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Paul Introduces SEC Transparency Act

Ron Paul's House Member Office (R-TX-14) posted a Press Release on July 29, 2010 | 9:00 am - Original Item - Comments (View)

Washington, D.C. - Congressman Ron Paul today introduced the SEC Transparency Act of 2010.  Recent news reports have publicized a little-noticed provision in the recently-passed financial reform package that the Securities and Exchange Commission (SEC) has used to deny requests for information under the Freedom of Information Act (FOIA).


Congressman Paul's SEC Transparency Act of 2010 repeals the provision in the newly-passed legislation that the SEC has used to deny FOIA requests and ensures that the SEC will remain transparent and accountable to the American people.


“It is unfortunate, yet not unexpected, that legislation touted as fixing problems with the banking system, actually makes them worse and provides more cover and power for organizations that failed us like the SEC and the Fed.  I expect in the coming weeks and months that many more harmful provisions like this will come to light and it will take quite a bit of work to undo the damage from this massive and misguided legislation,” stated Congressman Paul.


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Paul Introduces SEC Transparency Act

Ron Paul's House Member Office (R-TX-14) posted a Press Release on July 29, 2010 | 9:00 am - Original Item - Comments (View)

Washington, D.C. - Congressman Ron Paul today introduced the SEC Transparency Act of 2010.  Recent news reports have publicized a little-noticed provision in the recently-passed financial reform package that the Securities and Exchange Commission (SEC) has used to deny requests for information under the Freedom of Information Act (FOIA).


Congressman Paul's SEC Transparency Act of 2010 repeals the provision in the newly-passed legislation that the SEC has used to deny FOIA requests and ensures that the SEC will remain transparent and accountable to the American people.


“It is unfortunate, yet not unexpected, that legislation touted as fixing problems with the banking system, actually makes them worse and provides more cover and power for organizations that failed us like the SEC and the Fed.  I expect in the coming weeks and months that many more harmful provisions like this will come to light and it will take quite a bit of work to undo the damage from this massive and misguided legislation,” stated Congressman Paul.


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House GOP Champions Paul's "Audit the Fed"

Ron Paul's House Member Office (R-TX-14) posted a Press Release on June 30, 2010 | 9:00 am - Original Item - Comments (View)

Washington, D.C. - Congressman Paul was pleased today when House Republicans submitted a Motion to Recommit the financial regulatory reform bill as a last effort to include his provision to fully audit the Federal Reserve in the final version.

The conference committee failed to include this provision, supported by 320 Members of the House, in the final version of the massive reform bill, which grants sweeping new regulatory powers to the Federal Reserve, while doing nothing to address the root causes of current economic problems.

“It is foolish to grant more powers to the institutions that caused all the moral hazard and malinvestments that got us into this mess.  It is doubly foolish to do so without any meaningful accountability or transparency,” stated Congressman Paul.

Unfortunately, the Motion to Recommit was defeated 198 to 229 and the final bill passed the House shortly afterwards.

House GOP Champions Paul's "Audit the Fed"

Ron Paul's House Member Office (R-TX-14) posted a Press Release on June 30, 2010 | 9:00 am - Original Item - Comments (View)

Washington, D.C. - Congressman Paul was pleased today when House Republicans submitted a Motion to Recommit the financial regulatory reform bill as a last effort to include his provision to fully audit the Federal Reserve in the final version.

The conference committee failed to include this provision, supported by 320 Members of the House, in the final version of the massive reform bill, which grants sweeping new regulatory powers to the Federal Reserve, while doing nothing to address the root causes of current economic problems.

“It is foolish to grant more powers to the institutions that caused all the moral hazard and malinvestments that got us into this mess.  It is doubly foolish to do so without any meaningful accountability or transparency,” stated Congressman Paul.

Unfortunately, the Motion to Recommit was defeated 198 to 229 and the final bill passed the House shortly afterwards.

Paul Pleased by Floor Vote on End the Mandate

Ron Paul's House Member Office (R-TX-14) posted a Press Release on June 15, 2010 | 9:00 am - Original Item - Comments (View)

Washington, D.C. - Congressman Paul was gratified today when House Republicans forced a vote on the floor to strip the most authoritarian measure from the new healthcare reform law - the requirement that every American buy government-approved health insurance or face stiff IRS penalties. Essentially, today’s resolution adopted Paul’s “End the Mandate” legislation (HR 4995) as a motion to recommit on a related tax bill.

The motion failed with a final vote count of 230 nays and 187 yeas, with a significant number of Democrats crossing party lines to vote yea.
 
Though the “End the Mandate” vote did not succeed in reversing this odious measure, it is a positive sign for renewed and ongoing efforts to prevent America from moving closer to a government-run healthcare system.

“I am pleased to see so many of my colleagues in agreement with me about the health insurance mandate.  With so many in Congress on both sides of the aisle willing to continue this fight, my hope is that we won’t give up until this provision, and many others, are repealed,” stated Congressman Paul.

Paul Pleased by Floor Vote on End the Mandate

Ron Paul's House Member Office (R-TX-14) posted a Press Release on June 15, 2010 | 9:00 am - Original Item - Comments (View)

Washington, D.C. - Congressman Paul was gratified today when House Republicans forced a vote on the floor to strip the most authoritarian measure from the new healthcare reform law - the requirement that every American buy government-approved health insurance or face stiff IRS penalties. Essentially, today’s resolution adopted Paul’s “End the Mandate” legislation (HR 4995) as a motion to recommit on a related tax bill.

The motion failed with a final vote count of 230 nays and 187 yeas, with a significant number of Democrats crossing party lines to vote yea.
 
Though the “End the Mandate” vote did not succeed in reversing this odious measure, it is a positive sign for renewed and ongoing efforts to prevent America from moving closer to a government-run healthcare system.

“I am pleased to see so many of my colleagues in agreement with me about the health insurance mandate.  With so many in Congress on both sides of the aisle willing to continue this fight, my hope is that we won’t give up until this provision, and many others, are repealed,” stated Congressman Paul.

Paul Urges a Full and Complete Audit of the Federal Reserve

Ron Paul's House Member Office (R-TX-14) posted a Press Release on June 10, 2010 | 9:00 am - Original Item - Comments (View)

Washington, D.C. - House Conference Committee members, which will reconcile the House and Senate versions of the financial reform bill, have been announced.  Congressman Paul is pleased to note that 15 out of 31 total conferees are cosponsors of HR 1207, his bill to audit the Federal Reserve Bank.

The House-passed version of the financial reform bill contains the basic language of HR 1207 (in the Paul-Grayson amendment).  However, a similar amendment offered by Senator Vitter to the Senate version was rejected by the Senate.  Thus, it is essential that conferees consider adding the undiluted language of the Paul-Grayson amendment when reconciling the Senate and House versions of the Financial Reform Bill.  Only the full language of the Paul-Grayson amendment will insure a thorough, complete, and ongoing audit of the Fed.

“This Financial Reform bill is set to grant sweeping new powers to the Federal Reserve, which has made a mess of our economy.  If my colleagues insist on expanding the power of the Fed, the very least they can do is require the Fed to be transparent rather than secretive in its actions,” stated Congressman Paul.  “Luckily, many of the conferees already have demonstrated their concern about transparency by cosponsoring HR 1207, and hopefully those conferees will insist on full transparency in the conference report.”

The House Conferees are:  (Democrat/Republican) Representatives Frank, Kanjorski, Waters, Maloney, Gutierrez, Watt, Meeks (NY), Moore (KS), Kilroy, Peters, Peterson, Boswell, Waxman, Rush, Conyers, Berman, Towns, Cummings, Velazquez, Shuler, Bachus, Royce, Biggert, Capito, Hensarling, Garrett, Lucas, Barton, Smith (TX), Issa, and Graves.

Paul Urges a Full and Complete Audit of the Federal Reserve

Ron Paul's House Member Office (R-TX-14) posted a Press Release on June 10, 2010 | 9:00 am - Original Item - Comments (View)

Washington, D.C. - House Conference Committee members, which will reconcile the House and Senate versions of the financial reform bill, have been announced.  Congressman Paul is pleased to note that 15 out of 31 total conferees are cosponsors of HR 1207, his bill to audit the Federal Reserve Bank.

The House-passed version of the financial reform bill contains the basic language of HR 1207 (in the Paul-Grayson amendment).  However, a similar amendment offered by Senator Vitter to the Senate version was rejected by the Senate.  Thus, it is essential that conferees consider adding the undiluted language of the Paul-Grayson amendment when reconciling the Senate and House versions of the Financial Reform Bill.  Only the full language of the Paul-Grayson amendment will insure a thorough, complete, and ongoing audit of the Fed.

“This Financial Reform bill is set to grant sweeping new powers to the Federal Reserve, which has made a mess of our economy.  If my colleagues insist on expanding the power of the Fed, the very least they can do is require the Fed to be transparent rather than secretive in its actions,” stated Congressman Paul.  “Luckily, many of the conferees already have demonstrated their concern about transparency by cosponsoring HR 1207, and hopefully those conferees will insist on full transparency in the conference report.”

The House Conferees are:  (Democrat/Republican) Representatives Frank, Kanjorski, Waters, Maloney, Gutierrez, Watt, Meeks (NY), Moore (KS), Kilroy, Peters, Peterson, Boswell, Waxman, Rush, Conyers, Berman, Towns, Cummings, Velazquez, Shuler, Bachus, Royce, Biggert, Capito, Hensarling, Garrett, Lucas, Barton, Smith (TX), Issa, and Graves.

Senate Conferees are: 

Chris Dodd (D-Conn.)  Tim Johnson (D-S.D.), Jack Reed (D-R.I.), Charles Schumer (D-N.Y.), Richard Shelby (R-Ala.), Bob Corker (R-Tenn.), Mike Crapo (R-Idaho) and Judd Gregg (R-N.H.) Blanche Lincoln (D-Ark.) Patrick Leahy (D-Vt.), Tom Harkin (D-Iowa) and Saxby Chambliss (R-Ga.).

Paul Introduces Homeowner Tax Credit Extension and Expansion Act

Ron Paul's House Member Office (R-TX-14) posted a Press Release on May 25, 2010 | 9:00 am - Original Item - Comments (View)

Washington, D.C. - Congressman Ron Paul (TX-14) today introduced legislation to permanently extend the first-time homebuyer tax credit and to make the credit available to people whose homes have been destroyed by a natural disaster, such as a hurricane.

The legislation also makes a number of changes to existing tax credits in order to enhance their usefulness to victims of natural disasters. Specifically, this bill makes casualty loss deductions available to taxpayers who do not itemize, and makes it available to them for five years after the disaster. This legislation also helps people who have lost their jobs because of a natural disaster by making unemployment payments provided under the Disaster Relief and Emergency Assistance Act tax free.

Renewing the first-time home buyer’s credit will help Americans purchase a first home with their own money, instead of having to rely on government-funded or backed programs. 

The other sections of this legislation were inspired by conversations Congressman Paul and his staff had with constituents who had to purchase new homes because Hurricane Ike destroyed their prior homes.  The first-time homebuyer’s tax credit could be of tremendous value to these people, yet the law denies them the credit because they are replacing destroyed homes.

“It is hard to think of a more beneficial or compassionate expansion of the first-time homebuyer tax credit than to make the credit available to those whose homes have been destroyed or damaged by natural disasters,” stated Congressman Paul.  “In addition, the changes to the casualty loss provision will help more taxpayers affected by natural disasters.  Providing tax relief to first-time homebuyers and to those affected by natural disasters should be one of Congress’ top priorities.”

Paul Introduces Homeowner Tax Credit Extension and Expansion Act

Ron Paul's House Member Office (R-TX-14) posted a Press Release on May 25, 2010 | 9:00 am - Original Item - Comments (View)

Washington, D.C. - Congressman Ron Paul (TX-14) today introduced legislation to permanently extend the first-time homebuyer tax credit and to make the credit available to people whose homes have been destroyed by a natural disaster, such as a hurricane.

The legislation also makes a number of changes to existing tax credits in order to enhance their usefulness to victims of natural disasters. Specifically, this bill makes casualty loss deductions available to taxpayers who do not itemize, and makes it available to them for five years after the disaster. This legislation also helps people who have lost their jobs because of a natural disaster by making unemployment payments provided under the Disaster Relief and Emergency Assistance Act tax free.

Renewing the first-time home buyer’s credit will help Americans purchase a first home with their own money, instead of having to rely on government-funded or backed programs. 

The other sections of this legislation were inspired by conversations Congressman Paul and his staff had with constituents who had to purchase new homes because Hurricane Ike destroyed their prior homes.  The first-time homebuyer’s tax credit could be of tremendous value to these people, yet the law denies them the credit because they are replacing destroyed homes.

“It is hard to think of a more beneficial or compassionate expansion of the first-time homebuyer tax credit than to make the credit available to those whose homes have been destroyed or damaged by natural disasters,” stated Congressman Paul.  “In addition, the changes to the casualty loss provision will help more taxpayers affected by natural disasters.  Providing tax relief to first-time homebuyers and to those affected by natural disasters should be one of Congress’ top priorities.”

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