News

Progressive Caucus on Leaked ISDS Provisions in the Trans-Pacific Partnership

March 27, 2015

WASHINGTON – Congressional Progressive Caucus (CPC) Co-Chairs Reps. Raúl M. Grijalva (D-AZ) and Keith Ellison (D-MN) released the following statement after the NY Times reported on the Investment Chapter of the Trans-Pacific Partnership (TPP) that was leaked earlier this week. The chapter includes a highly controversial Investor-State Dispute Settlement (ISDS) provision, which would allow companies to sue foreign nations whose new policies hurt those companies’ interests.

“The text of the Investment Chapter of the Trans-Pacific Partnership validates concerns repeatedly raised by the Progressive Caucus about one of the biggest trade deals in history. Expanding ISDS increases foreign corporations’ ability to challenge U.S. policies outside of the U.S. court system, and demand monetary compensation for the loss of their ‘expected future profits.’ This erodes the power of Congress to establish vital health and environmental protections that protect consumers.

“The United States is leading a global race to the bottom that isn’t good for families anywhere. Good trade deals should not expose our consumer protections to legal attacks by foreign corporations.”

# # #

Progressive Caucus Statement on the Consumer Financial Protection Bureau's Payday Loan Proposal

March 26, 2015

WASHINGTON— Congressional Progressive Caucus (CPC) Co-Chairs Reps. Raúl M. Grijalva (D-AZ) and Keith Ellison (D-MN) released the following statement today after the Consumer Financial Protection Bureau (CFPB) announced that it would move forward with a rule to protect Americans from predatory ‘payday’ lending practices.

“We are pleased the CFPB is acting swiftly on a rule to protect working Americans from unfair payday lending practices. Fraudulent payday loans threaten the economic well-being of many Americans, especially those from low-income communities of color, by trapping them in a cycle of debt. The Congressional Progressive Caucus led a letter along with the Congressional Black Caucus, Congressional Hispanic Caucus, and Congressional Asian Pacific American Caucus to the CFPB recommending it take bold action to improve the small dollar loan market.

“We applaud the CFPB and President Obama for acting on our concerns and moving forward to protect Americans. We urge them to issue a rule that leaves no room for unscrupulous lenders to continue their harmful conduct.”

# # #

Congressional Progressive Caucus Urges President Obama to Bring U.S. Troops in Afghanistan Home

March 25, 2015

WASHINGTON, D.C.— Congressional Progressive Caucus (CPC) Co-Chairs Reps. Raúl M. Grijalva (D-AZ) and Keith Ellison (D-MN), along with CPC Peace and Security Task Force Chair Rep. Barbara Lee (D-CA), issued the following statement after Afghan President Ashraf Ghani addressed a joint session of Congress. 

“Afghanistan needs the strong leadership of President Ghani and Chief Executive Abdullah Abdullah—not a prolonged U.S. military presence. A political solution is the only way forward in Afghanistan. We fully support U.S. efforts to facilitate inclusive and democratic institutions in Afghanistan that are free from corruption and meet the needs and goals of its people. But after nearly fourteen years, the deaths of 2,201 service members, and a total price tag of five trillion dollars in Iraq and Afghanistan, we do not support extending the U.S. military presence in Afghanistan.

“President Obama should reconsider his commitment to allow U.S. troops to stay in Afghanistan through 2016. Before an agreement keeping 9,800 Americans away from their families goes into effect, the Progressive Caucus believes the American people, through their representatives in Congress, should have a say in a continued troop presence in Afghanistan.

“Lasting troop presence in Afghanistan causes resentment of the United States in the region and drains resources that could be better spent meeting critical needs at home. It is time to bring our troops home and forge the political solutions needed for lasting peace in Afghanistan.”

# # #

Congressional Progressive Caucus Unveils The People's Budget: A Raise for America

March 18, 2015

WASHINGTON – Congressional Progressive Caucus (CPC) Co-Chairs Reps. Raúl M. Grijalva (D-AZ) and Keith Ellison (D-MN), along with CPC Members Reps. Mark Pocan (D-WI), Judy Chu (D-CA), Sheila Jackson Lee (D-TX), Ruben Gallego (D-AZ), Grace Napolitano (D-CA), Janice Hahn (D-CA), and Barbara Lee (D-CA) unveiled the Progressive Caucus’ FY 2016 budget alternative called The People’s Budget: A Raise for America.  

The executive summary for The People’s Budget is below and the full budget can be found here.

The press conference to introduce The People’s Budget will be live streamed at noon and can be seen here.

“The most important thing Congress can do as we recover from the worst economic downturn since the Great Depression is pass a budget that invests in the American people,” Rep. Grijalva said. “The People’s Budget create good paying jobs by addressing our nation’s biggest challenges head-on, from rebuilding crumbling roads to updating antiquated energy infrastructure. It’s a down payment on the continual effort to improve the quality of life for all Americans by raising wages, restoring and enhancing vital programs like SNAP and emergency unemployment compensation, and making bold new investments like debt-free college for all, which will increase our global competitiveness and ensure every student has a fair shot at achieving their dreams.”

"Too many working Americans open their paychecks each week and ask themselves how they will make ends meet," Rep. Ellison said. "The People's Budget fully funds childhood health, education and affordable housing to help working families stretch their paychecks. The Progressive Caucus budget is a blueprint of proven investments to end grinding poverty, promote economic mobility and enable shared prosperity. It asks the wealthiest Americans and multi-national corporations to pay their fair share, so we can afford debt-free college, universal pre-kindergarten, paid sick leave and workforce training for all. The People's Budget makes smart cuts to the Pentagon budget and puts the money towards working families. The People's Budget invests in people, providing hard-working Americans with a raise they deserve."

“First and foremost The People’s Budget reflects our progressive priorities – leveling the economic playing field by increasing wages for middle- and low-income workers," Rep. Pocan said. "With families struggling to make ends meet, it is clear the American people want Congress to help create good-paying jobs and expand economic opportunity for all."

“Working a full time, 40 hour schedule is supposed to lift you out of poverty, not chain you to it,” Rep. Chu said. “It’s not just unfair, it’s wrong. It flies in the face of the promise of America. And it is why this budget – The People’s Budget – is so necessary. This budget promises to not only to grow our economy but to tackle inequality.”

“During our economy’s best decades, Congress invested in the American workforce and every family was better off for it. But recent years have been dominated by growing inequality and a Republican majority in Congress obsessed with slashing the budget, making it harder for working Americans to find decent jobs and save for the future,” Rep. Jackson Lee said. “The Congressional Progressive Caucus’ People’s Budget reverses the damage budget austerity has inflicted on hard-working families and restores our economy to its full potential by creating 8.4 million good paying jobs by 2018.”

“Today Americans are working more and earning less. Republicans, however, continue putting forth a budget that gives tax breaks to the wealthy instead of helping working American families,”  Rep. Gallego said. “While the GOP budget would end Medicare guarantees and make cuts to education that would make college even less affordable, the Congressional Progressive Caucus does the opposite ensuring that we make investments in the American people - creating good paying jobs, providing universal pre-K, and restoring funding for programs like SNAP that many American families rely on. It’s time for us to pass a budget that reflects the needs of the American people and focuses on giving American families the best opportunity to move ahead.”

“The Progressive Caucus works on everyday issues of the working family, and our budget reflects this commitment,” Rep. Napolitano said. “We will continue to fight to deliver that which we all feel is a necessity for our districts, for our working class.”

“The Congressional Progressive Caucus budget expands economic opportunity for middle class and lower income families and reflects priorities different from the House Republican proposal,” Rep. Hahn said. “Our budget creates jobs and invests in essential repairs and upgrades to America’s roads, highways and bridges to keep us globally competitive in the future.  The CPC budget also includes my recommendation to fully spend the Harbor Maintenance Trust Fund, returning money collected at our nation’s ports so they can make necessary improvements.”

“Despite a recovering economy, too many Americans are still struggling to make ends meet,” Rep. Lee said. “This budget supports American families and focuses on much needed investments here at home. This budget also reins in waste, fraud and abuse at the Pentagon and ends the OCO slush funds for defense contractors.”

The People’s Budget Executive Summary

The People's Budget fixes an economy that, for too long, has failed to provide the opportunities American families need to get ahead. Despite their skills and work ethic, most American workers and families are so financially strapped from increasing income inequality that their paychecks barely cover basic necessities. They earn less and less as corporations and the wealthy continue amassing record profits. It has become clear to American workers that the system is rigged.

The People’s Budget levels the playing field and creates economic opportunity by increasing the pay of middle- and low-income Americans. More customers and higher consumer spending advance American businesses, not tax cuts and relaxed regulations. The People’s Budget drives a full economic recovery by creating high-quality jobs and reducing family expenses, restoring the buying power of working Americans.

The People’s Budget closes tax loopholes that companies use to ship jobs overseas. It creates fair tax rates for millionaires and provides needed relief to low- and middle-income families. It invests in debt-free college, workforce training and small businesses within our communities, helping return our economy to full employment and giving a raise to Americans who need it most. Investments in The People’s Budget boost employment and wages by addressing some of the biggest challenges of our time: repairing America’s rapidly aging roads and bridges, upgrading our energy systems to address climate change, keeping our communities safe, and preparing our young people to thrive as citizens and workers.

A fair wage is more than the size of a paycheck. It’s having enough hours, paid overtime, sick and parental leave, and affordable health and childcare. It’s being able to afford a good education for your kids and never living in fear that your job will be sent overseas. It’s knowing you can make ends meet at the end of the month. The People’s Budget helps achieve that with a raise for American workers, a raise for struggling families and a boost to America’s long-term global competitiveness.

 

# # #

Progressive Caucus Holds Forum on ISIL and the President's AUMF Proposal

March 17, 2015

WASHINGTON – Congressional Progressive Caucus (CPC) Co-Chairs Reps. Raúl M. Grijalva (D-AZ) and Keith Ellison (D-MN), along with CPC Peace and Security Taskforce Chair Rep. Barbara Lee (D-CA) held a forum today on ISIL and President Obama’s proposed Authorization for the Use of Military Force (AUMF). The Congressional Progressive Caucus heard from policy experts who discussed the need for a comprehensive solution to the conflict in Syria and Iraq. The hearing can be seen here.

“Congress has the responsibility to hold this president – and every president – accountable when sending troops into harm’s way. President Obama’s proposal to fight ISIL fails to meet minimal expectations for political, economic and diplomatic solutions that will be vital to ending hostilities," Rep. Grijalva said. “The fact that an outdated and overreaching AUMF from 2001 has been relied on more than 30 times since it went into effect only emphasizes the need for specificity to prevent ongoing conflicts and mission creep in United States' military engagements. Congress must demand real answers from this administration before committing to any military action going forward.

"Before the United States enters a conflict, the elected representatives of the American people must debate and vote on a specific and narrow AUMF,” Rep. Ellison said. “We have to make it clear that the 2001 and 20002 AUMFs do not authorize the executive to wage perpetual war. We have learned the painful lesson that prolonged American military engagement in Iraq will not stop terrorism. Defeating the so-called Islamic State requires a comprehensive solution led by Middle East regional powers; open-ended AUMFs do not solve the problem.” 

“Our nation has been involved in a half year war that has no end in sight. Despite calls from Members of Congress and the American people, there has been no debate on this vital national security issue,” Rep. Barbara Lee said. “As we advance strategies to ultimately degrade and dismantle ISIL, we must ensure that these strategies are effective, comprehensive and do not continue our policy of blank checks for endless war. It’s past time for Congress to re-establish its vital role in matters of war and peace.”

# # # 

CAPAC, CBC, CHC, and CPC Urge DOJ to Close Profiling Loopholes

March 11, 2015

WASHINGTON, D.C. - Today, the Congressional Asian Pacific American Caucus (CAPAC), Congressional Black Caucus (CBC), Congressional Hispanic Caucus (CHC), and Congressional Progressive Caucus (CPC) sent a letter to Attorney General Eric Holder urging the Department of Justice (DOJ) to close loopholes in the revised DOJ profiling guidance released in December of 2014. While the revised guidance prohibits profiling based on ethnicity, gender, national origin, religion, sexual orientation, and gender identity, the guidance provides exceptions for activities within the Federal Bureau of Investigations, Transportation Security Administration, and Customs and Border Patrol. The Chairs of the caucuses released the following statements:

Congresswoman Judy Chu (CA-27), CAPAC Chair:

“The updated guidance is an important step toward ending profiling that has come after a decade’s work on this issue.  But, more work must be done to close the loopholes that still allow certain law enforcement agencies to continue biased-based profiling. Approximately half of the House Democrats, representing thousands of minority communities, have sent a strong message to the Department of Justice (DOJ) that bias-based profiling is unacceptable, without exception. We also urge the DOJ to hold law enforcement accountable to the guidance through data driven tracking of profiling complaints and a thorough complaint process. In the end, these steps will help to bridge the divide between communities of color and law enforcement, and make us more secure.”

Congressman G. K. Butterfield (NC-01), CBC Chair:

“The Congressional Black Caucus has asserted for years that Black Americans are treated unfairly and disproportionally in the criminal justice system, and we know that police bias and excessive use of force are real in the African American community.  This is a critical time in our country and an opportunity to restore the trust of the American public in our criminal justice system. We must ensure that all Americans are treated equally before the law, and it starts with efforts to reform the guidelines used by federal law enforcement.  The CBC joins with our colleagues from the Congressional Asian Pacific American Caucus (CAPAC), the Congressional Hispanic Caucus (CHC), and the Congressional Progressive Caucus (CPC) to urge the DOJ to take stronger action and reform the 2014 federal law enforcement profiling guidance to end racial and discriminatory profiling.”

Congresswoman Linda Sánchez, CHC Chair:

“The Department of Justice’s updated guidance on racial profiling was a necessary first step. There are still a number of loopholes affecting immigrants and Latinos that need to be addressed. Given current events, it is critically important that we prevent and eliminate discriminatory profiling once and for all. Our communities of color deserve equal justice under the law.”

Congressman Keith Ellison, CPC Co-Chair:

“The Department of Justice report on Ferguson made it clear: when we break from our values, our communities suffer. Equal protection under the law is a bedrock American principle and it cannot be compromised, especially by law enforcement. It's time to end discriminatory profiling once and for all.”

Congressman Raúl Grijalva, CPC Co-Chair:

“Discriminatory profiling by law enforcement will not end through half-measures and exceptions for our rules. I am heartened by the revised guidelines the Department of Justice released to address this continuing problem, but where loopholes remain, profiling will too. I am particularly concerned by the fact that the DOJ’s exemptions are for the exact same areas of law enforcement where profiling is relied upon the most. This practice is a complete departure from our values as a nation that values equality, and it must be stopped, once and for all.”

A link to the letter can be found here.

# # #

CPC, CBC, CHC, and CAPAC Call for Strong Standard on Payday Loans

March 9, 2015

WASHINGTON-Congressional Progressive Caucus (CPC) Co-Chairs Reps. Raúl M. Grijalva (D-AZ) and Keith Ellison (D-MN), Chair of the Congressional Black Caucus G. K. Butterfield (D-NC), Chair of the Congressional Hispanic Caucus (CHC) Linda Sánchez (D-CA), and Chair of the Congressional Asian Pacific American Caucus (CAPAC) Judy Chu (D-CA) sent a letter last week to Consumer Financial Protection Bureau Director Richard Cordray calling for a strong national standard for payday loans.

The text of the letter is below and a PDF copy can be found here.

 

The Honorable Richard Cordray

Director

Consumer Financial Protection Bureau

1700 G Street, NW

Washington, D.C.  20552

 

Dear Director Cordray:

We are writing in support of strong, effective rules governing payday loans. The Consumer Financial Protection Bureau (CFPB) has a responsibility to protect consumers from these predatory and exploitive financial products, and we urge you to implement rules that would prohibit fraudulent and abusive payday loans that threaten the economic well-being of so many Americans, especially those from low-income communities of color.

While several states have recently passed new laws and others have increased the enforcement on the abusive nature of these loans, the need for federal regulation is pressing. As of 2014, at least 36 states still permit these abusive loans, and many do so without restriction.[i]  Moreover, the prevalence of internet payday lending has grown tremendously in recent years. In fact, one in every three payday loans originates online, some with rates as high as 700% APR or more.[ii]    

What is particularly concerning is that payday lenders target low-income communities and communities of color. According to a four state study conducted by Howard University’s Center on Race and Wealth, 12 million people living in low-income communities use payday loans annually. Those individuals averaged eight payday loans each year with an average interest rate of 400 percent for each loan. Nearly 90 percent of payday lenders referenced in the study were located in low-income communities of color.

The prevalence of such predatory and abusive practices is unacceptable. The payday loan industry robs borrowers of the opportunity to secure a foothold in the mainstream financial services market by locking borrowers into a long-term debt trap and by increasing the likelihood that a borrower will suffer other harmful financial consequences, such as bankruptcy, excessive overdraft fees, and involuntary bank account closures. The resulting adverse impact on credit scores, which lenders use to determine a borrower’s eligibility, can make it even harder for individuals to avail themselves of mainstream financial services. This means that the millions of individuals from low-income communities and communities of color are further disadvantaged and further unable to break free of existing socio-economic barriers.

That is why we need a clear, consistent, national standard that ensures that no one in this country is subject to predatory lending practices. To that end, we urge the CFPB to implement rules to stem predatory practices that are based on exorbitant interest rates and fees that draw consumers into a harmful cycle of repeat lending. Specifically, we ask that the CFPB meaningfully reform the marketplace by implementing rules governing both storefront and online payday lending that would:

1.    Require the lender to determine the borrower’s ability to repay the loan, including consideration of both income and expenses;

2.   Not sanction any series of repeat loans or provide any safe harbor;

3.   Recognize that borrowers need small dollar loans with good terms, not short-term loans that are difficult for them to repay. The CFPB should establish an outer limit on length of indebtedness that is at least as short as the FDIC’s 2005 guidelines – 90 days in a twelve-month period; and

4.   Prohibit lenders from using post-dated checks of electronic access to a borrower’s checking account as evidence of ability to repay the loan.

We thank you for your leadership and consideration of our suggestions for strong protections for consumers in the financial market. We look forward to working with you and the Bureau to establish clear rules for the payday lending industry in order to protect consumers from products that have been shown to be financially damaging.

Very truly yours,

[i] The Pew Charitable Trusts, How State Rate Limits Affect Payday Loan Prices, April 10, 2014, available at http://www.pewtrusts.org/en/research-and-analysis/fact-sheets/2014/04/10/how-state-rate-limits-affect-payday-loan-prices.

[ii] The Pew Charitable Trusts, Key Findings About Internet Payday Lending: Harmful Practices, Fraud, and Abuse Abound in a Growing Industry, Oct. 02, 2014, available at http://www.pewtrusts.org/en/multimedia/data-visualizations/2014/key-findings-about-internet-payday-lending.

Progressive Caucus Releases Trade Principles that Put Workers First in Trade Agreements

March 4, 2015

WASHINGTON –The Congressional Progressive Caucus (CPC) released broad principles today to establish standards for U.S. trade policy that put workers first, balance trade deficits, and improve labor and environmental protections around the world. The Congressional Progressive Caucus believes it is possible to negotiate a trade agreement that doesn’t replicate the mistakes of the past, and instead creates a new model for trade, promoting balanced growth for the global economy.

The text of the executive summary is below and the full version can be viewed here. 

Principles for Trade: A Model for Global Progress

America’s current trade policy fails working families while increasing profits for the world’s largest corporations. Trade agreements should create a net increase of good American jobs, spur more balanced trade between partners, and improve governance, public health, and environmental protections around the world. The Congressional Progressive Caucus believes the following principles can ensure fairer trade agreements by prioritizing middle class families and removing special protections and privileges for corporations:

  • Protect Congress’ Authority to Set Trade Policy
  • Restore Balanced trade
  • Put Workers First
  • Stop Currency Manipulation
  • Expand Buy America Procurement Practices
  • Protect the Environment for Future Generations
  • Prioritize Consumers above Profits
  • Protect Nationhood Rights
  • Secure Affordable Access to Essential Medicines and Services
  • Respect Human Rights
  • Provide a Safety Net for Vulnerable Workers

Since implementation of the North American Free Trade Agreement (NAFTA) in 1994, the United States has lost millions of jobs in key sectors like manufacturing, wages have stagnated, and the standard of living for working families has dropped.

Outside of the United States, misguided trade policies are devastating both rural and urban communities in emerging nations, from the displacement of millions of small farmers in Mexico to low wages and terrible conditions for garment factory workers in Honduras.  Trade agreements that destroy local livelihoods and provide workers with little economic opportunity create strong incentives for immigration to the United States. U.S. trade policy must focus on creating economic opportunity for working people in the United States and abroad, not only on maximizing short-term profits for large corporations.

The United States negotiates some of the world’s largest trade agreements. These deals must put working families and our environment first. The United States must stop using trade agreements as investment deals for the world’s wealthiest corporations and instead prioritize higher wages, safer work and environmental standards, and a healthier world economy.

# # #

Progressive Caucus Applauds FCC on Net Neutrality Ruling

February 26, 2015

WASHINGTON – Congressional Progressive Caucus (CPC) Co-Chairs Reps. Raúl M. Grijalva (D-AZ) and Keith Ellison (D-MN) released the following statement after the Federal Communications Commission (FCC) voted today to approve Chairman Wheeler’s proposal protecting net neutrality through Title II reclassification of Internet access.

“We applaud the FCC for supporting an open and free Internet. After millions of comments from people all across the country, the FCC has validated their voices and ensured the Internet remains the democratic platform it is today.

“The Internet provides a space for free expression, and makes room for voices that are shut out of mainstream media.  Reclassifying the Internet as a common carrier prevents a handful of powerful companies from controlling how Americans access the Internet. Allowing Internet service providers to create fast lanes would give an unfair advantage to a lucky few and burden the rest of us with a slower Internet. It would also create barriers for the web entrepreneurs and innovators who have great ideas, but wouldn’t be able to compete on a pay-to-play Internet. Today's decision preserves the people's voice and allows the Internet to remain democratic and open.” 

The Congressional Progressive Caucus was an early proponent of net neutrality and led the fight in Congress by sending FCC Chairman Wheeler a letter in May of 2014 and later sending comments to the FCC in July 2014.

# # #

Progressive Caucus Applauds President Obama and DOL on Fiduciary Rule to Strengthen Retirement Security

February 23, 2015

WASHINGTON—Congressional Progressive Caucus (CPC) Co-Chairs Reps. Raúl Grijalva (D-AZ) and Keith Ellison (D-MN) released the following statement today after the White House announced that the Department of Labor is moving forward with a rule to expand the definition of retirement investor advisors who must put their clients’ interests first.

“We applaud President Obama and Secretary Perez's bold move to protect working Americans saving for retirement from financial advice that is not in their best interest. Every month the industry lobbyists who tried to stop this rule cost American savers as much as $1.4 billion dollars in overpaid fees and hidden commissions.  

“When workers leave a job, they can be encouraged to roll over their low-cost, quality employer-based retirement account into an IRA. Too frequently, working Americans do not realize the IRA they are being offered is actually a product that they are being sold. The product could have higher fees and worse investment options than the plan they had. Under current law, the person selling the plan to the worker does not have to put the client’s best interest first. That’s just wrong. The Department of Labor is siding with retirees to hold financial advisors to a higher standard.   

“Seniors are facing choices that will determine the security of their retirement. The rule proposed today improves the retirement investment marketplace and requires financial advisors and broker dealers to work in their client’s best interests.

“Expanding Social Security benefits, providing investor protections for consumers, and strengthening the private pension system are all important things government can do to create a system that ensures America’s seniors will be able to retire with security and dignity.  The CPC supports the President’s actions today and encourages him to propose the strongest possible rule.” 

By updating the definition to include advisors who encourage workers to roll their employer-sponsored retirement accounts, 401(k)s, 403(b)s, etc., into IRAs, the proposed rule will protect working families from high fees, hidden commissions and inferior product choices The Department of Labor will soon seek comments on a rule that promotes transparency, accountability and minimum conflict of interest. The proposed rule is expected to still allow advisors to give general advice and to give investors the option of choosing different types of fee-based advice plans. The proposed rule is not expected to prohibit commissions or revenue sharing.

# # #

« First < Prev Next > Last »