Reports To The Valley - June 2009
Sherman worked to pass President Obama’s Economic Stimulus Bill and help revitalize our economy. Our web page BradSherman.house.gov provides practical information about how the bill affects Valley families. Here are a few highlights.
- Tax Credit for Working Families. $400 for singles; $800 per couple. For both 2009 and again for 2010. Already, your employer should be deducting less from your paycheck.
- Recovery Payments for Retired Seniors and Disabled Veterans.
- Relief from the AMT (Alternative Minimum Tax).
- Tax Credit for First Time Home Buyers, should help stabilize Valley home values.
- Help with Home Financing. Conforming Loan Limit Increased to $729,750 for 2009 for high-cost areas including the Valley. (Sherman is now working to make this increase permanent.)
- Tax Credit for Purchase of New Car.
- Help for College Students and Their Families. $2,500 Tax Credit to cover college costs. Pell Grants Increased.
- Help for Those Who Have Lost Their Jobs During the Economic Crisis. Help in continuing your health coverage (COBRA). Extended Unemployment Benefits.
Congressman Sherman wants to make sure that Valley families get the benefits they are entitled to under the bill. For details about the provisions described above, call us at (818) 501-9200 or visit our web page BradSherman.house.gov.
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Congressman Sherman has been working for years to protect credit cardholders. He cosponsored the Credit Cardholders’ Bill of Rights Act, which President Obama signed into law last month. The Credit Cardholders’ Bill of Rights will ban retroactive interest rate hikes on existing balances, double-cycle billing, and due date gimmicks.
The bill also protects cardholders against arbitrary interest rate increases, and requires the card companies to allocate payments to pay-off the debt that bears the highest interest rate first. The bill prevents the companies from issuing a credit card to someone under age 21, unless the person has their own ability to pay, or has parental consent. Congressman Sherman worked successfully to include a provision in the bill to require credit card companies to tell cardholders how long it will take them to pay-off their credit card balance, and how much interest they will pay, if they make only the minimum monthly payment.
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Since going to Congress in 1997, Sherman has secured over $26 million to acquire parkland in the Santa Monica Mountains National Recreation Area and to improve the Sepulveda Basin Recreation Area. Last month, Sherman welcomed the completion of the Bull Creek Restoration Project located in the Sepulveda Basin, for which he secured $2.5 million.
Congressman Brad Sherman has earned a 100 percent lifetime rating from the Sierra Club for his voting record in Congress. Sherman has worked consistently to strengthen clean air and clean water regulations and to protect and improve our national parks.
Sherman is fighting for improved carbon emission standards in order to secure clean energy jobs, reduce our dependence on imported oil, and address global warming. Earlier this year, Sherman introduced legislation to allow California to impose fuel economy standards that were tougher than those imposed by the federal government. Recently, President Obama endorsed this approach and announced a historic national policy that will improve fuel economy for all new cars and trucks sold in the United States.
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