and help achieve affordable and accessible new sources of renewable energy and energy efficiency.

Congress has heard from the American people that they want us to work on solutions to increase the supply of energy produced here at home so we can stop sending billions of dollars to other countries to buy energy.  Congress needs to act in the best interest of the American people and pass meaningful energy policy.

House Passes Bill to Support Rural Veterans

I am very pleased the House was able to work together last week to pass the Rural Veterans Access to Care Act, which I cosponsored.  This bill will enable rural veterans enrolled in the VA health system to receive care locally rather than traveling long distances to VA facilities. Many Texas veterans living in rural areas will be part of the demonstration project authorized by this legislation.

The Rural Veterans' Access to Care Act, would establish a three-year pilot program in several rural regions of the country to allow the most underserved rural veterans to take advantage of existing rural health providers, such as local hospitals, community health centers and rural health clinics

To qualify, a veteran must live at least 60 miles from a VA primary care facility like an outpatient clinic, 120 miles from a VA hospital or 240 miles from a VA specialized care facility when seeking that care.

Now that this bill has passed the House, it is up to the Senate to act to send this commonsense legislation to the President’s desk.  I hope the Senate will act on this needed legislation this year.

Your Financial Security

When we see reports in the news about difficulties that different financial institutions are having, the first question many of us may have is, “How secure is my money”?  The good news is that our local and state economy and financial institutions are not experiencing the same problems that other areas of the country are.  In addition, protections are in place for account holders, customers and investors.

When it comes to investments, the federal Securities and Exchange Commission protects customers in many circumstances.  For examples, customers of Lehman Brothers have their investment accounts protected through insurance by the Securities Investor Protection Corporation.

The Financial Industry Regulatory Authority (FINRA), the non-governmental regulator for securities firms, provides more information on investor protections, as well as educational resources regarding savings and investing: http://www.finra.org/Investors/index.htm.

For bank deposits and accounts, federal deposit insurance covers your combined checking, savings, money market or certificate of deposit accounts up to $100,000.  Joint accounts are protected up to $100,000 per owner, and IRAs are protected up to $250,000. For more information about bank account coverage, you can visit http://www.fdic.gov/deposit/deposits/.  Credit union accounts are similarly protected.

As a member of the House Financial Services Committee, I am following our nation’s financial market situation very closely.  My first objective is protection of the taxpayers.  I also believe our financial system must be stable for the long term in order to support savings and investment, allow consumers and businesses to access credit and keep America competitive.

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As always, when events unfold in Washington, I will be sure to update you. In the meantime, do not hesitate to visit my website or call my office toll free district wide at (888) 763-1611 or my Washington, DC office at 202-225-4005.