Housing Help, Avoiding Credit's Crunch, Pump Pressure
Dear Friends,
The news about our economy's downward spiral seems to be getting worse by the day. This week the Providence Journal proclaimed on the front page: Analysts say R.I. economy in recession. The story, by Steve Peoples, states, "The Ocean State's employment figures, its foreclosure rates and personal income growth are worse than its neighbors and national averages." These are indeed challenging times, and I am working tirelessly in Washington to try to ease the burdens on Rhode Island families wherever I can. If you or someone you know needs help, please do not hesitate to call my office. We can help point you in the right direction. Many in our community -- from our Community Action Programs to our food pantries -- are ready to help.
Langevin recently participated in the ribbon cutting for Crossroads Rhode Island's new women's shelter.
Housing Help
Rhode Island, like the rest of the nation, has a housing market under significant stress. Many have experienced the terrible burden of foreclosure, and many more are struggling to avoid it. While Congress has advanced legislation to help homeowners in need, it is equally important that we work at the community level to provide guidance and assistance to families facing foreclosure. To help get people back on track, I am teaming up with Rhode Island Housing to host a Foreclosure Counseling Workshop at the Community College of Rhode Island's Liston Campus this Saturday, May 3 from 10 to noon. This free, public workshop is an opportunity for homeowners who are having trouble paying their mortgage to meet with trained counselors from the Rhode Island Housing HelpCenter. This workshop is a good opportunity for homeowners to get sound advice. While we won't necessarily be able to fix problems on the spot, housing counselors will be able to assess individual situations and offer options that could put a homeowner on the right track.
Langevin recently read to third graders at Fishing Cove Elementary School in North Kingstown.
Did you know?
Saradi Sarin, a junior from Cranston High School East, recently won Langevin's eighth annual Congressional High School Art Competition. This competition is an excellent opportunity to highlight Rhode Island's future artists. Her winning submission, judged by New Urban Arts in Providence, was a pencil drawing entitled, "Sonny". This year's 21 entries were from Warwick, Cranston, Coventry, Scituate, Exeter/West Greenwich, Foster, Glocester, Johnston and North Kingstown.
Avoiding Credit's Crunch
In the current economic downturn, more and more Rhode Islanders are turning to their credit cards to help pay bills, buy groceries, and make ends meet. Instead of looking the other way while Americans fall deeper into debt, I am joining my colleagues to take swift action to address major credit card industry abuses and improve consumer protections for cardholders. I am an original cosponsor of the Credit Cardholders Bill of Rights (HR. 5244), which would:
* Require card companies to give cardholders advance notice of any interest rate hike.
* Give cardholders the right to say "no" to borrowing money at a higher interest rate than they originally agreed to.
* Stop tricks and traps that make cardholders incur rate hikes and pricey fees.
* Empower cardholders to set limits on their credit.
* Shield cardholders from misleading terms.
* Protect vulnerable consumers from fee-heavy subprime cards.
* Require Congress to provide better oversight of the credit card industry.
Pump Pressure
We are all feeling the pinch at the gas pumps these days, and unfortunately there are no simple answers. I firmly believe we need a need a two-pronged approach to solving this problem. First we need to take immediate steps to lower energy costs, while simultaneously pursuing a long-term energy policy that invests in conservation efforts and domestic production of clean and renewable fuels. In the short term, I have supported:
* Funding the Low Income Home Energy Assistance Program (LIHEAP), which helps low-income Americans pay for skyrocketing heating costs, and the Weatherization Assistance Program, which helps low-income households reduce their energy use.
* Legislation that would temporarily suspend shipments to the Strategic Petroleum Reserve, which will provide a small increase to supply and help stabilize costs.
* The Energy Price Gouging Act, which will provide immediate relief to consumers by giving the Federal Trade Commission (FTC) the authority to investigate and punish those who artificially inflate the price of energy.
For the long term, I have supported:
* The Renewable Fuels, Consumer Protection, and Energy Efficiency Act, a landmark package of common-sense solutions to improve energy efficiency.
* The Renewable Energy and Energy Conservation Tax Act of 2008, which will end unnecessary subsidies to big oil companies, invest in clean, renewable energy and energy efficiency and extend and expand tax incentives for renewable electricity, energy and fuel.
Thank you for your continued interest and support. Please do not hesitate to contact me about your priorities and concerns as the 110th Congress continues.
Sincerely,
Jim Langevin