Economic Security

Following the news that members of the Senate Banking Committee have reached an agreement on legislation to reauthorize the Terrorism Risk Insurance Act (TRIA), Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, applauded their progress and lamented the lack of action in the House of Representatives. Waters has been outspoken in her support for a TRIA's renewal, and led a panel discussion on its importance of the program earlier this year. The legislation was announced today by Senators Chuck Schumer, Mike Johanns, Dean Heller and Mark Kirk.

At today's press conference to discuss, among other issues, the need for action to reauthorize the Export-Import Bank, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, underscored the importance of a quick renewal of the Bank's charter to create and sustain American jobs.

Congresswoman Maxine Waters (CA-43), Ranking Member of the Financial Services Committee, released the following statement today on Equal Pay Day which symbolizes when, more than three months into the year, women's wages finally catch up to what men were paid in the previous year. According to U.S. Census Data, American women still earn only 77 cents to every dollar made by a full-time working man.

Today, Government Sponsored Enterprise (GSE) Fannie Mae announced it has earned a fourth quarter profit of $6.5 billion in 2013 and will repay $7.2 billion to the U.S. Department of the Treasury in March. The payment will mean the company has returned $121.1 billion back to the taxpayers –returning even more than the $116.1 billion it received after being taken over by the government in 2008. This comes following a similar announcement by Freddie Mac late last year.

In today's Financial Services Committee hearing on "Why Debt Matters," Ranking Member Maxine Waters (D-CA), underscored the importance of promoting growth and reducing income inequality through short-term increases in discretionary fiscal stimulus in order to reduce the nation's debt and deficit.

Congresswoman Maxine Waters (CA-43) joined her Democratic colleagues in signing a discharge petition to extend unemployment insurance. This special congressional procedure allows a majority of members to bypass Speaker Boehner and force an up or down vote on the Emergency Unemployment Compensation Extension Act (H.R. 3546). This bill would extend emergency unemployment insurance for nearly 5 million Americans looking for work through the end of the year.

As the House of Representatives stood poised to approve legislation to increase the government's borrowing authority, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, urged passage of the measure. Waters underscored the importance of the "clean" debt ceiling increase as critical to avoiding economic catastrophe. She also pointed out that once again, the Democratic party had to supply the votes necessary to protect the nation's well-being.