Capito Pushes Housing Initiatives

Op-Ed

Capito Pushes Housing Initiatives

Rep. Capito speaks to reporters about the need to address the ongoing instability in the housing market. On Tuesday Capito called for the expansion of a successful Federal Housing Administration program - FHASecure - to enlarge the pool of eligible homeowners who may seek assistance.

Dear Friends and Colleagues,

Homeowners received good news this week as the Federal Housing Administration announced an important expansion of a mortgage insurance program to combat foreclosure. I also introduced new legislation to address security along our southwest border. Finally, please take a look at the survey along the right side of this week's newsletter. I want to hear your views.

Housing Crunch

We saw progress this week on a move to address the ongoing instability in the housing market as the Federal Housing Administration announced plans to expand a program called FHASecure. When combined with modernization efforts, the program stands to help an additional 500,000 homeowners stay in their homes without placing undue risks on the backs of taxpayers.

The FHA announcement followed a letter I sent to the FHA commissioner to encourage the expansion of FHASecure, and I believe FHASecure will provide an important framework as Congress considers other legislative initiatives.

More work must be done, but I'm encouraged by the dialogue taking place in Congress and I believe we can create a bipartisan solution to a problem that's affecting hundreds of thousands throughout our nation.

New Border Protection Bill

In addition to the ongoing housing discussions, I also introduced legislation to expand our efforts to secure the southwest border.

It will give taxpayers an option to contribute to the construction and maintenance of border security barriers and would also create a Border Improvement Trust Fund to provide for future upgrades.

Energy Prices

This week I also reiterated my call for the President to suspend shipments to the Strategic Petroleum Reserve to decrease demand for oil and - in turn - provide relief for the pain at the pump.

We must increase the supply and decrease the demand for gasoline if we're going to see a reduction in gas prices - and withholding shipments to the Strategic Petroleum Reserve presents an important step we can take to see an impact sooner rather than latter.

Then we must get real with a broad discussion about an energy policy that utilizes domestic sources of energy like natural gas, coal-to-liquid technology and carbon-sequestration technology. Our energy policy must reflect the vast resources we have at our disposal.

Sincerely,

Member of Congress

In Case You Missed It...

Capito talks taxes with seniors
Martinsburg Journal
Naomi Smoot
April 5, 2008

MARTINSBURG — Hundreds of thousands of West Virginia's older citizens will have to file tax forms this year if they hope to receive rebates as part of the federal government's economic stimulus program, said U.S. Rep. Shelley Moore Capito, R-W.Va.

"In order to get your rebate, you must have filed a tax form," Capito said during a visit Friday to the Berkeley County Senior Center.

Earlier this year, Congress approved an economic stimulus package which is hoped to help turn around the nation's weakened economy. It is hoped that the package — which includes rebate checks of $300 for qualified senior singles and $600 for qualified senior couples — will help combat recent downturns in the market and stabilize the nation's economic outlook, Capito said.

"Our economy has been suffering some problems lately," she told the room full of seniors.

But the rebate program has resulted in confusion for some citizens. Individuals who do not typically have to file taxes will need to do so this year to qualify for the rebate checks. As many as 20 million people nationwide and 100,000 to 150,000 West Virginians are expected to fall into this category, she said.

Capito said constituents have approached her about who will qualify, how they can get their rebates, and other similar questions. She said she was at an event at a senior center in the southern portion of her district when she learned just how much confusion surrounds the program. It was for this reason, she explained, that she made a stop in Berkeley County this week.

Capito said low-income seniors and those receiving Social Security payments, a veteran's pension or other similar funds must file a tax return in order to get their rebates. Those who are currently claimed as dependents, whether they are a senior or a student in high school or college, will not be eligible for the rebates though, she noted.

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