Stabenow Statement on Current Financial Crisis
Hard-working families in Michigan are in crisis every single day and the bill passed by the Senate tonight does little to help them. There’s no question that our financial markets are in distress – but the solution is to make sure people have jobs and families can afford to stay in their homes.
What I find deeply concerning is that we are not here by accident. We are in this credit crisis because of a failed philosophy and a failed set of priorities that have rewarded greed. While it’s true that today’s economic crisis must be addressed, we can and must do more to ensure that Michigan families receive the help they need to stay in their homes and keep their jobs.
I opposed the Emergency Economic Stabilization Act of 2008 because it is fundamentally the wrong approach to fixing our economy. We need to start from the root of the problem - helping families stay in their homes and keep their jobs. While I’m glad it included alternative energy provisions that I championed as a member of the Senate Finance Committee, it did not do enough for the people of Michigan, and so I could not, in good conscience, support this bill. I will continue my work in the Senate to ensure that we remain focused on legislation that creates jobs and puts American families first. |
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Auto Retooling Program will Help Keep Jobs in Michigan
The final continuing resolution on the budget included $25 billion in low-interest loans to automobile manufacturers for retooling older factories. The Advanced Technology Vehicle Incentives program, authored by Senator Stabenow, will allow automakers to produce the next generation of vehicles here at home. This provision is designed to revitalize the economy and comes at a time when Michigan’s unemployment rate leads the nation at 8.9%. Read More...
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Senator
Stabenow, joined by other members of the Michigan delegation to Congress, announces $25 billion in loans to help automakers build the next generation of advanced vehicles right here in America. |
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Senate Passes Housing Bill
U.S. Senator Debbie Stabenow announced that the House and Senate passed the Housing and Economic Recovery Act of 2008. The act offers urgent assistance to families and communities devastated by the housing crisis throughout Michigan, which currently ranks 5th nationally in the number of foreclosures. The bill also includes a provision encouraging American manufacturers to invest in the economy, thereby creating jobs here at home. Read more...
21st Century GI Bill Signed into Law
The 21st Century GI Bill, which Senator Stabenow cosponsored in the Senate, passed and was signed into law on June 30. This bill will help our new veterans from the wars in Iraq and Afghanistan to transition back to civilian life, just as veterans of past wars were able to. To find out more about the specifics, visit http://www.gibill.va.gov/.
Senate Budget Includes Stabenow Green Collar Jobs Initiative
The Senate Budget Committee passed the Fiscal Year 2009 federal budget, which emphasises job creation and protecting the middle class. A major highlight of this budget is Senator Stabenow's $3.5 billion Green Jobs Initiative, which includes:
- Energy efficiency and conservation
- Advanced batteries
- Retooling for old manufacturing plants
- Biofuel production and access
- Green Jobs training program
America Needs Fair Trade
We live in a global economy that continues to grow and expand. And over the last century, we have consistently proven that Michigan businesses and workers can successfully compete with anyone in the world when the playing field is level. Unfortunately, persistent unfair trade practices by other countries are costing us jobs every day.
Read more...
Farm Bill Resource Center
The U.S. Senate passed
the 2008 Food, Conservation, and Energy Act (H.R. 2419) by a veto-proof
majority of 81-15, which includes funding for nutrition and food
stamp programs, makes critical investments in alternative energy,
protects Michigan lakes and waterways, and supports growers of
specialty crops.
Helping Families Facing Foreclosure
The President signed into law U.S. Senator Debbie Stabenow's mortgage tax bill. Senator Stabenow’s legislation changes current law that forces individuals to pay an income tax when they have had a part of their mortgage loan forgiven or have been forced to foreclose because of their inability to pay their mortgage.
You can help support our Michigan men and women who are currently serving oversees in the Armed Forces:
- Michigan National Guard Family Page
- USO Cares
- Defend America: Support our Troops
- Send your Thanks
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