Welcome to the Menendez Message!
Volume 4, Issue 4 - November 18, 2008
In this issue:
- ADDRESSING THE ECONOMIC CRISIS
- AIRLINE FUEL SURCHARGES STILL NECESSARY?
- $64 MILLION FOR NJ COMMUNITIES AFFECTED BY FORECLOSURES
- FLIGHT AUCTIONS AT NJ/NY AIRPORTS HAVE POTENTIAL TO RAISE PRICES
- INCREASED FEDERAL SUPPORT FOR AMTRAK AND RAIL SAFETY
- LEGISLATION TO SPUR RENEWABLE ENERGY AND PROVIDE TAX RELIEF BECOMES LAW
- BOB'S BILLS
Dear Neighbors,
This is an exciting but also extremely challenging time for our nation. Having just witnessed such an historic election that united and uplifted so many Americans, we must now continue the hard work on the task at hand: finding solutions to the daunting economic challenges we face. So many families in New Jersey and across the country are struggling, dealing with job losses, falling home values, and a financial market that is erasing their retirement savings.
I would like to take this opportunity to update you on my recent work in Congress to address the economic crisis we face, to help New Jersey families hold on to their homes, and to change the direction of our economy over the long term, both at the national and local levels.
We all know that the economy will not be revived overnight, but we have been working to pave the way for a recovery. There is a lot of work still to do, and you can be assured that I will continue to push for additional action that can help prevent a further meltdown and spur our economy. This newsletter includes more detail on economic issues, as well as some of the other initiatives I've undertaken in recent months to strengthen our nation, and to stand up for all New Jerseyans.
My best regards,
Bob Menendez
ADDRESSING THE ECONOMIC CRISIS
Since the middle of September, we have experienced some of the tensest, most harrowing and most important times in the history of our economy. The collapse of Wall Street has the potential to devastate Main Street, and it was with this knowledge that Congress passed an economic rescue plan last month. I voted in favor of the final legislation because at the end of the day, this was not about Wall Street, it was about keeping small businesses running, keeping people in their jobs, and making sure loans for a car, an education or a home were available. Nobody in Congress is happy about the dismal condition our economy is in or the distasteful choices that we have been forced to make, but doing nothing was not an option.
We were able to turn the Bush administration's original unacceptable blank check for Wall Street into a plan intended to focus on middle class taxpayers and increased accountability. There are some concerns with how the Department of the Treasury is carrying out the plan, and I have been working to make sure it is implemented in an effective and forward-looking manner. It is important to pursue policies that will help more homeowners, protect taxpayers, spur job creation and spark an economic recovery. I anticipate that Congress will soon be taking additional action along these lines.
» Click here to read the press release
AIRLINE FUEL SURCHARGES STILL NECESSARY?
The price of jet fuel in the first week of July hit $4.34 per gallon, according to one of the major indicators. Following the same downward trend as the price of oil and gasoline, it is now below $2.25 per gallon. When fuel prices rose this summer, airlines added surcharges and new fees. It seems only logical that when those fuel prices drop, the airlines should follow suit and reduce their fees. Recently, I pressed airlines to roll back the surcharges and extra fees that they implemented over the spring and summer, and to make the base fares that consumers see online more reflective of the actual price they will pay to fly.
Senator Menendez calls on airlines to reduce added surcharges and make the cost of flying more transparent for customers -- Newark Liberty Airport
I was pleased to see that many airlines heeded my call for more transparency by doing away with the 'fuel surcharge' label and making their base airfares more reflective of what fliers will pay. However, the cost of flying still has not come down despite the sharp drop in jet fuel prices and there are too many surprise fees that fliers are expected to pay. Americans are having a hard enough time keeping up with their bills these days. To keep many of them priced out of flying is not only devastating to many who are hoping to spend the holidays with their families, it also slows the engine of commerce that helps propel our economy.
» Click here to read the press release
$64 MILLION FOR NJ COMMUNITIES AFFECTED BY FORECLOSURES
Foreclosure not only devastates the family that loses its home, it affects everything from neighborhood property values to town budgets to the global economy, as we've seen during this economic crisis. To address this issue, I worked with colleagues to help secure the funding for the Community Development Block Grant Program's Neighborhood Stabilization Program in the landmark housing bill passed in July. As a result, $64 million will be distributed to New Jersey communities to help them purchase foreclosed homes, land and property, demolish or rehabilitate abandoned property, assist low- and middle-income homebuyers with down payment or closing costs, and manage the use of vacant land.
» Click here to read the press release
FLIGHT AUCTIONS AT NJ/NY AIRPORTS HAVE POTENTIAL TO RAISE PRICES
Together with my colleagues, Senators Hillary Rodham Clinton, Charles Schumer, and Frank Lautenberg, I opposed the Bush administration's decision to proceed with its plan to auction off arrival and departure slots at the New York metropolitan region's airports and urged the administration to reverse course. This unlawful, untried and untested plan put forward by the Department of Transportation could have drastic consequences for the travelers and residents of New Jersey and New York. An auction system will lead to higher costs for the flying public, as airlines paying for takeoff and landing rights through this non-traditional process will likely pass along any additional costs to consumers in the form of increased fares.
» Click here to read the press release
INCREASED FEDERAL SUPPORT FOR AMTRAK AND RAIL SAFETY
Rail travel is, in many ways, the lifeblood of our state and its economy. It also provides a vital transportation outlet in times of emergency, as we can all remember when aviation was shut down following the September 11th attacks. That's why I voted in favor of legislation that will increase federal support for Amtrak and will help improve rail safety. With this long overdue investment in Amtrak and in the programs that will help protect those who commute and travel by rail, we can help keep transportation in New Jersey flowing and the economy running.
» Click here to read the press release
LEGISLATION TO SPUR RENEWABLE ENERGY AND PROVIDE TAX RELIEF BECOMES LAW
We recently passed legislation aimed at spurring low-cost, modern, renewable energy through a series of tax breaks and credits. It also provides a temporary fix to the Alternative Minimum Tax that unfairly forces middle class Americans to pay much higher taxes. I supported this legislation and helped make sure solar power was included as a priority. It will bring tax relief immediately and relief from high energy costs well into the future. It is the type of legislation that will allow us to free ourselves from the shackles of oil and to create jobs in a green economy.
» Click here to read the press release
BOB'S BILLS:
Taking aim at big oil's influence over the federal government:
I introduced legislation aimed at breaking the grip oil companies have on the federal government. The Integrity in Offshore Energy Resources Act would impose dramatically tougher ethics rules for the Minerals Management Service – the federal agency at the center of a major corruption scandal stemming from its employees' unethical relationships with oil company representatives.
» Click here to read the press release
Two pieces of legislation to improve public health:
When we talk about public health, we need to talk not only about potential injury and illness in our own families, but also about the collective health of our communities, environment and economy. To that end, I introduced two pieces of legislation to improve the relationship between the federal government and public health in the United States. The Health Impact Assessment Act and the Public Health Coordinating Council Act would study, reform and help improve the way in which the federal government understands the impact of its programs on public health and would help the government design programs that avoid negative impacts on public health.
» Click here to read the press release
