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  10. '14

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Occurrences in the Congressional Record

Entry Title Date
Financial Services And General Government Appropriations Act, 2015 July 15, 2014
Brad Sherman, D-CA
"What will be the effect on our economy? Well, this will add $2 trillion to the balance sheet liabilities of American businesses. It will put a tremendous disincentive on businesses to sign long-term leases. If your tenant won’t sign a long-term lease, you can’t fund a new building project, a new shopping center, or a new industrial park. So that is why an economic study funded by the American Association of Realtors, the Economic Roundtable, the Business Owners and Management Association, and others says that the best-case scenario is that this will destroy 190,000 American jobs and reduce our GDP by almost $28 billion a year. The worst-case scenario is over 3 million jobs and nearly half a trillion dollars decline in our GDP."
Recess June 10, 2014
Jack Reed, D-RI
"Since 2003, student loan debt has quadrupled. It has surpassed credit card debt, and it is only second to mortgage debt for American households. We know that borrowers are struggling with this debt. Delinquency rates are substantially higher for student loans than for other types of debt. Default rate have risen. The Federal Reserve Bank, the National Association of Realtors, the Consumer Financial Protection Bureau, the Pew Research Center, and others have begun to sound the alarm about the broader impacts of student loan debt on our economy."
In Recognition Of Mrs. Donna Quince-Cobb For Her Commitment To Supporting Entrepreneurship In The Pontiac Community June 9, 2014
Gary Peters, D-MI
"Mrs. Quince-Cobb has an incredible passion for serving others, which is evident in her daily life. Forty years ago, her career began as a secretary to seven insurance agents, while simultaneously attending college. She diligently pursued her interest in sales and shortly after, acquired her own agency in 1982. Mrs. Quince-Cobb finds special joy in supporting children and the elderly. She is currently involved in a variety of community organizations, which also allows her to positively impact many lives. She is a charter member of the Noon Optimist Club of Auburn Hills and the North Oakland County Women’s Council of Realtors. Concurrently, she dedicates her time to the spiritual needs of others through her volunteer service with the Senior Usher Board, the Deaconess Ministry, Pastor’s Care, and Travel Ministries of Welcome Missionary Baptist Church."
Nomination Of Roy K.J. Williams To Be Assistant Secretary Of Commerce For Economic Development May 14, 2014
Sherrod Brown, D-OH
"In many ways it is a phantom income. If it is a short sale or they get a principal reduction—as I was discussing with Ohio realtors today—the homeowners never really get the money for it, but they are hit with the tax bill as if they had gotten that income. We have extended this tax forgiveness, if you will, in the past because Members of both parties recognize there is still a critical need for it."
Helping Expand Lending Practices In Rural Communities Act May 6, 2014
Andy Barr, R-KY
"Once again, I am pleased that this is a bipartisan bill. I want to thank especially Congressman Hinojosa for his input in helping to improve this legislation. I also want to thank all of the other cosponsors of the bill, which is endorsed by a broad coalition, including the Kentucky Bankers Association, the Conference of State Bank Supervisors, the Kentucky Credit Union League, the Credit Union National Association, the National Association of Federal Credit Unions, the American Bankers Association, the Independent Community Bankers of America, the National Association of Realtors, and the chairman of the Kentucky Department of Financial Institutions—again, the top banking regulator in Kentucky, Commissioner Charles Vice."

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