The Reid Report

The housing crisis has hit our state harder than any other in the nation.  Even among homeowners who don’t face foreclosure, many find themselves owing more than the house is worth. Beyond just affecting homeowners, this crisis is at the root of our larger economic challenges. The situation is very serious and Nevada’s homeowners, workers and businesses are desperate for help.

That is why I have worked hard over the past several weeks to ensure that Nevadans can begin to see light at the end of this tunnel. On Monday, I wrote a letter to the Chairman of the Senate Budget Committee requesting that a reserve fund be created in the budget to provide assistance to struggling homeowners. I am proud to announce today that we succeeded in inserting this provision into the budget we consider next week. This fund gives struggling homeowners more leverage in their efforts to seek loan modifications with lenders and expands eligibility to those with substantial negative equity. The economy won’t be able to rebound until we fix the housing crisis, and I believe this program will help us do just that.

The other major factor in economic recovery is preserving and creating jobs. I am working in many ways, large and small, to promote jobs in Nevada. Congress enacted a major recovery package to help preserve and grow jobs, while making critical investments in America's future. I have been making calls over the past several weeks, along with Senator Ensign, to the heads of major banks encouraging them to give the MGM City Center Project a fair shake. MGM is Nevada’s biggest employer and taxpayer and its City Center project, which will be the biggest LEED-certified project in the world, is the largest project in our state. This is an extraordinary situation. 10,000 Nevadans are currently working on City Center, which will, directly and indirectly, create 50,000 jobs in Nevada in the future. Our state has more than 10% unemployment and I am fighting for every job out there.

The Economic Recovery bill that we passed earlier this year will create 34,000 jobs in Nevada, but businesses have had a tough time figuring out how to access that money. I created a Guide for Nevadans so that our state gets its fair share.

Thanks for reading this update. I know Nevada’s families and businesses are struggling, but I’m fighting for them every day. If you would like to read more about these plans, please visit my website or the links below.

HARRY REID
United States Senator for Nevada

Recommended Reading:

Reid: Stimulus Funds to Help Housing, Create Jobs in Nevada
Reid Stands up for Nevada’s Struggling Homeowners
Reid Works to Help Nevadans Take Advantage of Economic Recovery Funds
Economic Recovery Plan

Public Lands Bill Becomes Law

Nevada Senator Harry Reid attended a ceremony at the White House where President Barack Obama signed the Omnibus Public Land Act of 2009. Through Reid’s leadership, the U.S. Senate passed this important lands bill that includes a number of beneficial projects for our state.

“I took great pleasure in watching President Obama sign this legislation that is so important to Nevada into law,” said Reid. “From strengthening economic development to helping people suffering from cancer, the bill the president signed today will help communities across the state.”

Following is a list of Nevada projects:

Projects benefitting Southern Nevada:

·       The Nevada Cancer Institute Expansion Act will provide 80 acres of land to the Nevada Cancer Institute. The non-profit Nevada Cancer Institute will use the parcel to build a facility devoted to developing new treatments for Nevadans afflicted with cancer.
·       The Orchard Detention Basin Flood Control Act releases a small section of the Sunrise Mountain Instant Study Area to allow for construction of a flood control project that will help protect nearly 5,000 homes, schools and businesses in nearby neighborhoods. The bill also helps expedite the remediation of the Sunrise Landfill.
·       The Southern Nevada Limited Transition Area Act conveys land near the Henderson airport from the Bureau of Land Management to the City of Henderson for the development of a new economic hub and urban green spaces.
·       The Cold War Historical Sites Study Act requires the Department of the Interior to evaluate sites and resources for commemorating and interpreting the Cold War, including the Mt. Charleston Plane Crash Memorial.
 
Projects benefitting Northern Nevada:

·       The Reno ReTRAC Act removes restrictions on land owned by the City of Reno in and around the downtown railroad corridor.  It will allow for new development on up to 120 acres in Reno’s urban core.
·       The Carson City Vital Community Act increases open space opportunities in Carson City and helps the city pursue its smart growth plans.  The bill includes a land exchange between the city and the Forest Service, giving each entity land that is more suited to its mission and management abilities.  The legislation also conveys the Silver Saddle Ranch and Prison Hill to Carson City for continued public use, with a conservation easement retained by the Bureau of Land Management.  The Carson City land bill is the 4th in a series of county land bills that the Nevada congressional delegation has passed in recent years.
·       The Aging Water Infrastructure and Maintenance Act was introduced by Sen. Reid following the devastating Fernley flood. This bill provides resources and direction to the Bureau of Reclamation to inspect and maintain aging water facilities owned by the federal government. Under this bill, extraordinary repairs can be paid for over 50 years instead of the current one year and emergency maintenance repairs are eligible for funding from Reclamation.  Reclamation is authorized to develop inspection guidelines for aging water facilities to help ensure they do not fall into disrepair.
·       The Shoshone-Paiute Tribes of Duck Valley Reservation Water Settlements Act ratifies a water rights settlement agreement between the tribal governments, the State of Nevada and individual rights holders along the East fork of the Owyhee River and settle the Tribes’ claims against the United States for failing to protect its water rights and natural resources.

Reid Statement On President Obama’s Auto Industry Plan

Nevada Senator Harry Reid made the following statement today after President Obama outlined his plan to stabilize America’s struggling auto industry and help it recover:
 
“The Administration’s decision to send GM and Chrysler back to the drawing board was driven by three critical and commendable goals: protecting taxpayers’ investment, moving America more quickly toward energy independence, and ensuring these two companies and the American auto industry as a whole can survive and as many workers as possible can keep their jobs.
 
“I share the President’s commitment to these objectives, and commend his Administration for showing a firm resolve in its negotiations with GM and Chrysler.  We will not give these companies a blank check.  As we have maintained since the earliest days of this crisis, if these companies do not develop strong plans to remain viable in the long term, they will lose our support.

“Restructuring the auto industry will inevitably entail difficult decisions for the Administration and the companies in question – and indeed some that might be painful in the short term – but I remain confident that these goals are not only essential to pursue, but that they will be achieved.”

Reid Statement On Implementation Of Making Work Pay Tax Credit

Nevada Senator Harry Reid made the following statement on the Making Work Pay tax credit, which goes into effect tomorrow, Wednesday, April 1. The tax credit was part of the American Recovery and Reinvestment Act that the Senate passed President Obama signed into law in February:

“We are already seeing a return on many of the investments in the Economic Recovery Package.  Tomorrow, we will add another to that list when the Making Work Pay tax credit goes into effect.
 
“Working Americans will get a credit of $400, and working families will get $800.  To some, that might not seem like a lot of money.  But to those in places like Elko, Nev., it could mean being able to afford the medicine they need to stay healthy, buying a few more bags of groceries for their family, or getting new school supplies for their kids.

“Making Work Pay allows Americans to keep more of their paychecks at a time when they need it the most.  It’s an important first step in the right direction, but we need to do more.  That is why our budget cuts taxes for the middle class and ends the Bush tax giveaways to multimillionaires.  It is why we are expanding the child tax credit and the earned income tax credit for larger families.  And why, with a tuition tax credit, we are making it easier for families to send their children to college.  We are also working to make permanent the sales tax deduction for residents in states like mine.
 
“For eight years, Bush Republicans put multimillionaires and big business first.  We believe it’s time someone stands up and fights for the middle class in this country.”