COMMITTEE UPDATE
NCSL 2008 Spring Forum
The NCSL 2008 Spring Forum in Washington, D.C. is being held April 24-26 at the Hyatt Regency on Capitol Hill. The Labor and Economic Development Committee Agenda and is now available on the committee website along with the policies to be considered at the committee business meeting. Session topics include business incentives, mine safety, aviation and economic development, and unemployment insurance. For more information on Spring Forum please visit the meeting website.
IN THE NEWS
President Bush Announces Nomination of Steve Preston as Secretary of Housing and Urban Development
April 18, 2008
White House Press Release
Today, President Bush announced his intention to nominate Steve Preston to serve as the next Secretary of Housing and Urban Development. A strong executive with an outstanding track record in the private sector and at the Small Business Administration (SBA), Administrator Preston has a deep financial and capital markets background, and he understands the important role that the housing market plays in the broader economy. President Bush is confident that Administrator Preston is a reformer who will act aggressively to help struggling Americans obtain affordable mortgages and keep their homes, as well as help ensure that all Americans have access to safe, decent, affordable housing.
House Amends Rules on TPA Time Lines Delaying Indefinitely Vote on Colombia FTA
Dealing a blow to President Bush's trade agenda, the House April 10 voted 224-195 to remove the mandatory Trade Promotion Authority (TPA) time lines from consideration of the U.S.-Colombia Free Trade Agreement (FTA), postponing a vote indefinitely.
President Bush in a statement called the House action "unprecedented and unfortunate," adding that it was damaging to the U.S. economy, national security, and relations with an important ally.
"Rather than supporting the opening of markets for our farmers and manufacturers, Democratic congressional leaders instead listened to narrow special interests and followed an isolationist path," he said.
Bush also said that Congress has broken a bond of trust between the executive branch and the Congress, and with U.S. trading partners, that has served the United States well for decades. "By breaking this bond, Democrats have undercut not just this Administration, but future Administrations as well. This will weaken our nation's ability to negotiate fair trade agreements for American workers, farmers, ranchers, and service providers," he said.
The vote was largely along party lines. Ten Democrats voted against the rule change and one Democrat voted present. The Democrats who broke with party ranks were Reps. Melissa Bean (D-Ill.), Dan Boren (D-Okla.), F. Allen Boyd (D-Fla.). Jim Cooper (D-Tenn.), Robert Cramer (D-Ala.), Henry Cuellar (D-Texas), Baron Hill (D-Ind.) Nicholas Lampson (D-Texas), Timothy Mahoney (D-Fla.), and Jim Matheson (D-Utah).
More states give tax credits to working poor
By: Christine Vestal
Stateline.org
This tax season, even more low- and moderate-income taxpayers can look forward to a check from their states along with their federal refunds, thanks to new state laws that aim to put cash in the hands of the working poor.
Washington state, New Mexico, North Carolina and Louisiana this year joined 20 other states in offering so-called Earned Income Tax Credit (EITC) programs — an initiative patterned after a successful federal tax credit program for the poor launched in the mid-1970s that gives federal taxes back to low-income taxpayers. In addition, several states with existing programs increased the amount of the benefits.
Under state EITCs
Foreclosures Push States to Try a Mix of Solutions
By: John Leleand
The New York Times
April 16, 2008
As the federal government debates responses to the foreclosure crisis, states are experimenting with a broad range of solutions, including emergency loans and agreements to limit high interest rates. The result is a rapidly changing patchwork of local approaches, some far-reaching, others modest, according to a survey issued Tuesday by the Pew Charitable Trusts.
Pending Home Sales Hit Low in February
By: Alan Zibel
The Associated Press
April 8, 2008
WASHINGTON -- An industry group said Tuesday that pending U.S. home sales fell in February to the lowest reading since the index began, signaling the housing market distress is not yet over.
The National Association of Realtors' seasonally adjusted index of pending sales for existing homes fell to 84.6 from January's upwardly revised reading of 86.2. The index stood at 107.6 in February 2007.
U.S. Economy Shed 80,000 Jobs in March
Associated Press
April 4, 2008
WASHINGTON (AP) — Employers worried about recession slashed 80,000 jobs in March, the most in five years and the third consecutive month of losses.
At the same time, the national unemployment rate rose to 5.1 percent from 4.8 percent, the clearest signal yet that the economy might already be contracting. The new snapshot of the job market, released by the Labor Department on Friday, underscored the damage that a trio of crises — in the housing, credit and financial sectors — has inflicted on companies, jobseekers and the economy as a whole.
RECENT REPORTS
Employment and Training: Most One-Stop Career Centers Are Taking Multiple Actions to Link Employers and Older Workers
GAO-08-548, April 21
http://www.gao.gov/cgi-bin/getrpt?GAO-08-548
