Preserving Financial Reform, Obama Meets with the CBC, Health Care Forum and Big Oil -- May 13, 2011
Dear Friend,
Thank you for reading another edition of my e-newsletter, the Carson Courier. For additional information on these and other topics, please visit my website at https://www.carson.house.gov.
In this week's Carson Courier:
- Preventing Republicans from Dismantling Wall Street Reform
- President Obama Meets with the CBC
- Health Care Forum
- Eliminating Unnecessary Subsidies for Big Oil
Preventing Republicans from Dismantling Wall Street Reform
This week, Republicans on the House Financial Services Committee turned their back on consumers and instead chose to side with Wall Street institutions, whose recklessness caused the worst economic crisis since the Great Depression.
Several pieces of legislation currently under consideration seek to undercut the landmark Dodd-Frank Wall Street Reform and Consumer Protection Act, the most sweeping overhaul of financial regulations in decades. Enacted last year, this law addresses the countless causes – from predatory lending to unregulated derivatives trading to irresponsible risk taking – that led to the financial meltdown.
A key component of Dodd-Frank is the creation of the Consumer Financial Protection Bureau (CFPB), a new independent bureau that will provide clear and accurate information to families and small businesses to ensure that bank loans, mortgages and credit cards are fair and affordable. Disappointingly, Republicans are now attempting to gut the CFPB before it has even gotten off the ground. The actions taken by Republicans to delay the establishment of the CFPB and weaken its authority demonstrate that they are far more concerned about the short-term profitability of financial institutions and less about the stability of the banking system and protecting consumers. Too many American families have paid the price for past mistakes, and they deserve the protection that the CFPB provides.
To read my full statement click here.
President Obama Meets with the CBC
On Thursday, I along with other Members of the Congressional Black Caucus met with President Barack Obama to discuss job creation. Although the economy continues to add jobs, high unemployment persists in many urban areas throughout the United States. The recession has been particularly hard on African Americans, whose unemployment rate is nearly twice that of the general population. This is why the CBC remains focused on improving the economic conditions of our communities, as well as lowering the high unemployment rates. I believe the President understands the urgency of targeting job creation programs toward hard-hit minority communities.
Health Care Forum
Republicans in the House have recently offered a budget proposal that ends Medicare as we know it. In order to inform constituents of the 7th district about the implications the Republican budget would have on our seniors citizens and their families, I am hosting a health care forum at 10 a.m. on Wednesday, May 18 at Southeast Community Services. This forum will have experts on hand to help answer questions about Medicare, the Affordable Care Act and the 2012 budget proposal. I hope you can join us there.
WHAT: Health Care Forum
WHEN: Wednesday, May 18
10-11 am
WHERE: Southeast Community Services,
901 S. Shelby St.
Indianapolis, IN
Eliminating Unnecessary Subsidies for Big Oil
Despite having earned $36 billion in profits in the first quarter of 2011 alone, Congressional Republicans refuse to eliminate billions of taxpayer subsidies for oil companies. Consumers are paying over $4 a gallon to fill up at the pump and important programs are being defunded. It is time for oil companies to pay their share.
Many Republicans have argued that ending these subsidies would reduce oil production and raise the price of gasoline, hurting consumers further. But according to the Joint Economic Committee report released Friday morning, ending unnecessary taxpayer subsidies for oil companies would have "no effect" on gas prices in the short term and could in fact help us end our dependence on foreign oil in the long term.
To read the full report, please click here.
Thank you for reading the Carson Courier. Please do not hesitate to contact me with your thoughts and concerns. For more information, please visit my website at https://www.carson.house.gov, my Congressional Facebook page at https://www.facebook.com/CongressmanAndreCarson and follow me on Twitter@RepAndreCarson. I value your views and your input which help me to better represent the people of Indiana's 7th District in Congress.