As we celebrate this holiday, I am thankful for the honor of serving in Congress.  We all share the hardship and uncertainty of an economy that has taken the worst turn since the Great Depression and the news is filled with the gloom of ‘recession’ and ‘bailout’. 

Even though this is a difficult time, I am optimistic and have hope that the new leadership of President-Elect Obama and a Democratic Majority in both the House and Senate will stop digging and begin to climb out of this hole.   As we speak, The Obama Economic Team is working diligently to embark on a path to economic recovery that fosters both growth and stability.

I know that with your continued help and support we will successfully face the challenges ahead.  The leaders of the Nation are determined and I am excited and honored to be a part.

0 Comments


]]> Wed, 26 Nov 2008 13:42:00 CST Wed, 26 Nov 2008 06:00:36 CST Wed, 26 Nov 2008 01:00:00 CST

]]> Fri, 21 Nov 2008 12:00:36 CST Fri, 21 Nov 2008 11:53:16 CST Mike discusses the post-election session week and the auto-bailout.

Speaker of the House: Nancy Pelosi of California
Majority Leader: Steny Hoyer of Maryland
Majority Whip: James E. Clyburn of South Carolina
Democratic Caucus Chairman: John B. Larson of Connecticut
Democratic Caucus Vice Chairman: Xavier Becerra of California
Assistant to the Speaker and Chair of the Democratic Congressional Campaign Committee: Chris Van Hollen of Maryland

Last week, I authored a letter to Speaker Pelosi and Majority Leader Hoyer expressing the urgency to help American automakers. We need to ensure stability and stimulate growth in our domestic auto industry. With 5 million American jobs at stake, we can’t afford to look the other way. In my district, the local GM plant in Lordstown is looking at laying off 1,060 employees.  Government intervention will provide an opportunity for these automakers to develop advanced fuel efficient cars and renew American interest in buying domestic.

I will keep you posted as this session continues…

4 Comments ]]> Wed, 19 Nov 2008 10:53:51 CST Wed, 19 Nov 2008 02:53:36 CST

]]> Wed, 19 Nov 2008 01:29:08 CST Tue, 18 Nov 2008 03:26:29 CST Tue, 18 Nov 2008 02:00:50 CST

]]> Tue, 18 Nov 2008 01:15:55 CST Mon, 17 Nov 2008 19:23:00 CST AUSTIN, Texas – Texans who became unemployed because of Hurricane Ike have more time to apply for Disaster Unemployment Assistance (DUA), now that the deadline has been extended to Dec. 12, according to the Federal Emergency Management Agency (FEMA) and the Texas Governor’s Division of Emergency Management (GDEM).

This is the second time the DUA deadline has been extended. State and federal disaster recovery officials say another 30 days should give Texans in need of unemployment assistance enough time to apply.

The DUA program is funded by FEMA through the U.S. Department of Labor and administered by the Texas Workforce Commission. To date, more than 7,000 eligible Texans have been approved for assistance totaling more than $2.1 million.

To apply before the mid-December deadline, workers can go online to www.texasworkforce.org or call a Texas Workforce Unemployment Insurance Tele-Center at:

0 Comments ]]> Mon, 17 Nov 2008 15:48:00 CST The American Red Cross and Pitney Bowes Inc. have announced that they will work together to touch the lives of thousands of men and women in uniform this holiday season. Their program, ‘Holiday Mail for Heroes’ is a coordinated effort to show appreciation for our troops by sending a personal greeting during this special time of year.

From Tuesday, November 11 until Wednesday, December 10, the public is invited to send holiday cards with their message of thanks and cheer to a special post office box. The Red Cross and Pitney Bowes will then screen cards for hazardous materials, sort and package the cards, and deliver them to military bases and hospitals, veteran’s hospitals, and other locations during the holidays.

For more information, please click here.

0 Comments


]]> Mon, 17 Nov 2008 02:18:07 CST Mon, 17 Nov 2008 02:01:06 CST Mon, 17 Nov 2008 01:15:30 CST

]]> Fri, 14 Nov 2008 15:34:00 CST On Saturday, November 15, HOPE NOW is hosting an event at Lakewood Church for homeowners facing foreclosure. The event will be open to the public from 8 a.m. until 2 p.m. and will give you an opportunity to meet one-on-one with your lender or a housing counselor to discuss workout options to avoid foreclosure. You may also call the HOPE Hotline at (888) 995-HOPE for more information.

Saturday, November 15, 2008
Lakewood Church
3700 Southwest Freeway
Houston, TX 77027

Parking is free.

0 Comments ]]> Fri, 14 Nov 2008 11:06:13 CST Fri, 14 Nov 2008 11:02:17 CST

]]> Thu, 13 Nov 2008 11:31:00 CST In 2006, Congressman Culberson supported the Secure Fence Act that authorized construction of 700 miles of double-layer reinforced fencing along the southwest border as well as unmanned aerial vehicles, ground sensors, satellites, radar, and cameras for border surveillance. Here is an update on the construction of the fence as of October 31, 2008:

Miles completed:

0 Comments ]]> Wed, 12 Nov 2008 14:16:45 CST We regret that we are no longer accepting requests for inauguration tickets due to the unusually high volume of requests we have already received.

We anticipate that the number of tickets we receive will not be enough for the requests we already have.

If you contacted our office prior to 11/12/08, you have been added to our list for tickets. This does not guarantee you a ticket. Our office will send email updates as we get closer to the inauguration to keep you apprised of the situation regarding tickets.

Please visit inaugural.senate.gov for more information.

We regret that we are no longer accepting requests for inauguration tickets due to the unusually high volume of requests we have already received.

We anticipate that the number of tickets we receive will not be enough for the requests we already have.

If you contacted our office prior to 11/12/08, you have been added to our list for tickets. This does not guarantee you a ticket. Our office will send email updates as we get closer to the inauguration to keep you apprised of the situation regarding tickets.

Please visit inaugural.senate.gov for more information.

Throughout our nation’s history, we have been blessed to have soldiers, sailors, marines and airmen willing and ready to answer the call of duty. Regardless of the hardships they endured or the personal sacrifices they had to make, these men and women selflessly answered the call to arms. Whether they served during war or peacetime, on active duty or in the Reserves, on the home front or abroad, these patriots all deserve our respect and gratitude. The pride and perseverance of our men and women in uniform is reflected in every generation of veterans, from the Revolutionary War to the current service members engaged in fighting in the Global War against Islamic Jihadists.

So today, in addition to thanking our veterans for their service, I call upon every American to express their respect and gratitude to our veterans and current members of the armed forces. Please give thanks for their commitment and their sacrifices, and for the protection of freedom that we all enjoy. Above all, we must give thanks that our nation has brave patriots that are willing to answer the call to duty. (more…)

Throughout our nation’s history, we have been blessed to have soldiers, sailors, marines and airmen willing and ready to answer the call of duty. Regardless of the hardships they endured or the personal sacrifices they had to make, these men and women selflessly answered the call to arms. Whether they served during war or peacetime, on active duty or in the Reserves, on the home front or abroad, these patriots all deserve our respect and gratitude. The pride and perseverance of our men and women in uniform is reflected in every generation of veterans, from the Revolutionary War to the current service members engaged in fighting in the Global War against Islamic Jihadists.

So today, in addition to thanking our veterans for their service, I call upon every American to express their respect and gratitude to our veterans and current members of the armed forces. Please give thanks for their commitment and their sacrifices, and for the protection of freedom that we all enjoy. Above all, we must give thanks that our nation has brave patriots that are willing to answer the call to duty. (more…)

U.S. Rep. Mike Conaway has announced that Midland Independent School District has received a $1.29 million federal grant for its Head Start program. This is the program’s yearly funding.

“As a former member of the Midland Independent School District Board of Trustees, I understand the difficulties our educators face in providing the best quality education to our children,” Conaway said in a news release. “I am a strong supporter of grant programs like the Head Start program. They have a proven track record in District 11, and I will continue to work to see that they remain intact.

“The health and happiness of our children is essential to the future of our nation. Head Start programs provide invaluable developmental and educational services to disadvantaged children and families and help promote school readiness and future academic success. The funding for these programs benefits the families involved and the community as a whole and contributes to a brighter future for our nation’s children,” the release said. (more…)

State and federal officials are urging anyone who still needs to register to do so before the registration deadline of Nov. 12.

"The deadline is only two weeks away and we don't want anyone with disaster damages to miss this opportunity for assistance," said State Coordinating Officer Joan Haun. "Register, get into the FEMA system and let’s find out what you are eligible for."

There are two ways to register: log on to www.fema.gov or call FEMA’s toll free number, 1-800-621-3362, or TTY 1-800-462-7585 for the hearing impaired. Both numbers are available 24 hours a day, seven days a week, until further notice. Residents should register only once; duplicate registrations may cause delays in the delivery of assistance.

Before calling or registering online, residents should have in hand:

0 Comments ]]> Thu, 30 Oct 2008 15:06:00 CDT

]]> Tue, 28 Oct 2008 10:52:44 CDT Tue, 28 Oct 2008 02:25:56 CDT Mon, 27 Oct 2008 10:42:27 CDT Congressman Tim Walberg participated in a ceremony to rename the Jackson High School football field after the Dungy family Friday night. From WILX.com:

Jackson High School’s football field has a new name…
Dungy Field
But make no mistake, Jackson Public Schools’ Board of Education dedicated the field the entire Dungy family, not just the Colts’ Superbowl winning coach.
“Your family has a made a difference and will continue to make a difference by the example that has been set,” Congressman Tim Walberg said at the dedication.
Dungy’s mother was a teacher at Jackson High School while his father taught at Jackson Community College.
“This is about being a complete person, about education as well as athletics,” Dungy’s brother, Linden Dungy, said.
Dungy’s siblings, who were present for the unveiling, still live in town and said they’re humbled by this gesture.
“To be able to look back and see how much your entire family has meant to the community and how much the community has meant to us, it makes it truly special,” Linden Dungy said.
The field might be renamed for the entire Dungy family, but some who play here say it doesn’t hurt to have a Superbowl winning name watching over every play.
“It means a lot,” Senior Jackson High School football player Chris Bronson said. “He’s a big inspiration to the community of Jackson and I’m honored for our field to be named after him.”
Whether if Dungy’s winning ways rub off in his hometown… is yet to be seen. 

More coverage is available here.

October 22, 2008

Secretary James B. Peake, M.D.
U.S. Department of Veterans Affairs
810 Vermont Avenue, NW
Washington, DC  20420

The Honorable James Peake:

There is a sacred trust between America’s veterans and the American people, and I write to you to address a violation of this trust with our nation’s veterans.  I am outraged to hear reports over the past week detailing active claims and unprocessed mail found in shredder bins at the Detroit Veterans Affairs office.

The Detroit News reported that “an official in the department’s Office of Inspector General confirmed Wednesday that the Detroit office and three other regional offices were visited recently as part of an audit of the department’s handling of veterans benefits claims.”  I am encouraged by your proactive response to this particular situation, but it is evident new safeguards and standards for processing veterans benefits claims are needed.

Veteran of Foreign War National Commander Glen Gardner recently stated the “the question that begs to be asked and answered is how many veterans had their disability and compensation claims disappear down a paper shredder?”  I would like an answer to this inquiry and would also like to know what process the Department of Veterans Affairs will immediately deploy to help those veterans who have been affected by the mishandling and destruction of applications and supporting documentation.

It has been reported that the Veterans Affairs Office in Detroit has the highest number of six month old claims of VA offices in the eastern area.  What new processes, training, and resources will you commit to the Detroit office to ensure that claims are efficiently processed in a timely manner?

I have pledged to work for our nation’s veterans and look forward to work with you to ensure our veterans receive the support and care they deserve.  I look forward to your response and swift action to address these issues so important to those who served our country.

Sincerely,

Tim Walberg
Member of Congress

UNION CITY — Dressed to the nines in a star-spangled tie and a flag pin, Keo Sok sheepishly walked onto the floor of the Union City Community Schools’ field house to perhaps the warmest applause ever to befall a middle school janitor.

With an assist from the office of U.S. Rep. Tim Walberg — who was on hand to congratulate the 48-year-old middle school custodian — and an OK from a federal judge, Sok was able to share his shining moment with the students and teachers that helped him pass his citizenship test. An estimated 400 students and community members attended Wednesday.

KFWB interview with Jan Stevens on likelihood of second stimulus package.

KPCC interview with Patt Morrison on possible contents of a second stimulus package.

0 Comments]]> Wed, 22 Oct 2008 10:46:49 CDT Congressman Tim Walberg recently received the 60 Plus Association’s Guardian of Seniors’ Rights award. The 60 Plus Association’s award is presented to Democrats and Republicans in Congress based on their “senior friendly” voting records.

Read more here.

AUSTIN – The Texas Workforce Commission (TWC) announced today that the Disaster Unemployment Assistance (DUA) deadline for individuals in the 34 counties named in the Presidential Disaster Declaration FEMA-1791-DR whose employment or self-employment was lost or interrupted due to Hurricane Ike between September 7, 2008, and Thursday, October 2, 2008, has been extended to Wednesday, November 12, 2008.

The 34 counties in the declaration include Angelina, Austin, Brazoria, Chambers, Cherokee, Fort Bend, Galveston, Gregg, Grimes, Hardin, Harris, Harrison, Houston, Jasper, Jefferson, Liberty, Madison, Matagorda, Montgomery, Nacogdoches, Newton, Orange, Polk, Rusk, Sabine, San Augustine, San Jacinto, Shelby, Smith, Trinity, Tyler, Walker, Waller and Washington.

DUA is available to individuals who:

0 Comments


]]> Mon, 20 Oct 2008 11:23:00 CDT Recent news reports have surfaced that executives from AIG recklessly spent money shortly after the federal government bailed the giant insurance company out, including “a $400,000 retreat at a posh California resort.”

Congressman Tim Walberg, who opposed taxpayer bailouts of the financial sector, joined a delegation of members concerned about AIG’s reckless spending and sent a letter to Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke asking the two leaders to ensure taxpayer dollars were not used by AIG on these spending sprees. Full text of the letter is below:

Dear Secretary Paulson and Chairman Bernanke:

We write to express strong concerns about AIG’s possible misuse of federal taxpayer funds.

It has come to our attention that, after the Federal Government provided a loan of $85 billion to AIG, the AIG executives hosted a lavish $440,000 retreat at the St. Regis Resort in Monarch Beach, California. Even more troubling, the day after this was revealed to the House Oversight and Government Reform Committee, the New York branch of the Federal Reserve announced it will borrow $37.8 billion in investment-grade securities from AIG in exchange for cash.

At a time when many of our constituents have serious concerns about their own financial security, we demand that you ensure that no taxpayer funds were used by AIG to host this retreat. If taxpayer funds were used, we demand that AIG repay the American people in full. It is crucial that the American people be able to trust the actions of the Federal Reserve and the Treasury.

On Tuesday, after meeting with Secretary Paulson, I indicated that I was supportive of the Administration’s plan to use the authority granted by the Emergency Economic Stabilization Act. In developing the financial rescue package, we in Congress recognized the need to attack this crisis on multiple fronts. I am encouraged that the Administration has chosen to do just that, and am hopeful that these efforts will help unfreeze our markets.

The USPS classifies mail as undeliverable or unclaimed if there is no mail box available for delivery, if the customer has not picked up mail from the Post Office in over 30 days, if mail has not been cleared from the mail box in 30 days, or if the customer’s P.O. Box rental agreement has expired.

For customers that have permanently relocated or will be at a temporary location for an extended time, the Postal Service recommends filing a Change of Address in order to forward mail to their new address. Customers who have already made these arrangements or who are picking up their mail on a regular basis are not impacted by these guidelines.

Customers may file a Change of Address or Hold Mail order online at usps.com, at the nearest Post Office or by calling 1-800-ASK-USPS (1-800-275-8777).

0 Comments ]]> Thu, 16 Oct 2008 11:20:59 CDT Download the podcast here:

Remarks as Prepared: The Committee will please come to order.  We gather here this morning to examine once again the condition of our nation’s infrastructure and proposals for needed improvements to it.

When the Committee last gathered to examine this critical issue, we considered the perspectives from individuals who held expertise in public and private financing, civil engineering, labor, and business.  They were unanimous in voicing compelling support for increased investment in our nation’s infrastructure and for the need to develop and implement alternative ways to finance this critically important investment in our nation’s future.

I started my internship in late August and have almost been here two months now. The staff was very warm and welcoming, and never hesitated to give me advice and pointers, or even just simple directions! A little over four weeks ago I was able to observe the onset of economic crisis in our country and the subsequent legislative action that took place. I have also had the privilege of attending briefings and hearings, being on the cusp of breaking news and legislation.

With the presidential elections coming up soon, this is a very exciting time to be in DC. I look forward to returning to Lubbock with this experience under my belt, and discovering what the future holds in store. Who knows, I may end up back on Capitol Hill someday!

I started my internship in late August and have almost been here two months now. The staff was very warm and welcoming, and never hesitated to give me advice and pointers, or even just simple directions! A little over four weeks ago I was able to observe the onset of economic crisis in our country and the subsequent legislative action that took place. I have also had the privilege of attending briefings and hearings, being on the cusp of breaking news and legislation.

With the presidential elections coming up soon, this is a very exciting time to be in DC. I look forward to returning to Lubbock with this experience under my belt, and discovering what the future holds in store. Who knows, I may end up back on Capitol Hill someday!

The article summarizes what illiquidity in credit markets mean to individuals by stating “…the rates on loans paid by many consumers (adjustable-rate mortgages, for example) and companies are set with reference to the money markets. Higher rates for banks mean higher rates for everyone. Second, if the markets are blocked for more than a week some companies may find it hard to get any finance at any price. That could mean more bankruptcies and job losses. Third, more banks could go bust if the blockage continues, making investors even more risk-averse. The downward spiral would take another turn. “

Our current economic situation is not desperate, but it is urgent, and it is most definitely not simply a Wall Street problem.- Mike

When: Saturday, October 18 at 11:00 A.M.
Where: Mt. Diablo Unitarian Universalist Church,
55 Eckley Lane, Walnut Creek 94596

Co-Sponsors: Northern California Peace Alliance,
Social Action Committee of Mt. Diablo Unitarian Universalist Church, Lamorinda Peace and Justice Group and Rossmoor Grandparents for Peace

Congressman Ellison will address the current situations of war and peace around the world and social and economic injustice in our country, including the economy, credit card interest rates and health care. Congressman Ellison, a co-sponsor of the Department of Peace Bill (HR 808), is a lively speaker who has visited the Peace Institute in Norway in his search to understand peace in our world. The Congressman will answer your questions as part of the program.

Congressman Keith Ellison represents the Fifth Congressional District of Minnesota in the United States House of Representatives since taking office on January 4, 2007. The Fifth Congressional District is the most vibrant and ethnically diverse Congressional district in Minnesota with over eighty languages spoken throughout the district that includes the City of Minneapolis and several surrounding suburbs.

Ellison's election to the Congress made both Minnesota and U.S. history. Keith is the first African American elected to the Congress from Minnesota, as well as the first Muslim American to be elected to the U.S. Congress.
Suggested donation: $10-$15 (no one turned away for lack of funds); wheelchair accessible.

For more information: Mt. Diablo Peace & Justice Center www.mtdpc.org

WOOD TV - Walberg comments on signing of bailout bill

WWMT - Michigan Representatives on the bailout

WILX - Rogers, Walberg Vote “No” on Bailout

Jackson Citizen Patriot - Area leaders doubt bailout plan

]]> Mon, 06 Oct 2008 09:16:00 CDT Sat, 04 Oct 2008 18:51:00 CDT

]]> Fri, 03 Oct 2008 18:25:40 CDT As I have discussed with many of you over the past week, my vote on Monday against the Emergency Economic Stabilization Act was a decision that I struggled with. Although I have cast many difficult votes during my time in Washington, this particular vote was different because of the extraordinary consequences and stark differences between my two options. A vote for the package would have empowered the federal government in ways that were unprecedented, but inaction in this crisis could have led to far reaching disruptions in our economy that put the livelihood and life savings of millions of people at risk. In the end, I chose to oppose it because I believed that we could craft a better bill rooted in a free market solution to a free market problem.

In the days leading up to Monday’s vote, I did all the usual fact gathering, listening to expert and constituent opinions, and bill reading that I normally do to decide my position, but found that I still did not have the answer. I appreciate the many letters, emails, and other communications from all of you expressing your opinions about the correct course of action. Most of you were against the rescue plan, and I weighed your thoughts as I tried to make my decision. Quite frankly, given your almost universal opposition to the plan, a no vote was the path of least resistance. And in fact, while I was home this week most of you continued to support my opposition to the rescue plan. However, I also spoke with a growing minority of constituents who were disappointed that I did not support the House bill and urged me to support the plan if it came back up for a vote in the House. (more…)

Earlier in the week I voted against the Emergency Economic Stabilization Act because it fell short of embodying the elements of an economic recovery package that we need for taxpayers, workers, small businesses, and homeowners. The changes made to the bill in the Senate do nothing to alter the fundamental problems I found in the original version.

I have the highest respect for the hard work that was put into this effort by Speaker Nancy Pelosi, Financial Services Committee Chairman Barney Frank, and others. They performed some heavy lifting to improve upon a $700 billion Bush/Paulson bailout proposal that was short on details and empty of protections for weary taxpayers and suffering homeowners.

History will document the unconscionable excesses of Wall Street which led us all down this path of crisis. But right now is not the time to look back at the mess or dwell on the vote. It’s time to roll up our sleeves, monitor the rescue plan’s implementation and move forward with initiatives to put America and its financial sector back to work.

I was pleased to hear so much impassioned and well considered input from my constituents over the past couple of weeks - from folks on both sides of the issue - and I hope you will continue to let me know what you think here in the comments section and at my upcoming Coffee With Your Congressman town hall meetings. Thank you.

28 Comments]]> Fri, 03 Oct 2008 14:39:04 CDT Today’s vote on the floor of the house is one that will undoubtedly be on the minds of Americans for years to come.  The bipartisan legislation that passed in the Senate and which was voted on today added significant new protections for taxpayers on Main Street, including increasing the amount of bank deposits insured by the government from $100,000 to $250,000 through 2009 and protecting 21 million middle-class families from getting hammered by the Alternative Minimum Tax (AMT) for tax year 2008. It also guarantees that irresponsible corporate and Wall Street executives will not be rewarded with golden parachutes or severance pay.

As a result of the drastic improvements made in the Senate legislation compared to the Bush Administration’s plan, which I voted against, I voted in favor of the newest plan because it protects New York taxpayers from higher income taxes under the AMT and will save jobs in Western New York.  From the beginning my colleagues and I knew that our current economic turmoil was not something we could wish away and if this legislation had failed to pass American jobs would be in jeopardy and small businesses would have faced problems growing financially and creating and retaining jobs.

On Monday, I voted against a bad bill, which did not provide protections for taxpayers and did not address the fundamental problem that caused our economic crisis.  Today’s legislation was a significant improvement, one which I hope will restore confidence in our financial markets and allow for small business in Western New York to continue to grow and flourish.  This has been a very difficult decision, one in which the input from you my constituents was a key component.  I want to thank everyone who has called and emailed my office over the last two weeks and encourage everyone to continue to do so.

If this bill were just about helping Wall Street, given its behavior, I wouldn’t walk across the street to save it. But this is about our country. It is about our communities, families and access to credit, creating jobs and economic growth. It will not solve our economic problems overnight, that is for sure. And I don’t know anyone who is glad that we even have to consider this plan. But we must approve it in order to move forward.

In the face of grave and growing instability in our credit and financial markets, the President made an urgent appeal to Congress. He presented a three-page plan to grant never-before-seen powers to the Treasury Secretary to spend a staggering $700 billion in taxpayer money to buy up the bad debt held by banks and investment firms – with no accountability and no protection for taxpayers.

Along with many lawmakers from both parties, I rejected the President’s request for a ‘blank check.’ But I did not dismiss the need to take action to help workers and families already hurt by long-standing economic problems who will suffer further if the financial crisis becomes the full scale economic meltdown so many experts predict.

Americans will not be able to borrow to make payroll at small businesses, invest in new equipment, take out college loans, find mortgages, start new businesses, or buy new cars.

Left unchecked, this crisis will further erode people’s retirement savings accounts, pension funds, and other savings, raise unemployment, and undermine our ability to create new jobs. As we are seeing in California, school districts, counties, and cities are losing millions of dollars because of the collapse of firms in which they held investments.

To protect the taxpayer and help the economy, I successfully fought to add several key provisions to the bill, making it now a far cry from the President’s original three-page plan. We added provisions to:

-- provide money in stages, not all at once, and with congressional approval, to buy up bad debt from financial firms;

-- limit the compensation of CEOs whose firms the government rescues. No more golden parachutes for Wall Street tycoons who get government assistance;

-- provide immediate, ongoing and tough oversight by independent boards, including the Inspector General and General Accounting Office;

-- give taxpayers stock equity of the companies that they rescue, giving them a share of the profits as those companies recover and reducing the overall cost of the plan;

-- help families in foreclosure;

-- provide a mechanism to require companies to pay for any losses the taxpayer might face from this plan, and;

-- increase federal bank deposit insurance from $100,000 to $250,000.

These are very important changes.

The American economy is in its weakest condition in years, with rising unemployment, stagnant and declining wages, record high energy costs, and soaring food prices. Mortgage foreclosures are rising while home values decline further. Fundamental investments in our economy remain unmet – for health care, infrastructure, new energy sources, and for education. Add to this now the very real credit and financial crisis.

While the housing crisis and collapse of the financial markets has its roots in the excesses of Wall Street and Republican anti-regulation policies in Washington, the impact of widespread bankruptcies and frozen credit will be felt by each of us.

Americans have every right to be furious with Wall Street CEOs and eight years of the Bush Administration and 12 years of the Republican-led Congress that did nothing but cut taxes for the rich, de-regulate the banks, and turn their backs on critical oversight.

Now, the party for Wall Street that has been a nightmare for Main Street is over.

I pushed for investments in the emergency plan that would have created good paying jobs in California and across America, infusing money for mass transit, highways, bridges, water recycling, and broadband technology. At a time of rising unemployment, it is astounding and unfortunate that President Bush and Senate Republicans rejected this effort.

I understand the concerns that have been raised about this emergency legislation. No one wants to see a commitment of this much money going to buy up bad debt. But we have improved the plan by building in safeguards for the taxpayer and trying to reduce the plan’s overall cost. And, again, I strongly believe that failing to approve it will be far worse for everyone.

If this bill were just about helping Wall Street, given its behavior, I wouldn’t walk across the street to save it. But this is about our country. It is about our communities, families and access to credit, creating jobs and economic growth. It will not solve our economic problems overnight, that is for sure. And I don’t know anyone who is glad that we even have to consider this plan. But we must approve it in order to move forward.

In the face of grave and growing instability in our credit and financial markets, the President made an urgent appeal to Congress. He presented a three-page plan to grant never-before-seen powers to the Treasury Secretary to spend a staggering $700 billion in taxpayer money to buy up the bad debt held by banks and investment firms – with no accountability and no protection for taxpayers.

Along with many lawmakers from both parties, I rejected the President’s request for a ‘blank check.’ But I did not dismiss the need to take action to help workers and families already hurt by long-standing economic problems who will suffer further if the financial crisis becomes the full scale economic meltdown so many experts predict.

Americans will not be able to borrow to make payroll at small businesses, invest in new equipment, take out college loans, find mortgages, start new businesses, or buy new cars.

Left unchecked, this crisis will further erode people’s retirement savings accounts, pension funds, and other savings, raise unemployment, and undermine our ability to create new jobs. As we are seeing in California, school districts, counties, and cities are losing millions of dollars because of the collapse of firms in which they held investments.

To protect the taxpayer and help the economy, I successfully fought to add several key provisions to the bill, making it now a far cry from the President’s original three-page plan. We added provisions to:

-- provide money in stages, not all at once, and with congressional approval, to buy up bad debt from financial firms;

-- limit the compensation of CEOs whose firms the government rescues. No more golden parachutes for Wall Street tycoons who get government assistance;

-- provide immediate, ongoing and tough oversight by independent boards, including the Inspector General and General Accounting Office;

-- give taxpayers stock equity of the companies that they rescue, giving them a share of the profits as those companies recover and reducing the overall cost of the plan;

-- help families in foreclosure;

-- provide a mechanism to require companies to pay for any losses the taxpayer might face from this plan, and;

-- increase federal bank deposit insurance from $100,000 to $250,000.

These are very important changes.

The American economy is in its weakest condition in years, with rising unemployment, stagnant and declining wages, record high energy costs, and soaring food prices. Mortgage foreclosures are rising while home values decline further. Fundamental investments in our economy remain unmet – for health care, infrastructure, new energy sources, and for education. Add to this now the very real credit and financial crisis.

While the housing crisis and collapse of the financial markets has its roots in the excesses of Wall Street and Republican anti-regulation policies in Washington, the impact of widespread bankruptcies and frozen credit will be felt by each of us.

Americans have every right to be furious with Wall Street CEOs and eight years of the Bush Administration and 12 years of the Republican-led Congress that did nothing but cut taxes for the rich, de-regulate the banks, and turn their backs on critical oversight.

Now, the party for Wall Street that has been a nightmare for Main Street is over.

I pushed for investments in the emergency plan that would have created good paying jobs in California and across America, infusing money for mass transit, highways, bridges, water recycling, and broadband technology. At a time of rising unemployment, it is astounding and unfortunate that President Bush and Senate Republicans rejected this effort.

I understand the concerns that have been raised about this emergency legislation. No one wants to see a commitment of this much money going to buy up bad debt. But we have improved the plan by building in safeguards for the taxpayer and trying to reduce the plan’s overall cost. And, again, I strongly believe that failing to approve it will be far worse for everyone.

“Through the thousands of calls, emails and letters sent to my office, I know that my constituents want Congress to take action to avert further economic distress, but south-central Michigan believes Congress must not take action just to take action. The vast majority of my constituents are working hard, paying their bills and making ends meet for their families, and they believe real alternatives exist to running up the bill the government sends to taxpayers.

“While I am pleased some positive reforms have been made to the bill the House rejected on Monday, including a provision to provide greater FDIC protection to Americans and America’s hometown banks as well as the SEC working on reform to mark-to-market accounting, this bill remains a massive, $700 billion taxpayer financed bailout. Additionally, as too often is the case in Washington, unrelated spending items have been tacked on to this bill, including special interest provisions such as millions of dollars for makers of wooden arrows, the Puerto Rican and Virgin Islands rum industry, wool fabric producers and Hollywood movie makers. All of these Washington, D.C. special interest provisions have nothing to do with addressing America’s financial crisis and providing the fundamental reform our economy desperately needs.

“I continue to be disappointed in President Bush and Secretary Paulson for refusing to consider other options and reforms. I cannot support putting future generations of Americans in debt to pay for this expensive band aid that will not solve our long-term economic problems.”

Rep. Tim Walberg, who represents the Jackson County area, voted against the previous bailout measure. His office released an e-mail statement from Walberg on Wednesday night criticizing the approach Washington is taking in dealing with the financial crisis.
“Common-sense reforms exist that could immediately insert new private capital into our markets without putting taxpayers at risk, and I will keep working with my colleagues to push for these important reforms,” said the e-mail from Walberg, R-Tipton. “I continue to be disappointed in President Bush and (Treasury) Secretary (Henry) Paulson for refusing to consider other options and reforms.”

The greed and irresponsibility that we have witnessed by some on Wall Street, fueled by the deregulation mindset that prevailed in the previous Republican Congress, led us down this perilous path.  We definitely need to act to address our economic crisis, but whatever we do the solution must put hard-working families first.

Yesterday I discussed the financial crisis and what I would like to see in a new recovery package with Patt Morrison on KPCC 89.3.

 You can listen to the interview by clicking here (mp3 file).

12 Comments]]> Wed, 01 Oct 2008 16:39:06 CDT Today marks the day when the drilling moratoria on oil shale and most of the Outer Continental Shelf will expire, meaning that the Democrats have surrendered to the pleas of Americans across the country to lower gas prices and keep us on the path to energy independence. This achievement is a step in the right direction, but it is far from a solution to our nation’s energy crisis. While most of the focus of our nation is on the current economic situation, we should not be ignorant of the fact that part of American’s economic woes today are due, in large part, to skyrocketing energy prices. We must demand energy policy that will include coal, nuclear, coal-to-liquids, renewables, and support for new ways to power automobiles. We are dependent on foreign crude oil and must deal with our current situation and drill domestically to achieve lower prices. Congress owes it to hardworking Americans to implement real energy solutions. - Anna Koch, Press Secretary to Rep. Conaway

Politico.com reports today that the Senate will consider another bailout proposal tonight. The House of Representatives is scheduled to reconvene Thursday afternoon.

In a written statement, Walberg said the bill was “nothing more than an expensive, taxpayer-funded Band-aid that will not solve our long-term economic problems.” He called for market-to-market accounting, net worth certificates and reducing taxes and regulations that he said prevent capital from entering the market.

Coldwater Daily Reporter:

U.S. Rep. Tim Walberg, who opposed it, said “While I applaud the efforts of House Republicans to improve this proposal, the bailout bill … is nothing more than an expensive, taxpayer-funded band aid that will not solve our long-term economic problems.”
Walberg continued, in a press release, “I am extremely disappointed in President Bush for refusing to consider other options and for thrusting this legislation on the American people in a way that only created more uncertainty. Secretary Paulson has failed the American people by refusing alternative plans… Today our financial markets face serious challenges that could result in dire consequences, and while Congress can take action to avert further economic distress, Congress must not take action just to take action.”

Jackson Citizen Patriot:

Meanwhile in Washington, U.S. Rep Tim Walberg, R-Tipton, issued a statement calling the $700 million rescue package “an expensive, taxpayer-funded Band-Aid that will not solve our long-term economic problems.”

Lansing State Journal:

Rep. Tim Walberg, R-Tipton, said he was “extremely disappointed” in Republican President Bush and said Paulson had “failed the American people by refusing alternative plans.”
Walberg was among conservative Republicans who proposed other measures, including a suspension of the capital gains tax.
“Congress must not take action just to take action,” Walberg said.

Toledo Blade:

U.S. Rep. Tim Walberg (R, Tipton, Mich.) said the bailout was ‘an expensive, taxpayer-funded Band-Aid that will not solve our long-term economic problems.’
Among his proposed solutions, Mr. Walberg advocated lowering capital gains and corporate tax rates ‘to enable American companies to compete, innovate, grow, and expand.’

Moon explorers will need to navigate in darkness around the moon's south pole and collect lunar regolith, or moon dust, for on-site analysis and radiation detection. They will need to communicate with Earth, a lunar outpost and spacecraft orbiting the moon. Moon inhabitants also will conduct video surveys of the moon's surface for transmission back to Earth, and practice rescue and the safe return of astronauts to their outpost from sorties.

Moon dust has the potential to serve as an on-site resource for building materials, water and oxygen. However, because of its structure, the dust can damage space suits, rovers and other equipment. The particles have sharp, jagged edges and contain microscopic shards of glass. Tool or instrument designs that can withstand the sharp-edged particles could help future astronauts and might earn students an internship at a NASA facility.

The contest is open to full-time students enrolled in accredited post-secondary institution such as universities, colleges, trade schools, community colleges and professional schools in the United States or its territories. Individuals or teams may apply, and interdisciplinary teams from across departments and institutions are encouraged.

NASA plans to invite contest winners to the next set of lunar technology mission tests planned for the summer or fall of 2009. Paid internships also are planned as student awards. The contest continues NASA's tradition of investing in the nation's education programs and ties into the agency's goal of strengthening NASA and America's future workforce.

To participate in the contest, students must submit a notice of intent to NASA by Dec. 15, 2008, with final papers due May 15, 2009. Specific details about how participation in the NASA University Design Contest in Exploration Systems, including submission requirements, can be found on the Web at http://moontasks.larc.nasa.gov.

0 Comments ]]> Tue, 30 Sep 2008 12:17:00 CDT In August, while Democrats were on vacation, Republicans took to the dark House floor to protest Speaker Pelosi’s inaction on energy legislation. The Republican message centered primarily on domestic energy production. The Republicans’ protests – which reflected the views of the American public – were successful in keeping the Congressional moratorium on oil and gas exploration from being extended.

Today is a monumental day in the quest for energy independence, as the federal ban on energy exploration off our coasts has expired. To ensure Americans have access to the vast resources available in areas such as the Outer Continental Shelf, the Alaska National Wildlife Reserve and the Mountain West, Congress must continue to work on legislation that enables these resources to be brought to market and reduce our dependence on foreign sources of oil.

Rep. Culberson is a co-sponsor of a bi-partisan energy bill (H.R. 6709) that will bring relief to Americans by increasing domestic exploration and diversifying our country’s energy portfolio. The bill would increase energy conservation by extending tax credits for renewable energy production and hybrid cars, and improve energy efficiency by establishing tax credits for energy efficient buildings and homes. Additionally, the bill would increase domestic energy supply by allowing drilling 25 miles off our coasts. More production means more American jobs and growing our ailing manufacturing industry. Congress must act now or the victory will be short-lived.

0 Comments ]]> Mon, 29 Sep 2008 17:38:00 CDT

]]> Mon, 29 Sep 2008 16:42:27 CDT Today, the Financial Rescue Plan or the $700 billion dollar taxpayer funded bailout, failed to get enough support from either side of the aisle to pass.  I, as many of you know, did not support the plan because of its failure to protect the taxpayers. This bailout failed to address the fundamental cause that created this problem and failed to lessen the credit and housing crunch. It creates the largest national debt in U.S. history, forcing generations of taxpayers to pick up the tab for Wall Street losses.

Since the beginning of this crisis, I have stated that I would not support a taxpayer funded bailout of irresponsible lenders and borrows. Although the plan was considerably better than the Bush Administration’s proposal of last week, including important provisions to eliminate CEO and Wall Street Executive’s golden parachute and increasing Wall Street accountability, mere improvements were not enough to gain my support.

There are alternatives to the Paulsen/Pelosi plan and today I cosponsored a plan that allows Wall Street to work this out and not bail them out. We must now come together solve this crisis in a way that the American people support.

To read my statement regarding the vote click here.

 To read my statement regarding the plan I cosponsored click here.

]]> Mon, 29 Sep 2008 15:55:33 CDT

“These are common-sense reforms that could be put in place right away, if Congress would take time to debate alternative ideas to a taxpayer financed bailout. Instead, our President, the Treasury Secretary and a frenzied media climate have eliminated the possibility of further debate to work on a deal that would protect taxpayers.”