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As Congress prepares to address the economic crisis facing the domestic automobile industry, Speaker Pelosi released the following statement today concerning legislation under development by House Democrats: Recognizing the severe challenges facing the domestic automobile industry, whose failure could jeopardize millions of… Continue

“Recognizing the severe challenges facing the domestic automobile industry, whose failure could jeopardize millions of jobs here at home and have a devastating impact on our economy, the House Democratic bill will provide immediate, targeted assistance to allow the carmakers, together with affected unions, time to develop a plan to assure the long-term viability of the industry.”

Today, the Oversight Committee is holding a hearing on foreclosure prevention: Congress established the $700 billion Troubled Asset Relief Program on October 3, 2008 to deal with the financial crisis. One of TARP's core functions was to prevent future foreclosures through the… Continue

Speaker Pelosi and Leader Reid sent a letter to Treasury Secretary Paulson calling on him to review the feasibility of using the authority given under the Emergency Economic Stabilization Act (EESA) of 2008 to provide temporary assistance to the automobile industry during… Continue

“We are writing to request that you review the feasibility of invoking the authority Congress provided you under the Emergency Economic Stabilization Act of 2008 (EESA) for the purpose of providing temporary assistance to the automobile industry during the current financial crisis.”

America’s families and businesses are facing an economic crisis, and the New Direction Congress is fighting for real solutions to rebuild our economy, create good-paying jobs here at home and making us more competitive in the 21st century global economy, and promote… Continue

Speaker Pelosi today called on the Secretary of the Treasury Henry Paulson to strengthen the conflict of interest provisions included in the Emergency Economic Stabilization Act to ensure that taxpayers' interests are protected. The Speaker said that the conflict of interest interim… Continue

“We all need to assure the American people of our commitment to meaningful oversight and to protecting the interests of taxpayers. I therefore urge you to reconsider your interim guidelines and to strengthen them to avoid even the appearance of conflicts of interest by the same financial institutions who may also benefit [from this program].”