Thursday, January 29, 2009
Jerry Costello on the Stimulus
Rep. Costello sent out the following regarding his approval of a particular provision of the stimulus package.
COSTELLO PLEASED “BUY AMERICA” PROVISION FOR U.S. STEEL IS INCLUDED IN STIMULUS LEGISLATION
Washington – Congressman Jerry Costello (D-IL) today applauded the House Appropriations Committee’s approval of a “Buy America” provision for the use of U.S. steel as part of the economic stimulus legislation. The economic downturn has hurt the domestic steel industry, resulting in production declines and worker layoffs. In the Metro East, Granite City Steel has been idled and Alton Steel has also laid-off workers.
Costello has been a vocal supporter of this provision and previously urged Speaker Nancy Pelosi and Minority Leader John Boehner to include the use of U.S. steel for infrastructure projects in the stimulus legislation.
“At a time when our economy is stalled, using American steel to build our infrastructure is the right thing to do and will energize our manufacturing sector and maintain and create jobs in the steel industry,” said Costello.
Costello has been very active on issues affecting the domestic steel industry, including supporting steel tariffs earlier this decade and testifying before the International Trade Commission.
Labels: economy, Jerry Costello
Tuesday, January 27, 2009
Costello on TARP
Rep. Costello sent out the following press release today regarding his stance on the TARP:
COSTELLO OPPOSES RELEASE OF ADDITIONAL TARP FUNDS
Washinton - Congressman Jerry Costello (D-IL) today voted against releasing the remaining $350 billion from the Troubled Asset Relief Program (TARP). Costello also opposed the original financial bailout legislation that created TARP.
"I voted against the financial bailout because I was concerned that we rushed its consideration without adequately assessing how the money would be used or if there were better ways to proceed. The fact that Secretary Paulson did not use the money as he said it would be used validated my concerns. Now, the very banks that received the bulk of the TARP money are still mired in losses, with billions in bad loans still on their books, and refusing to account for how they have spent it. Given TARP’s poor record to this point, we need to reassess this plan of action, and that is why I voted against releasing the remaining funds.”
You are invited to sign up for future electronic newsletters. Please feel free to forward this message to friends and neighbors you think might be interested in this issue.
Sincerely,
Jerry F. Costello
12th District of Illinois
Labels: economy, Jerry Costello
Wednesday, January 14, 2009
Jerry Costello on Digital Switch
On February 17, 2009, over the air television broadcasts will be transmitted only in digital formats. Analog-only televisions (those that use an antenna) will not work on or after that date. Owners of analog-only televisions must do one of three things to ensure that their sets work:
- Buy a TV with a digital tuner.
- Connect to cable, satellite or other pay service.
- Purchase a converter box.
The National Telecommunications and Information Administration (NTIA) is running a converter box program. The NTIA will provide two $40 coupons to help requesting households purchase converter boxes. Applicants must have a U.S. Post Office address and all coupons expire three months after issuance. You can request coupons in one of four ways:
- Call 1.888.DTV.2009 (1.888.388.2009); deaf or hard of hearing callers may dial 1-877-530-2634 (English/TTY) or 1-866-495-1161 (Spanish/TTY). TTY Service is available from 9 AM - 9 PM Eastern Time Monday through Friday.
- Complete or download an application at www.DTV2009.gov
- Mail an application to P.O. Box 2000; Portland, OR 97208-2000
- Fax an application to 1.877.DTV.4ME2 (1.877.388.4632)
As of January 4, 2009, those requesting coupons are being put on a waiting list due to high demand. Congress is working to enact additional funding to make sure all of these requests are met. Please go to the following link for the latest update from the NTIA:
http://www.ntia.doc.gov/press/2009/DTV_WaitList_090105.html.
Why is the transition to digital television necessary? Primarily to reclaim portions of the analog spectrum (broadcast channels 52-69, also known as the 700MHZ band) currently occupied by television broadcasters. Digital television uses radio frequency spectrum more efficiently than analog, making space available for other uses, such as emergency communications.
For more information on this issue, visit
www.dtv.gov or call 1-888-CALL-FCC (1-888-225-5322). For information on the converter box program, visit
www.dtv2009.gov or call 1.888.DTV.2009.
You are invited to sign up for future electronic newsletters. Please feel free to forward this message to friends and neighbors you think might be interested in this issue.
Sincerely,
Jerry F. Costello
12th District of Illinois
Labels: digital, Jerry Costello
Sunday, October 5, 2008
Costello Votes "No" Again
Rep Jerry Costello voted no again on the second version of the bloated bailout bill. Here's his email explaining why:
As I did earlier this week after the vote on a similar bill, I wanted to share with you my statement following the vote on the economic bailout legislation today.
"On Monday, the House of Representatives voted down the first version of this historic legislation. The message that was clearly sent by this defeat was that we needed to slow down and make sure we get this right, because we may only get one chance. However, instead of looking at alternatives, the Senate leadership simply retained the original Paulson approach and added $100 billion in tax breaks. While I support expanding Federal Deposit Insurance Corporation limits to $250,000, I do not see how turning a $700 billion bill into an $800 billion bill benefits our economy.
"Ultimately, what the additions to this bill cannot hide is that at its core, it is no different from the proposal we voted on Monday. It still asks too much from taxpayers and not enough from the financial services industry. The Wall Street bankers that helped get us to this point need to be paying to help right our economy. We can still take a step back and listen to the chorus of voices – from economists to our constituents - calling for a more thorough evaluation of our options. I am still very concerned that we will come to regret the long-term ramifications of this action. After close consideration, I believe the bill before us today is worse than the original legislation, and I again voted no."
Sincerely,
Jerry F. Costello
12th District of Illinois
Labels: Jerry Costello
Monday, September 29, 2008
Rep. Costello Votes NO!
Here's Rep. Costello's reasoning for voting against the bailout
I wanted to share with you the statement I released today following the House vote on the economic bailout bill.
“I voted against this unprecedented bailout because we are moving too quickly to rush this proposal through and have not adequately considered other approaches to solving the problem of bad debt and tight credit. I have not been convinced that it is imperative we act right now, or that this proposal will solve the problem as indicated. In fact, numerous economists insist that the Paulson approach will not work. And I resent being told by the investment bankers in the Bush administration and on Wall Street - the very people that have railed against government oversight in the financial industry for years - that the taxpayers must come to their rescue. What is essential is that Wall Street help pay for any program to heal the economy. $700 billion is too much to ask taxpayers to bear without a requisite sacrifice from the industry that bears much of the responsibility for bringing us to this point. Now that the bill has failed, we should remain calm and proceed to consider other alternatives."
Sincerely,
Jerry F. Costello
12th District of Illinois
Labels: economy, Jerry Costello
Tuesday, September 23, 2008
Rep Costello on Bailout
Rep. Jerry Costello sent out this email regarding his position on the Bush administriaton's proposal to handle the latest Wall Street mess. If you'd like to call Rep. Costello with your two bits, his local number is 529-3791. FWIW, I like
Senator Dodd's proposal, since it provides much more oversight of how the $700 billion would be spend, and called Rep. Costello about it.
I thought you would be interested in seeing the statement I made last Friday, September 19, concerning the proposed legislation to combat the current economic crisis.
“I have participated today in conference calls with Treasury Secretary Paulson, Federal Reserve Chairman Bernanke and my colleagues regarding proposals to create a government entity to purchase the bad debt that continues to damage our capital markets and the overall economy. While I support measures taken to insure money market funds, I will reserve judgment on the proposed legislation until we see the details in the coming days.
“I also agree that we must address the immediate problems first, but we cannot lose sight of the fact that there must be accountability in this process. The American people are outraged and don’t understand why their credit rating takes a substantial hit if one mortgage payment is missed, but the CEO and board of an investment bank or a major corporation can bankrupt the company, affecting the entire economy, and walk away with millions in severance payments. If more taxpayer dollars are to be extended, there should be major reform of executive pay, particularly golden parachutes; stronger oversight of our markets and a thorough Justice Department review of the events of the last several years to see if criminal charges are warranted, as happened to officials at Enron. It seems clear that big business has proven incapable of self-regulation, and we must remember that as we consider this legislation.
“More than anything we need a return to basic common sense. Americans are already facing $2.6 trillion in consumer debt. We need to stop offering an endless supply of credit cards and risky home loans to people who cannot afford them. As we move forward, we need to make sure that the safety net that apparently knows no bounds for Wall Street is extended to the rest of the American people.”
Sincerely,
Jerry F. Costello
12th District of Illinois
Labels: economy, Jerry Costello
# posted by Castle Perilous Games @ 11:55 AM
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Monday, August 18, 2008
Jerry Costello's Office Hours
Rep. Costello is gracing southern Illinois with his presence this Wednesday and Thursday. Info in the email below:
I will hold five Open Office Hours in Southern Illinois. No appointment is necessary. Just stop by one of the locations at the date and time listed to meet with me to discuss your issues.
Wednesday, August 20
Pinckneyville 8:45 a.m. – 9:45 a.m.
Perry County Courthouse
1 Public Square
Anna 2:30 p.m. – 3:30 p.m.
Anna City Hall
103 Market Street
Thursday, August 21
Carbondale 10:30 a.m. – 11:30 a.m.
My Carbondale District Office
Sen. Paul Simon Federal Building
250 West Cherry Street
Marion 2:00 p.m. – 3:00 p.m.
Marion City Hall
1102 Tower Square Plaza
Benton 4:00 p.m. – 5:00 p.m.
Benton City Hall
500 West Main Street
If you have any questions, please call (618) 233-8026.
I look forward to seeing you there.
Sincerely,
Jerry F. Costello
12th District of Illinois
Labels: Jerry Costello
Wednesday, August 6, 2008
Housing Legislation email from Costello
Our local Representative just sent out the following email regarding proposed housing legislation:
I wanted to drop you a note to update you on legislative matters that may be of interest.
The Congress and the Bush administration have approved a major package of housing reforms to restore confidence in the mortgage and financial markets while helping homeowners and communities deal with rising home foreclosures and falling home prices. The bill includes:
- A $7,500 tax credit for first time home buyers.
- Provisions to expand the Federal Housing Administration’s loan limits to increase its market share and promote greater stability in the mortgage market.
- Provisions to better regulate Fannie Mae, Freddie Mac and the Federal Home Loan Bank System.
- $3.92 billion for state and local governments to purchase abandoned and foreclosed homes and residential property to keep neighborhoods from deteriorating and further reducing home values for everyone.
- A voluntary program where the government will back loans that have been written downby 10-15%. If the home owner sells the house within five years, they must reimburse the government for a portion of the sale. Importantly, this should not help speculators as it can only be used for a mortgage on a primary residence.
- The bill will make the implicit federal backing of Fannie Mae and Freddie Mac explicit, providing temporary authority to purchase their stock (expires at end of 2009).
The legislation is the result of over a year of bipartisan negotiations and is backed by a wide range of realtor, civil rights and business organizations. The Congress will monitor the implementation of the bill closely and will continue to examine ways to bolster the U.S. economy during the remainder of the 110th Congress.
You are invited to sign up for future electronic newsletters. Please feel free to forward this message to friends and neighbors you think might be interested in this issue.
Sincerely,
Jerry F. Costello
12th District of Illinois
Labels: housing, Jerry Costello
Tuesday, June 24, 2008
DTV Conversion
Just got this email from Rep. Costello (because you WILL have digital),
As you may know, on February 17, 2009, over the air television broadcasts will be transmitted only in digital formats. Analog-only televisions (those that use an antenna) will not work on or after that date. Owners of analog-only televisions must do one of three things to ensure that their sets work:
· Buy a TV with a digital tuner.
· Connect to cable, satellite or other pay service.
· Purchase a converter box.
The National Telecommunications and Information Administration (NTIA) is running a converter box program. The NTIA will provide two $40 coupons to help requesting households purchase converter boxes. Applicants must have a U.S. Postal Service address and all coupons expire three months after issuance. You can request coupons in one of four ways:
· Call 1.888.DTV.2009 (1.888.388.2009); deaf or hard of hearing callers may dial 1-877-530-2634 (English/TTY) or 1-866-495-1161 (Spanish/TTY). TTY Service is available from 9 AM - 9 PM Eastern Time Monday through Friday.
· Mail an application to P.O. Box 2000; Portland, OR 97208-2000
· Fax an application to 1.877.DTV.4ME2 (1.877.388.4632)
Why is the transition to digital television necessary? Primarily to reclaim portions of the analog spectrum (broadcast channels 52-69, also known as the 700MHZ band) currently occupied by television broadcasters. Digital television uses radio frequency spectrum more efficiently than analog, making space available for other uses, such as emergency communications.
For more information on this issue, visit
www.dtv.gov or call 1-888-CALL-FCC (1-888-225-5322). For information on the converter box program, visit
www.dtv2009.gov or call 1.888.DTV.2009.
Sincerely,
Jerry F. Costello
12th District of Illinois
Labels: Jerry Costello
Friday, January 11, 2008
Email from Jerry Costello
Got this email from Rep. Costello, touting his accomplishments in the past year:
I wanted to drop you a note to update you on legislative issues that may be of interest.
I recently contacted you about legislation that was being considered by Congress before the end of this year’s legislative session but had not yet been finalized. We did finish all three of those bills dealing with energy efficiency, the Alternative Minimum Tax and health insurance for children.
The energy efficiency bill takes important steps to conserve energy, including having auto manufacturers raise gasoline miles-per-gallon standards for the first time since 1975, increasing the use of biofuels such as ethanol to reduce our dependence on foreign oil and setting new energy-efficiency standards for appliances and buildings.
In addition, legislation was also passed to prevent 25 million taxpayers from having to pay the Alternative Minimum Tax. I voted against the final version of this legislation because its cost - $50.6 billion – was not paid for and will further add to our national debt and the burden we are passing on to our children and grandchildren. I voted for two earlier versions of this legislation that were paid for, but those bills were defeated in the Senate.
Congress also passed an extension of the current State Children’s Health Insurance Program through March 2009, ensuring six million children will maintain their health insurance. This bill also cancelled a scheduled 10% cut to doctors’ payments in the Medicare program, which will allow our seniors access to quality medical care.
I look forward to the second session of the 110th Congress and will continue to work hard on behalf of our region.
You are invited to sign up for future electronic newsletters. Please feel free to forward this message to friends and neighbors you think might be interested in these issues.
Sincerely,
Jerry F. Costello
12th District of Illinois
Labels: Jerry Costello
Thursday, August 30, 2007
More Financial Aid for Students
I saw an article about this in the
Economist a couple of weeks ago and have been meaning to post about it. Luckily Congressman Costello saves me the trouble of writing it up: From an email the congressman just sent out:
The average student loan debt for a college graduate is currently around $18,000, and with consistently rising tuition rates, this number is sure to climb, burdening our college graduates with significant debt before they have the opportunity to establish themselves professionally. Such debt greatly affects purchasing power, making a house, a car, a family, and other key ingredients of the American Dream difficult to afford.
In a concerted effort to reduce this burden on our nation’s college graduates, the House of Representatives recently passed the College Cost Reduction Act, H.R. 2669. The bill cuts roughly $19 billion from federal lender subsidies and invests that money in financial aid programs for students, colleges, and universities.
The increases to student aid are quite significant. The bill increases the maximum Pell Grant award $500 over five years to $5,200, and raises the automatic qualification minimum income level to $30,000, thereby making it easier for students to qualify for such grants. An estimated 229,900 Illinois students would receive a Pell Grant increase of $500, while the average Illinois student would save $4,510 over the life of a four-year loan.
The bill also authorizes $500 million for the Perkins Loan Federal Contribution program over the next four fiscal years, and cuts interest rates in half for students with subsidized student loans.
Further, H.R. 2669 provides up to $16,000 in TEACH grants to students who commit to teaching a high-need subject in a high-need school for four years. Complete loan forgiveness is also available for public-sector employees after 10 years of service, and $5,000 in loan forgiveness is available for individuals who serve in critical areas such as law enforcement officers, firefighters, nurses, public defenders, early childhood educators and other public-sector employees.
The College Cost Reduction Act will help reduce the financial burden placed on college students and their families, which in turn will encourage more students to seek higher education. A final version of this bill is being crafted with the Senate and a final vote is expected this fall.
Labels: Congress, financial aid, Jerry Costello, siu, students
# posted by Castle Perilous Games @ 12:56 PM
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