Senator Chris Dodd (D-CT), Chairman of the Senate Banking, Housing, and Urban Affairs Committee, welcomed new federal funding for Connecticut organizations that provide counseling and legal assistance to families facing the threat of foreclosure.  The grants, which were announced today by NeighborWorks America, will provide $681,230 to the Connecticut Housing Finance Authority and $202,536 to the Neighborhood Housing Services of New Haven.  Several national organizations with offices in Connecticut will also receive large grants. 

Senator Chris Dodd (D-CT), Chairman of the Senate Banking, Housing, and Urban Affairs Committee, will hear testimony from James Fleming, the president of the Connecticut Automotive Retailers Association, at the Committee’s second hearing to examine the state of America’s automobile industry on Thursday morning. 

Senator Chris Dodd (D-CT), Chairman of the Senate Banking, Housing, and Urban Affairs Committee, will hear testimony from James Fleming, the president of the Connecticut Automotive Retailers Association, at the Committee’s second hearing to examine the state of America’s automobile industry on Thursday morning. 

Senator Chris Dodd (D-CT), Chairman of the Senate Banking, Housing, and Urban Affairs Committee, on Tuesday will hold the second in a series of hearings entitled “Examining the State of the Domestic Automobile Industry.”  This hearing will follow a previous hearing examining the challenges facing the nation’s largest automobile companies.

Senator Chris Dodd (D-CT), Chairman of the Senate Banking, Housing, and Urban Affairs Committee, on Tuesday will hold the second in a series of hearings entitled “Examining the State of the Domestic Automobile Industry.”  This hearing will follow a previous hearing examining the challenges facing the nation’s largest automobile companies.

“The Banking Committee has received proposals from Ford, Chrysler and GM, which we have shared with Members of Congress and the public.  I look forward to examining these plans in greater detail.

“There is no question that this industry is facing monumental challenges.  The failure of any one of these companies could have catastrophic consequences on our nation’s economy which is already mired in a severe recession.  But if these companies are asking for taxpayer dollars, they must convince Congress that they are going to shape up and change their ways.  Specifically, they must demonstrate a commitment to profitability and viability that includes raising fuel efficiency standards and reining in excessive compensation and perks like private jets.  I look forward to our hearing on Thursday and the opportunity to review these plans with economic and industry experts, as well as representatives from each company.”