By John Furman
When Representative Claudia Tenney and members of the House of Representatives return to Washington from recess they will more than likely take up another piece of legislation that helps Wall Street and the 1%. Titled the “Financial Choice Act” this bill would empower Wall Street to take advantage of regular consumers, and once again sell out working people.
After voting in favor of Trumpcare, the $600 billion dollar tax cut for the rich, disguised as a Healthcare law. Rep. Tenney is planning to support a bill that would radically roll back the rules put in place after the 2008 financial crisis. Rules that were made to keep big banks from crashing the economy again. I don’t think you will find anyone that thought Wall Street was held accountable for the great recession. And now Rep. Tenney, wants to make it easier for them to take advantage of working people, and rig the system in their favor.
Most of us have strong and painful memories of the financial crisis, when roughly 9 million Americans lost their jobs, the average middle-class household saw half its wealth evaporate in the space of a few years, and almost 10 million families lost their homes. Let’s be honest. A lot of us still haven’t recovered.
Which is why most of us were glad when Washington finally did something to reel big banks in, and created the Consumer Financial Protection Bureau (CFPB), a watchdog agency whose mission it was to hold them accountable. The Choice Act would erase the progress we have made.
When Representative Tenney, and the House of Representatives takes up this bill — “Wall Representative Tenney is on. Will it be big banks and Wall Street, or their constituents?
TRUMP’S BUDGET CUTS DEVASTATING
FOR CENTRAL NEW YORK
President Trump’s FY18 budget request which was released today is the most draconian, cruel, and heartless budget in modern American history. It proposes to slash federal investments in essential programs that ensure basic living standards for working people and those on fixed incomes in Central New York.
Many people and communities in Central New York rely upon federal funding for services. Federal assistance is vital to the budgets of local nonprofit agencies and governments. The budget disinvests in Central New York rural and urban communities. It undermines basic living standards that everyone needs – enough food, health care, and housing. Through multi-trillions in tax cuts that average $50,000 each for millionaires, it transfers money that needs to be invested in our nation’s people into the hands of the few and powerful.
The budget calls for $3 trillion in cuts to programs that help low-income individuals, families, and communities while giving $6 trillion in tax cuts to millionaires and corporations. It makes draconian cuts to Medicaid, SNAP, SSI, and SSDI, all but eliminates the Social Services Block Grant, and ends funding for the home heating and cooling aid, and the Community Services Block (Community Action) Grant. It harshly cuts the Earned Income Tax Credit and Child Tax Credit as well as housing, job training, education, environmental protection, the CDC, substance abuse and mental health, and rural health programs.
The massive funding cuts for Medicaid would steal health care from about 10 million low-income Americans and would particularly hurt local nursing homes and hospitals. It would force many health providers to cut services and lay off staff.
Contrary to campaign promises to protect Social Security, Trump’s would even cut Social Security – making massive cuts to Social Security Disability Insurance that helps thousands of local disabled residents.
The budget will cut funding for the Corporation for Public Broadcasting, Violence Against Women grants, legal aid for poor Americans, energy efficiency, fossil fuel emissions reduction, civil rights enforcement, and community policing.
We are asking members of Congress to reject the proposed budget that hurts the middle class and the most vulnerable in society. Instead of a budget that favors the few over the many, we need a People’s budget that levels the playing field and creates economic opportunity for all.
In response to these proposed cuts, Central New York Citizens in Action, Inc. will be organizing a regional coalition to oppose these harmful cuts and advocate for a fair budget creates good paying jobs, invests in human capital, and rebuilds our local infrastructure.
For more information or to get involved, contact the Central New York Citizens in Action, Inc.
(Central New York Chapter of Citizen Action of New York), P.O. Box 411; Utica, NY 13503-0411, 315-725-0974, firstname.lastname@example.org, www.cnycia.org. Look for us on Facebook at Central New York Progessive and Central New York Citizens in Action.