INITIATIVES

Elections

Re-election of Congressman Randy Forbes

Legislation

Health Care Reform
Cap-and-Trade Program
Financial Regulation Reform
Economic Recession and Recovery
Federal Education Loan Program

Health Care Reform

H.R. 3200, America's Affordable Health Choices Act of 2009 H.R. 3200 would establish an individual mandate for all U.S. residents to obtain health insurance coverage; set up health insurance “exchanges” to purchase coverage and, through which, some individuals and families could receive subsidies toward the cost of purchasing insurance; expand eligibility for the Medicaid program; modify the Medicare and Medicaid programs; and, impose an income-tax surcharge on top-earners.

House of Representatives Bill
Senate Bill
Kaiser Foundation Side-by-Side of Major Proposals
Healthways Investment Analysis
The Lewin Group Cost Analysis and Policy Review
Congressional Budget Office Cost Analyses
HSI Network Cost Analyses

Cap-and-Trade Program

H.R. 2454, American Clean Energy and Security Act (ACESA) of 2009 H.R. 2454 would create a cap-and-trade program for greenhouse gas (GHG) emissions, an incentive-based approach for regulating the quantity of emissions. It would set a limit (the cap) on total emissions over the 2012 to 2050 period and would require regulated entities to hold rights to emit GHG's. After allowances were distributed, entities would be free to buy and sell them (the trade). The bill would also make a number of other significant changes in climate and energy policy.

Financial Regulation Reform

Efforts to reform the nation's financial system and related regulations remain in the works, with only suggested legislative language and policies proposed formally by the Obama Administration to Congress. The final piece of the President's reform agenda was delivered to Congress on August 11: a 115-page document guiding regulation of the over-the-counter derivative (OTC) market.

Economic Recession and Recovery

"It was two years ago, in August 2007, when it became evident that the housing virus was passing into the banking system. A couple of Bear Stearns hedge funds were liquidated. BNP Paribas suspended withdrawals from funds that had invested in U.S. subprime mortgages. Then banks suddenly began to be reluctant to lend even to each other... A full year later, the patient didn't seem to be in all that much danger... Then, the patient took a turn for the worst. In the fall of 2008, the financial system came terrifyingly close to cataclysmic collapse." (The Wall Street Journal, August 13, 2009, David Wessel) A review can be gleaned of the current economic climate and recent legislation that has sought to impact it, including H.R. 1, American Recovery and Reinvestment Act (ARRA) of 2009, from the following items.

Federal Education Loan Programs

H.R. 3221, Student Aid and Fiscal Responsibility Act (SAFRA) of 2009 would amend the Higher Education Act of 1965, which authorized most Federal postsecondary education programs. It would effectively end the Federal Family Education Loan (FFEL) program by prohibiting new federally guaranteed loans from being made under it. Also, it would increase direct spending for the Federal Pell Grant program among others.