New Dems Release Report on American Prosperity Agenda

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Washington, DC, March 21, 2016 | comments

New Dems Release Report on American Prosperity Agenda

Includes Four Bills Introduced by Rep. Perlmutter

This week, the New Democrat Coalition - of which U.S. Rep. Ed Perlmutter (CO-07) is a member - released a report detailing efforts of its members to advance the tenets laid out in the Coalition’s American Prosperity Agenda. The Prosperity Agenda, originally released in March 2015, outlines 24 principles the group supports to grow the economy, preserve the American Dream, and make government work better. The report follows up on the original agenda detailing 200 bills, letters, and other projects that members of the New Dems have worked to advance in the 114th Congress.

“Whether it’s helping small businesses, establishing commonsense regulations, or promoting research and development in new technologies, the New Dem Coalition is focused on innovative and bipartisan ideas and policies to make the U.S. competitive and successful in a 21st century global economy,” said Rep. Perlmutter.

Rep. Perlmutter’s efforts are highlighted in the report and include the following:

· Introduced the Traditional Banking Regulatory Relief Act (H.R. 4647) which would base the application of certain banking regulations on complexity and relevant activities, rather than arbitrary asset thresholds. This bill would support the multitude of community banks and similar institutions that do not engage in risky activities or pose a systemic threat to the economy but focus primarily on taking deposits and making loans to local customers. Qualified banks would be eligible for relief from significant costs, including certain stress-testing requirements, Basel III Risk-Based Capital Standards, and submitting certain call report schedules. (February 2016)

· Sponsored the Tenant Income Verification Relief Act (H.R. 233) to allow tenants on a fixed income to have their incomes certified once every three years rather than annually. The legislation would help streamline and reduce the burdens placed on tenants for purposes of determining their eligibility for certain federal assistance housing programs, especially for seniors and others who consistently maintain a fixed income. The bill itself passed the House in March 2015 and the text was included in the bipartisan transportation bill that became law in December 2015.

· Led members in a letter to Speaker Boehner urging action on a long term surface transportation bill with a permanent funding solution for the Highway Trust Fund. The letter highlighted the need to invest in critical infrastructure projects and end the reliance on shortsighted, irresponsible funding mechanisms for roads and bridges in dire need of repair. (July 2015)

· Sponsored legislation to provide a number of tools to spur and accelerate the transfer of new technologies developed at the Department of Energy’s (DOE) national laboratories to the private sector. Specifically, the Department of Energy Laboratory Modernization and Technology Transfer Act (H.R. 1158) would help promote innovation and economic growth by expanding the number of companies eligible to participate in technology transfers. The bill would also enable labs to use technology transfer funds for activities that identify and demonstrate potential commercial opportunities for their research and technologies. (May 2015)

· Re-introduced Marijuana Businesses Access to Banking Act (H.R. 2076) to remove current legal uncertainty by providing a "safe harbor" and additional civil protections for depository institutions that provide a "financial product or service" to marijuana-related legitimate business. Currently, marijuana businesses operating legitimately under state laws have largely been denied access to the banking system and other sources of credit because federal law could sanction or shut down these financial institutions. This bill would help solve that problem, and provide a safer, more stable way for businesses to operate. (April 2015)

The New Democrat Coalition is made up of 52 democratic, pro-growth, innovation-focused lawmakers committed to seeking pragmatic solutions to help hard working Americans compete in the increasingly globalized economy and make sure our families and communities are secure from threats around the world.

Rep. Perlmutter has been a member of the New Democrat Coalition since 2007 and currently chairs the New Dem Energy Taskforce.

To see the full Prosperity Agenda Report, click here.

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