NEWS FROM CALIFORNIA'S BORDER CONGRESSMAN!
ECONOMICS
Filner Marks 45th Anniversary of the Equal Pay Act
with Call for More Action
Announces Support for the Paycheck Fairness Act
(Washington, D.C.) – Forty-five
years ago, President John Kennedy signed the
Equal Pay Act and called it the first step in
addressing “the unconscionable practice of
paying female employees less wages than male
employees for the same job.” At that time
women earned 59 cents for each dollar earned by
a man. Over the last four and a half decades,
the wage gap between men and women has narrowed
somewhat. But working women still earn only 77
cents for every dollar earned by men.
“The wage gap is one of the most
pressing issues facing families, the economy and
women workers in particular,” Congressman Filner
said. “Unfair pay affects women whether they are
business executives or retail salespeople. It’s
a virus in the workplace that strikes women
regardless of education, occupation, race or
age.”
“Although there has been progress
on closing the wage gap between men and women,
it has been too slow,” said Filner. “Between
1963 and now, the wage gap has narrowed by less
than half a cent a year. At this rate, it would
take about another 50 years before men and women
reach parity in pay in this country.”
“Women should not have to wait
that long,” Filner stated. “Their families
cannot wait that long. Their retirement cannot
wait that long. That is why I have cosponsored
H.R. 1338, the Paycheck Fairness Act.”
The Paycheck Fairness Act builds
on the progress of the Equal Pay Act and helps
us work to end the persistent gap in the
earnings of men and women. It strengthens the
Equal Pay Act by providing more effective
remedies to women who are not being paid equal
wages for doing equal work. The bill would also
prohibit employers from retaliating against
employees who share salary information with
their co-workers.
“This is not a women’s issue –
it’s a family issue,” Congressman Filner pointed
out. “Women are often providing a significant
share of their family’s income, and in many
cases they are the sole wage-earner. I join with
many other Members of Congress in strong support
of the Paycheck Fairness Act – which I hope will
be acted upon by the House of Representatives
soon. Working women and their families deserve
equal pay for equal work.”
Congressman Bob Filner Backs Democratic Budget Plan
Washington, DC - Congressman Bob
Filner today voted for a Democratic budget plan
that charts a New Direction for our nation. It
makes investments in energy, education, and
infrastructure; provides tax relief for the
middle class; keeps our promise to our veterans;
and returns the budget to balance in five years.
The plan, a budget conference
agreement for fiscal 2009, won approval today by
the House of Representatives.
“Democrats have a plan to rebuild
our economy and reclaim our fiscal future,” said
Congressman Filner. “Our budget cuts taxes for
middle income families, invests in new
businesses and creates jobs. It restores our
infrastructure and funds the educational tools
needed to help our children succeed. We do all
of this and more, while returning the budget to
balance.”
The Democratic budget:
-
rejects the failed fiscal
policies of the Bush Administration. It
returns the budget to balance – reaching a
surplus of $22 billion in 2012 and $10
billion in 2013.
-
responds to soaring energy
costs by helping promote renewable energy,
clean fuel technology, and energy
efficiency.
-
makes education and
innovation investments that will generate
economic growth and jobs, make college more
affordable, improve student achievement, and
reverse the Bush Administration’s
under-funding of education.
-
invests in our nation’s
infrastructure - repairing crumbling roads,
bridges, transit, airports, and schools.
-
does not include any tax
increase. To the contrary, it supports
significant tax relief, including extension
of marriage penalty relief, the child tax
credit, and the 10 percent bracket, as well
as allowing for estate tax reform. It
includes an additional year of Alternative
Minimum Tax relief. And it provides for
property tax relief, energy and education
tax relief, and extenders.
-
makes our country safer by
providing robust funding for national
defense and ensuring that resources are
available to address the most critical
threats facing the nation. It ensures that
veterans get the quality health care they
need and deserve. It also protects the
homeland and rejects the President’s cuts in
law enforcement, the COPS program,
firefighters, and other first responders.
“Our nation cannot afford to
continue the policies of record deficits and
debt,” said Filner. “American families are
struggling. This budget begins the process of
recovery. I am proud to support a plan that
returns the country to a sound fiscal and
economic path.”
Filner and Castaneda Host Press
Conference
Congressman Bob Filner recently
joined Chula Vista City Councilman Steve
Castaneda and many community leaders to discuss
legislative options to assist homeowners and
communities hit by foreclosure. Filner has
introduced legislation, which was recently
passed by the House of Representatives, that
would prohibit foreclosure of property owned by
a service member for one year following a period
of military service and provide a temporary
increase in VA home loan limits.
Filner Takes Action
to Reduce Gas Prices
Washington, D.C. – Congressman
Bob Filner today outlined the series of steps
Congress has taken to help bring down the cost
of gasoline and deliver relief to drivers across
California. In recent days, Filner backed a new
law to suspend filling the Strategic Petroleum
Reserve, legislation to invest in renewable
energy sources and a plan to hold to hold
foreign oil cartels and Big Oil accountable.
“Drivers in California are paying
$4 per gallon of gasoline, a 177 percent
increase since 2001, and we are suffering at the
pump,” said Filner. “Congress has worked hard to
implement short term solutions to bring down
prices and develop a long term strategy to make
our nation energy independent.”
Congress took decisive action to
bring down the price of gas and passed
legislation to suspend the filling of the
Strategic Petroleum Reserve (SPR) through the
end of the year. This legislation was signed
into law by the President and suspensions have
lowered gas prices in the past. While President
Bush had the power to stop filling the SPR
immediately, he refused to take this step until
pressured by Congress.
An overwhelming bipartisan
majority in the House also passed the Gas Price
Relief for Consumers Act of 2008. The
legislation gives U.S. authorities the ability
to prosecute anticompetitive conduct committed
by international cartels like OPEC that restrict
supply and drives up prices. The bill also
creates a Department of Justice Petroleum
Industry Antitrust Task Force and asks the GAO
to investigate the effects on competition of
prior mergers in the petroleum industry.
House Democrats took another step
towards ending our dependence on foreign oil and
encouraging the production and use of renewable
fuels by passing The Renewable Energy and Job
Creation Act, which provides tax credits for the
production of renewable energy sources like
solar and wind energy and incentives for the
production of renewable fuels and energy
efficient products.
Finally, Congress is working to
enact the Farm Bill, which boosts homegrown
biofuel production made from biomass and crop
byproducts other than grain -- using new
technologies. Without biofuels, gas prices could
be 15 percent higher than they are now. It also
increases oversight authority to detect and
prevent manipulation of energy prices.
“For six years, President Bush
and the Republican Congress failed to give us an
energy independence plan for America,” added
Congressman Filner. “Democrats are fighting for
a new direction and an energy policy that will
reduce our dependence on foreign oil and bring
gas prices down.”
Congressman Filner
Backs Act to Promote Renewable Energy and Job
Creation
Washington, D.C. – Congressman
Bob Filner yesterday joined a majority of the
House of Representatives in support of
legislation to expand the production and use of
renewable energy, create jobs across the country
and provide tax relief to middle class families.
The Renewable Energy and Job Creation Act was
approved by the House by a vote of 263 to 160.
“High gas prices have only
highlighted the need for a real energy policy
that moves us forward,” said Congressman Filner.
“This legislation makes the right investments in
the renewable energy sources of the future,
protects our environment and will help create
hundreds of thousands of good-paying American
jobs.”
To reduce our dependence on
foreign oil and to protect the environment, the
Renewable Energy and Job Creation Act would
increase the production of renewable fuels and
renewable electricity, and encourage greater
energy efficiency. It extends and expands tax
incentives for renewable electricity, energy and
fuel from America’s heartland, as well as for
plug-in hybrid cars, and energy efficient homes,
buildings, and appliances.
Failing to extend some of these
provisions could have significant consequences
for American workers. A recent study showed that
allowing the renewable energy incentives to
expire would lead to about 116,000 jobs being
lost in the wind and solar industries through
the end of 2009.
The legislation also supports
businesses and provides tax relief to millions
of American families. The bill extends the
research and development tax credit to spur
American innovation and business investment and
cuts taxes for millions of Americans, including
teachers, college students and families in
states with no income tax. The bill would expand
eligibility for the $1,000 refundable child tax
credit and provide tax relief to homeowners who
do not itemize their deductions by permitting
them to deduct up to $700 of property taxes in
addition to their standard deduction.
“The weak economy has left
families and business across California
struggling to make ends meet,” added Filner.
“Extending the research and development tax
credit will help create jobs and giving millions
of Americans tax relief will make it a little
easier for families to get through these rough
economic times.”
The legislation is fiscally
responsible, does not add to the national debt
and closes loopholes allowing corporations and
executives to avoid U.S. taxes by shipping jobs
and investment overseas.
Filner Says:
American Flag Production Should Benefit American
Businesses
Congressman Bob Filner today
announced his introduction of legislation to
ensure that all American flags flown over
federal government buildings and on federal
property should be made in the United States.
The U.S.
Census bureau estimates that $5.3 million worth
of American flags were imported from other
countries in 2006, mostly from China. Although
U.S. law requires every flag be labeled with its
“country of origin,” the number of foreign-made
American flags has steadily grown over the past
few years.
“The American flag is much more
than our national symbol. It embodies our
courage, liberty, and justice,” said Congressman
Filner. “The flag reminds us each and every day
of the sacrifices that were made for justice and
freedom. So, as we proudly fly the Stars and
Stripes, we must ensure that they were homespun
in the United States!”
Bob Filner Backs
Plan to Bring Down Gas Prices
Washington, D.C. – Congressman
Bob Filner joined an overwhelming bipartisan
majority in the House of Representatives in
support of legislation that would temporarily
suspend the filling of the Strategic Petroleum
Reserve (SPR) until the end of the year and
bring down the cost of gasoline. The Strategic
Petroleum Reserve Fill Suspension and Consumer
Protection Act was approved by a vote of
385-25.The U.S. Senate passed a similar
provision by a vote of 97-1.
“For the last several weeks, gas
prices have hit a new record high nearly every
day and drivers in California are suffering,”
said Congressman Filner. “This legislation,
passed by Congress today, will provide immediate
relief for middle class families struggling with
high gas prices.”
Filling of the SPR takes 70,000
barrels of oil off the market each day. A
temporary suspension could reduce gas prices
from 5 to 24 cents a gallon.
The House legislation temporarily
suspends the Energy Department’s (DOE) ability
to directly purchase oil for the SPR through
December 2008, unless the price of oil drops
below $75 per barrel. The Strategic Petroleum
Reserve is roughly 97 percent full - the highest
level ever - with enough oil to meet our
national security needs.
President Bush has the power to
stop filling the SPR and Democratic leaders,
along with 16 Senate Republicans have urged the
President to take this common sense step.
Unfortunately, the President has refused to take
action and made Congressional action necessary.
Multiple Presidents, including President Bush,
President Clinton and the first President Bush
have suspended the fill or tapped oil from the
Strategic Petroleum Reserve. In 2000, after
such action, the price of oil dropped down by
one-third - from $30 to $20 per barrel.
“Given the state of the American
economy, it is unacceptable that President Bush
has failed to act to help American families and
businesses at the pump,” added Filner.
“Democrats will continue to fight to bring down
gas prices and help hard-working families who
are struggling.”
Filner Demands that
Republicans Stop Stalling on Housing Relief
Today, the House of
Representatives was scheduled to consider two
bills intended to help American families who are
loosing their homes. Unfortunately, the
Republican Minority held up consideration of
both bills, using procedural tactics to stall.
“While people in California,
including many veterans, are losing their homes,
the Republicans are playing games in Washington,
D.C.,” stated Filner, who supports the
underlying housing bills. “When it comes to
dealing with the housing crisis, the Republican
motto is delay, delay, delay….obstruct,
obstruct, obstruct.”
The Neighborhood Stabilization
Act of 2008 (H.R. 5818) would establish a loan
and grant program for the purchase and
rehabilitation of owner-vacated, foreclosed
homes. HUD allocates funds to States. The
American Housing Rescue and Foreclosure
Prevention Act of 2008 (H.R. 3221) would
modernize the Federal Housing Administration
loan program and improve oversight and
administration of Fannie Mae, Freddie Mac, and
the 12 Federal Home Loan Banks (the GSEs or
Government Sponsored Enterprises).
Everyone—homeowners, lenders,
neighborhoods, our entire economy—is worse off
when a foreclosure occurs and significant
quantities of homes are foreclosed in a short
amount of time. The housing package considered
by the House is both rescue-oriented and
forward-looking, responding directly to the
current crisis facing middle-class Americans
while providing the tools to prevent a repeat of
these problems.
Modernizing the FHA and reforming
GSEs will provide crucial liquidity to our
mortgage markets now, and strengthen regulation
and oversight for the future. These measures,
which have bipartisan support, will begin to
repair the economy, restore confidence in the
markets, limit the damage to families and
neighborhoods, and help build new affordable
housing.
Filner Announces
Investment Grant for the Imperial Valley and San
Diego Regional Economic Development Corporations
Washington, D.C. – Congressman
Bob Filner announced today that the San Diego
and Imperial Valley Regional Economic
Development Corporations have been awarded a
$225,000 grant from the United States Department
of Commerce. The grant funding will be used to
develop a Regional Economic Adjustment Strategy.
“San Diego and Imperial Counties
are geographically adjacent to one another, and
our economies are intertwined and
interdependent. We need a strategy to help
foster this relationship, and I am pleased to
announce a grant that will serve that purpose,”
said Congressman Filner. “By harnessing the
comparative advantages of each County, we can
build a stable, sustainable and unique regional
economy!”
Julie Meier Wright, President &
CEO of the San Diego Regional Economic
Development Corporation, said, “Understanding
our mega-region better will create economic
opportunities for all of us. This grant provides
an outstanding opportunity to enhance the ties
between San Diego and Imperial Counties in ways
that will benefit both.”
Timothy E. Kelley, President &
CEO of the Imperial Valley Economic Development
Corporation, pointed out, “Imperial and San
Diego counties have a long history of
cooperation. The Mega-Region Grant will quantify
the economic impacts and indentify the
opportunities that exist between our two
counties. Economies do not end at county lines
or International Borders. Through this exercise
we will foster relationships and develop
strategies which will continue across political
boundaries and that will transcend the life of
this grant.”
This joint investment in the San
Diego Regional Economic Development Corporation
and the Imperial Valley Economic Development
Corporation supports development of a regional
economic adjustment strategy for San Diego and
Imperial counties. The funding will promote
updated strategies to diversify the region's
economic base which has been impacted by
military base closures, corporate restructuring
and natural disasters.
On Equal Pay Day,
Filner Calls for Closing The Wage Gap Between
Women and Men
This Week, The 110th Congress Will
Attempt to Complete Final Action and Send to the
President’s Desk the Lilly Ledbetter Fair Pay
Act
On April 22, 2008, Equal Pay Day,
Congressman Bob Filner stated that ensuring
truly equal pay for equal work must be a top
priority for American families. Equal Pay Day is
the day when the wages paid to American women
“catch up” to the wages paid to men from the
previous year. In other words, because the
average woman earns less, she must work longer
for the same amount of pay.
“Thirty-five years have passed
since President John F. Kennedy signed the Equal
Pay Act into law in 1963,” pointed out
Congressman Filner. “And yet, in many cases,
there is still not equal pay for equal work in
this country.”
In 1963, when the Equal Pay Act
was signed, women who worked full-time,
year-round made 59 cents on average for every
dollar earned by men. In 2006, women earned 77
cents for every dollar earned by men. That is
progress – but it is slow progress. It means
that the wage gap has narrowed by less than half
a cent per year.
“Equal pay is not just a women’s
issue, it’s a family issue,” said Filner. “The
wage gap hurts everyone – husbands, wives,
children, and parents – because it lowers family
incomes that pay for essentials: groceries,
doctors’ visits, and child care. When women earn
more the entire family benefits, which is why
closing the wage gap must be an integral part of
strengthening America’s families.”
“This week, the New Direction
Congress will mark Equal Pay Day by bringing the
Lilly Ledbetter Fair Pay Act to vote on the
Senate floor and sending it directly to the
President’s desk,” said Filner. “The House
passed the bill last July. The bill is critical
to restoring a basic protection against pay
discrimination for American workers. It
rectifies a May 2007 Supreme Court decision that
overturned longstanding precedent and made it
much more difficult for workers to pursue pay
discrimination claims.”
In May 2007, in the 5-4 decision
of Ledbetter v Goodyear, the Supreme Court ruled
that a worker must file a charge of pay
discrimination within 180 days of the employer’s
initial decision to pay someone less for
discriminatory reasons. This opinion ignores the
realities of the workplace – where workers may
go for years without knowing that they are being
paid less than comparable employees. This bill
rectifies the Supreme Court decision by
restoring the longstanding interpretation of
civil rights laws, under which as long as a
worker files within 180 days of a discriminatory
paycheck, their charges are timely.
“I am also an original co-sponsor
of the Paycheck Fairness Act,” Filner added.
“This bill would strengthen the Equal Pay Act of
1963 by providing more effective remedies to
women who are not being paid equal wages for
doing equal work. The bill would also require
the Department of Labor to enhance outreach and
training programs to work with employers to
eliminate pay disparities and would create a new
grant program to help strengthen the negotiation
skills of girls and women.”
“Ensuring that women receive
equal pay for equal work is a common-sense issue
that affects all working women and their
families,” Congressman Filner concluded. “By
eradicating unfair treatment in the labor
market, we can help families gain the resources
they need to ensure that their children have
access to a better future.”
This Tax Day, Filner
Backed Plan to Protect Taxpayers, Promising
Reinvestment in America
Washington, D.C. – As taxpayers
in California completed their tax returns,
Congressman Bob Filner joined a majority in the
House of Representatives in support of the
Taxpayer Assistance and Simplification Act and
vowed to fight to ensure American tax dollars
are used to rebuild America, not Iraq.
Americans have already spent $45
billion rebuilding Iraq and the war costs our
nation $10.3 billion a month, or about $4,000 a
second. The typical American taxpayer’s entire
federal tax bill pays for less than one half of
one second of the cost of the war in Iraq.
Additionally, the Defense Contract Audit Agency
believes that there have been more than $10
billion in questionable or unsupported costs in
Iraq contracts.
“Taxpayers in California know the
tax dollars they sent in yesterday will be sent
straight to Iraq,” said Filner. “America has
spent billions of dollars on the war in Iraq
while our needs at home have been ignored. It’s
time to invest in America again.”
In addition to continuing the
fight for a new direction in Iraq, Congressman
Filner backed legislation yesterday that will
help put the tax code back on the side of middle
class families. The Taxpayer Assistance and
Simplification Act was passed by the House
yesterday in a vote of 238 to 179.
The bill takes action on behalf
of America’s taxpayers. The legislation will
stop taxpayer harassment by ending the private
collection of federal taxes. Today’s Washington
Post reports that this practice costs the IRS
$37 million more than it generates. The
legislation also strengthens taxpayer
protections from identity theft and tax fraud,
simplifies cell phone tax reporting and expands
tax help for low-income taxpayers.
The Taxpayer Assistance and
Simplification Act also includes measures to
make the tax code easier to use and understand.
Currently, the tax code contains more than
seven hundred provisions affecting individuals
and more than fifteen hundred affecting
businesses – a total of more than 1.4 million
words. All told, tax laws are four times as
long as the book War and Peace. The confusing
tax code costs taxpayers more than $1 billion
annually because taxpayers make the wrong
decisions on tax forms. The bill passed today
strengthens IRS outreach and assistance efforts
to help ensure taxpayers know they are entitled
to tax refunds or to payments under the Earned
Income Tax Credit.
The legislation also takes steps
to close egregious corporate loopholes and stop
federal contractors from using foreign
subsidiaries to evade Social Security and other
employment taxes. Currently, companies,
including KBR, avoid paying their fair share of
Social Security and Medicare taxes by creating
shell companies in the Cayman Islands. The
Taxpayer Assistance and Simplification closes
this loophole, which costs American taxpayers
almost $100 million a year.
“For too long, the tax code has
given big businesses every advantage and left
middle class families to fend for themselves,”
added Filner. “I was proud to back legislation
that will make companies pay their fair share
and help ensure taxpayers, who play by the
rules, get the assistance they need and
deserve.”
Reinvestment Task
Force and FHLBank San Francisco, Working with
Rep. Filner, Hold Foreclosure Workshop in San
Diego
Author
: Federal Home Loan Bank of San Francisco
SAN DIEGO,
April 12 /PRNewswire/ -- The Federal Home Loan
Bank of San Francisco (FHLBank San Francisco)
and the Reinvestment Task Force, working with
Rep. Bob Filner (CA-51st), today co-sponsored a
Foreclosure Prevention Workshop that provided
counseling for homeowners in danger of losing
their homes.
The workshop was part of the Smart Money Summit
and Expo, which focused on a wide range of
consumer financial issues. The Expo was held at
the San Diego City Concourse in cooperation with
San Diego City Councilman Anthony Young and
County Supervisor Ron Roberts.
With many homeowners concerned about rising
monthly mortgage payments caused by interest
rate resets on adjustable rate mortgages,
FHLBank San Francisco worked with the
Reinvestment Task Force and the U.S. Department
of Housing and Urban Development to provide
counseling to homeowners who may be facing
foreclosure. Several institutions that are
members of the FHLBank San Francisco also
participated in the workshop, including
Citibank, N.A., San Diego National Bank, and
Washington Mutual Bank.
"As you know, home foreclosures hurt everyone:
individual families, our community and the
lenders," said Congressman Bob Filner. "In my
Congressional District alone, experts have
estimated a billion dollar loss in home values
for 2008! During this crisis, it is absolutely
necessary that San Diegans have access to
accurate information and counseling services to
help them keep their homes. We must act now at
every level to stop the trend, and I applaud the
efforts of FHL Bank San Francisco for helping
organize the Smart Money Summit and for
providing valuable information to consumers."
Lawrence H. Parks, Senior Vice President of
Legislative & Regulatory Affairs at FHLBank San
Francisco, said the Bank is working with its
member institutions to hold Foreclosure
Prevention Workshops.
"Our region has been hard hit by the housing
crisis," Mr. Parks said. "We have many
homeowners who cannot afford the higher monthly
payments after their loans reset. But families
and individuals need to know that there are
options available that can help them keep their
homes."
Moreover, Mr. Parks noted that FHLBank San
Francisco will soon launch a $10 million program
to help reduce the region's growing number of
home foreclosures. The Homeownership
Preservation Subsidy (HPS) is a set-aside
program that will offer long-term solutions for
low- to moderate-income homeowners by
encouraging lenders to rework eligible
mortgages. Bank member financial institutions
will be able to use HPS funds to restructure
qualifying adjustable rate mortgages into
affordable fixed rate 30-year loans. The Bank
will provide up to $1 in HPS funds for every $2
provided by the member, up to a maximum amount
of $25,000 in HPS funds per restructuring.
The
Credit Cardholders’ Bill of Rights:
Balanced Reform
Stops Industry Abuses and Improves Disclosure,
While Fostering Fair Competition and Free Market
Values
WASHINGTON, DC – Congressman Bob
Filner joined with Congresswoman Carolyn B.
Maloney, Chair of the House Financial Services
Subcommittee on Financial Institutions and
Consumer Credit, to introduce the “Credit
Cardholders’ Bill of Rights Act of 2008”
(H.R. 5244). This comprehensive credit card
reform legislation is aimed at leveling the
playing field between credit card companies and
consumers. If passed, it will abolish major
industry abuses that unfairly hurt consumers,
while fostering fair competition and free market
values.
“A credit card agreement is
supposed to be a contract, but in recent years
cardholders have lost the ability to say no to
unfair interest rate hikes and fees. This
common-sense bill simply levels the playing
field between card companies and cardholders
while fostering fair competition and free market
values,” said Congressman Filner.
“There is no doubt that credit
card companies provide a valuable service and
deserve to earn a fair profit, but consumers
deserve the right to understand their accounts
and to control them. Regrettably, regulators and
law makers have failed to adequately protect
consumers in recent years. This bill would give
cardholders the information and rights they
deserve to make decisions about their own
credit,” Filner continued.
·
The Credit Cardholders’ Bill of
Rights:
·
Protects cardholders against
arbitrary interest rate increases
·
Prevents cardholders who pay on
time from being unfairly penalized
·
Protects cardholders from due
date gimmicks
·
Shields cardholders from
misleading terms
·
Empowers cardholders to set
limits on their credit
·
Requires card companies to fairly
credit and allocate payments
·
Prohibits card companies from
imposing excessive fees on cardholders
·
Protects vulnerable consumers
from fee-heavy subprime credit cards
·
Requires Congress to provide
better oversight of the credit card industry
·
Contains NO rate caps, fee
setting, or price controls
For a one-page summary of
the bill’s main provisions,
click here. To read the entire bill,
click here.
The Credit Cardholders’ Bill of
Rights already has over 80 bipartisan
cosponsors. It is the result of numerous
hearings and meetings aimed at determining the
best way Congress, federal regulators, and
credit card companies could work together to
improve consumer protections for credit
cardholders.
Bipartisan Economic
Stimulus Plan Signed Into Law, 14.7 Million In
California To Receive Tax Cut
Tax Rebate Checks Could Arrive As Early As
Mid-May
Washington, D.C. –
Congressman Bob Filner today praised the
enactment of a bipartisan economic stimulus plan
after President Bush signed the Recovery Rebates
and Economic Stimulus for the American People
Act. 14.7 million families in California will
receive tax rebates of up to $1,200 per couple,
plus $300 per child as early as mid-May. By
getting money into the hands of America’s
families and small businesses, the plan is
expected to add 500,000 jobs to the economy.
“Democrats,
Republicans and the President worked together to
deliver real relief to American families. I hope
that this new collaboration will set a precedent
and lead to increasingly successful
bipartisanship and real action to improve the
quality of life in the United States,” said
Congressman Filner. “The plan signed into law
today will give our economy a boost, create jobs
and make it easier for families to make ends
meet.”
The plan will
provide a tax rebate for the low and
middle-income families who are being hit hardest
by the economic downturn. More than 130 million
families, including 35 million families across
the country who work but make too little to pay
income taxes will receive a tax rebate. The plan
will also provide recovery rebate checks to 28
million households of senior citizens and
disabled veterans.
The bipartisan
legislation also includes tax cuts for small
businesses, doubling the amount small businesses
can immediately write off their taxes for
capital investments, and encouraging investments
in new equipment. Additionally, the plan offers
immediate tax relief for all businesses that
invest in new plants and equipment by speeding
up depreciation provisions, so that firms can
write off an additional 50 percent for
investments purchased in 2008.
“Small businesses
create jobs and power our economy,” added
Filner. “Our plan will create 500,000 jobs and
give these businesses the chance to expand and
hire more workers.”
In addition, the
bipartisan plan includes provisions to help
families avoid losing their homes to
foreclosure. The bill expands affordable
mortgage loan opportunities for families at risk
of foreclosure through the Federal Housing
Administration. To enhance credit availability
in the mortgage market, the measure also
includes a one-year increase in the loan limits
for single family homes from Fannie Mae and
Freddie Mac.
Filner Rejects
President’s Budget
Congressman Bob
Filner (CA-51) today released the following
statement regarding President Bush’s Fiscal Year
2009 Budget.
“The President’s
budget includes a few bright spots, such as
$110,362,000 for the U.S. Courthouse Annex in
San Diego, as well as an additional $58,910,000
for construction of the new San Ysidro Land Port
of Entry. However, as a whole, the budget sets
the wrong priorities for this nation and should
be rejected!
“His budget would
add another $407 billion to the national debt
and continue his tax cuts for the wealthiest
Americans. It would not fix the Alternative
Minimum Tax that will increasingly burden
middle-class families. He also continues to
underestimate the cost of his war in Iraq, while
cutting health care, education, and housing
programs in our own country.
“The good news is
that the President’s budget request is not
final, and we in Congress will have a say in the
final budget and appropriations measures. As
Chairman of the House Veterans’ Committee, I
intend to oppose his proposed fee increases on
veterans seeking medical treatment. I will also
be working to ensure that domestic priorities
like education, health care, and housing are
adequately funded.”
Congressman Filner
Introduces Legislation to Cut Taxes on Senior
Citizens!
Congressman Bob
Filner Recently Introduced H.R. 4254, the “Fair
Taxes For Seniors Act,” A Bill that Would
Provide Financial Relief to Our Nation’s Senior
Citizens.
The “Fair Taxes
for Seniors Act” would provide a one-time
increase in the capital gains tax exemption on
the sale of a home for citizens who are 50 or
older. “While home prices have decreased from
their all-time high, the tax burden is still
there for senior citizens who have lived in
their home for many years. Passing this bill
would give many seniors the additional money
they need for nursing home care, medical costs,
and other retirement expenses,” said Congressman
Filner.
Filner continued:
“The current capital gains tax exemption works
well for younger people who often move from job
to job, selling their homes. The current
exemption works well for people who live in
areas where housing prices are below average.
But it is not working for individuals who have
lived in one home for 20 to 50 years and have a
capital gain that is much larger than the
present exemption. In other words, it is not
working for seniors who live in areas
with higher housing prices and end up
paying thousands in capital gains taxes.”
Filner’s bill
would provide a one-time increase in the amount
that can be excluded from the sale of a
principal residence for taxpayers who have
reached the age of 50. The increase would be to
$500,000 for a single person and $1 million for
a couple.
“Let us help our
citizens over age 50 who have lived in one home
for many years and who need the proceeds from
the sale of their home for retirement and health
care costs. An added benefit is that family
members and perhaps the government may be
relieved of the burden of caring for these
individuals as they grow older,” Filner
concluded.
Congressman Filner
Votes for Middle Class Tax Relief New
Legislation Provides Tax Relief for 30,487
Households in the 51st Congressional District
Washington, D.C. –
Congressman Bob Filner today voted for
legislation that offers more than $50 billion in
middle-class tax relief and saves 30,487
households in the 51st Congressional District
from paying higher taxes under the Alternative
Minimum Tax. The Temporary Tax Relief Act is
fiscally responsible and fully paid for and was
approved by a vote of 216 to 193.
“Families in
California have seen the cost of health care,
gasoline and a college education skyrocket while
their homes have lost value. I was proud to vote
for a plan that cuts taxes for middle class
families and saves 30,487 households in the 51st
Congressional District from paying the
Alternative Minimum Tax.”
The Alternative
Minimum Tax was originally designed to ensure
very wealthy individuals do not avoid paying
income tax. The tax now threatens to impact
middle-class families and raise taxes on 23
million Americans if Congress fails to take
action.
The Temporary Tax
Relief Act of 2007 protects 23 million
middle-class families from being hit by the
Alternative Minimum Tax and includes a series of
other provisions that provide tax relief to
working families. The bill:
• Provides 30
million homeowners with property tax relief
• Helps 12
million children by expanding the child tax
credit
• Benefits 11
million families through the State and local
sales tax deduction
• Helps 4.5
million families better afford college with the
tuition deduction
• Saves 3.4
million teachers money with a deduction for
classroom expenses
• Provides
thousands of American troops in combat with tax
relief under the Earned Income Tax Credit.
The Temporary Tax
Relief is fully paid for and will not add to the
deficit and will grow our sagging economy with
tax relief to promote innovation and high-paying
jobs.
“Democrats have
brought fiscal responsibility back to
Washington: the days of borrow and spend are
over,” added Filner. “Our legislation is
fiscally responsible and won’t add a single
penny to the deficit.”
The legislation
also restores fairness to the tax code and
closes wasteful tax loopholes. The Temporary Tax
Relief Act closes tax loopholes that allow the
privileged few on Wall Street to pay a lower tax
rate on their income than other hardworking
Americans, such as teachers and firefighters.
Additionally, the bill prevents Wall Street
hedge fund managers and corporate CEOs from
escaping income taxes by using offshore tax
havens as unlimited retirement accounts, while
middle-class families play by the rules and pay
their fair share of taxes.
Congressman
Filner Champions A Fair Social
Security Increase
Congressman
Bob Filner announced his support for The
Consumer Price Index for the Elderly Act
(H.R. 2032), which will take into account
the different buying habits of seniors to
ensure a fair Cost of Living Adjustment
(COLA) in Social Security benefits. While
the basis for the yearly Social Security
COLA is somewhat difficult to explain, it is
linked to the rise in the yearly Consumer
Price Index (CPI), determined by the Bureau
of Labor Statistics (BLS) through a study of
the price of a number of goods and
services.
"Unfortunately, this traditional CPI does
not take into account the cost increase of
many items purchased by senior citizens,"
said Congressman Filner. "Most seniors
spend a great deal on medical care, for
example. Seniors' medical costs have risen
an astounding 270.6% over the 25 years that
have been measured, and 21.6% from 2001-2004
alone, an average of 4.3 times the rate of
inflation!"
Because their
buying habits are quite different from the
younger public, the BLS has developed an
experimental CPI for the elderly. Over the
past 25 years, the price of goods bought by
the general public (their CPI)) rose by
110.4%, and the elderly CPI rose by 121.8%.
"This over 11%
difference would have provided a much larger
COLA for seniors, many of whom are living on
a limited income," said Filner. "By basing
the Social Security COLA on the Senior CPI,
we would ensure a fairer increase in Social
Security benefits, and I will be fighting
for the passage of this bill!"
Congressman
Filner Fights Against Predatory Credit
Card Practices
Congressman
Bob Filner has co-sponsored H.R. 2146, the
Universal Default Prohibition Act. Universal
default is the popular term for a practice
that allows creditors to increase the
interest rate on your credit card to the
default rate, up to 32.24%, even when you
haven't missed a single payment on your
card! The practice has been increasing in
the past few years, causing a large burden
on families already experiencing financial
hardship.
"These
companies should not be allowed to penalize
you if you have done nothing wrong and paid
your bill on time." Congressman Filner said,
"This legislation will be a wake up call
that credit card companies should review
their practices and ensure people are
getting a fair deal."
Once a
universal default rate has been issued on a
credit card, regardless of identity theft or
error, the credit card company has no
obligation to reduce the interest rate. The
company is also under no obligation to
notify the card holder about the increased
interest rate. Consumers are advised to
carefully review their monthly bills and
notify their credit card company immediately
of any errors or fraudulent activity.
Congressman
Filner Votes for Fiscally Responsible Budget, with
Right Priorities for California Families
Congressman
Bob Filner announced the House passed a
fiscally responsible budget with the right
priorities for America's families. "I am
proud to have voted for this budget," stated
Congressman Filner. "This budget restores
fiscal responsibility and accountability,
strengthens our national defense, and
inv
