The Serrano Report, Vol. VI, #32
On Capitol Hill
Congress Extends Unemployment Insurance
On Thursday, the House of Representatives passed H.R. 3548, the Worker, Homeownership, and Business Assistance Act of 2009, by a vote of 403 – 12. The President is expected to sign the bill into law today, which will then extend unemployment benefits by 14 weeks for jobless workers nationwide, with an additional six weeks for those in high unemployment states. Currently, 25 states, including New York, qualify as having high unemployment. Without this legislation it is estimated that nationwide more than 1.3 million people would have run out of unemployment compensation by the end of the year, including 90,000 people in the state of New York.
"I am pleased that the President is signing this bill so quickly," said Serrano. "During these turbulent economic times it is clear that many people are losing their jobs through no fault of their own and it is imperative that we provide the assistance they need to get back on their feet. Finding a job today is challenging and many people will need longer than six months to find employment, so it is important that we have taken this step to give people more time."
This bill will also extend the Home Buyer Tax Credit which was set to expire at the end of this month until April 30, 2010. This $8,000 tax credit is for first time home buyers. To expand the tax credit to more families, income limits for single taxpayers would be $125,000 and $225,000 for married taxpayers. Homebuyers living in their residence for five or more consecutive years out of the last eight years will qualify for a $6,500 tax credit. Military service men and women will be allowed to apply for this credit until April 30, 2011.
On Wednesday, the House of Representatives passed H.R. 3639, the Expedited Credit Card Accountability, Responsibility, and Disclosure Reform for Consumers Act. The legislation moves up the date of implementation of the previously passed Credit Cardholders Bill of Rights (H.R. 627).
The original legislation contained several provisions to protect credit cardholders from arbitrary interest rate increases by credit card companies, misleading credit card terms, and other credit card company practices that harm consumers through fees, penalties, billing practices and interest rate increases. While the date of implementation was originally February 2010, credit card companies were taking advantage of the transition period to engage in further abusive practices, including large interest rate increases imposed on consumers. Because of this, H.R. 3639 makes the new consumer protection law effective immediately.
“Credit card companies knew that changes were coming that would end their abusive practices,” said Serrano. “They’ve tried to take advantage of the transition period in ways that hurt consumers. This change in the effective date is the best way to prevent these practices from continuing, and to ensure that consumers have the tools to take control of their credit.”
The bill now moves on to the Senate for their consideration.
Serrano Lauds Yankees
On Friday, Congressman Serrano introduced a resolution honoring the Yankees for their recent World Series Championship. To see Serrano speaking on the floor of the House in support of the resolution, please see the video here on YouTube.
In the Bronx
On Friday, Congressman Serrano introduced into the Congressional Record a statement celebrating the 110th Anniversary of the Bronx Zoo, which originally opened its gates on November 8, 1899. The Zoo is the largest metropolitan zoo in the country, bringing in four million visitors a year to see 600 different species of animals. In his statement Serrano noted the importance of the Zoo to the Bronx, saying, "In addition to being a cultural staple and headquarters for an international conservation organization, it is an economic cornerstone in the Bronx."
The Bronx Zoo not only provides opportunity for Bronx residences, New Yorkers and other visitors the opportunity to see hundreds of species, but plays an important role in preserving species in danger of extinction, a tradition that began at the beginning of the 20th century with efforts by the Zoo to save the American bison. The effort to save the bison, was a collaborative effort of the first director of the Bronx Zoo, William Hornaday, and the President of the United States at the time, Teddy Roosevelt.
"Madam Speaker," Serrano concluded, "it is my honor to recognize the Bronx Zoo on its 110th Anniversary and to applaud the institution for its efforts in leading the world in wildlife conservation as well as bringing joy to the millions of visitors who have walked through its gates."
Grant Opportunities
Long Term Care for LGBT Elders
Application Deadline: January 6, 2010
The Administration on Aging recently announced the availability of funding to provide technical assistance and information on the unique needs related to gay, lesbian, bisexual and transgender (LGBT) aging issues. The Technical Assistance Resource Program will focus on educating mainstream aging services organizations about the special needs of LGBT seniors, sensitizing LGBT organizations about the special needs of older adults, and educating LGBT individuals about the importance of planning ahead for long-term care. State and local governments, institutions of higher education and 501(c)(3) not-for-profit organizations are encouraged to apply.
For more information about this opportunity, please visit the Administration on Aging's website here.
For information on other government grants, please go to: www.grants.gov.