I joked with Senator Ensign yesterday morning that there hasn’t been much news out of the Senate this week because there hasn’t been any controversy. In fact, both sides have been working together on important legislation that will help countless Nevadans. This week, we passed a bill that will help Nevada’s homeowners and renters. We also notched a lasting victory in the fight to end Yucca Mountain, as President Obama made good on his campaign pledge.
 
I also took a few minutes on Tuesday morning to talk with Matt Lauer on the Today Show. Please click below to watch the video:

The Housing Bill we passed addresses one of Nevada’s most pressing problems. The legislation provides incentives for banks to work with homeowners to modify existing mortgages and gives HUD the resources to help vulnerable homeowners. I hear from Nevadans every day who are struggling with their mortgage payments, underemployed and trying to raise a family. It doesn’t have to be this way, and I am working to provide hope for the countless Nevadans in this terrible situation. To learn more, click HERE.
 
This week, Nevada scored another major victory in the fight against Yucca Mountain. As promised, President Obama cut funding for the nuclear dump to its lowest level in the project’s history and officially announced the project’s termination. This means there is absolutely no way the dump will be built in Nevada. Instead, a Federal Blue Ribbon Commission will consider other, safer options. I have been working to terminate this project since I first came to Washington, and I want to thank all of the Nevadans who joined me in the fight against Yucca Mountain.

Reid: Credit Card Reform Will Protect American Consumers, Put Fairness And Common Sense Back Into System

Nevada Senator Harry Reid made the following statement on the floor of the U.S. Senate on the Credit Card Accountability, Responsibility and Disclosure Act.  Below are his remarks as prepared for delivery:

“What do you do when you play by the rules, but the rules change in the middle of the game?
 
“There is a woman in Nevada named Shelley.  Like millions of Americans, she pays her credit card bill in full every month.  She has never been late.  She is the model of what credit card companies call ‘in good standing.’
 
“But Shelley recently was told that the interest rate on her card was going from 9.5 percent to 17.5 percent.  Her rate was almost doubling, for reasons unknown to her.  Understandably, Shelley asked to close the account.  But the bank told her that the time to opt out of her contract had ended, before she even knew it had started.
 
“Shelley played by the rules, but the rules changed in the middle of the game.  If we are to truly get our economy back on its feet, we must protect people like Shelley and the millions of Americans who use credit cards for everything from buying a pack of gum to paying for college.
 
“Chairman Dodd and Ranking Member Shelby have drafted a bill that puts fairness and common sense back into credit cards.  It protects consumers from excessive fees, ever-changing interest rates and complex contracts seemingly designed to do one thing above all – to keep people in the dark and in debt.
 
“In short, this bill cleans up the fine print so consumers can’t get blind-sided by their credit card companies.
 
“More and more Americans sign up for and use credit cards every day.  Three in five credit card users carry a balance on their card – and that balance averages more than $7,000.
 
“But they are using credit cards that have misleading terms and confusing conditions.  A recent study by the Pew Charitable Trusts found that 100 percent of credit cards came with policies that the Federal Reserve has determined cause substantial harm to consumers.  That’s 100 percent.
 
“And 93 percent of those contracts said the credit card company could raise the interest rate at any time, for any reason.
 
“Here are just a few of the things the responsible legislation that will come before the Senate today does to fix that:
 
·       First, it protects consumers by establishing fair and sensible rules for how and when credit card companies can raise interest rates.  Card companies must give 45 days’ notice before increasing rates, and can no longer do so on existing balances.
·       Second, it cracks down on abusive fees.  For example, consumers no longer will have to pay a fee just to pay a bill.  And credit card companies must mail statements 21 days before the bill is due, so cardholders can avoid hefty late fees.
·       Third, it protects consumers by making credit card statements understandable and protects college students from predatory marketers.
·       And it strengthens oversight of the credit card industry to keep it in line.
 
“For every greedy executive and devious con artist, there are millions of honest, hardworking Americans who struggle every day to make ends meet.  They worry every morning about how much longer their job will be there, and every night about how to keep their families healthy and keep a roof over their heads.  They worry about troubles they did not create, but which they alone cannot cure.
 
“Too many hardworking Americans have already lost too much in this recession.  It is our job to protect them from losing even more.
 
“This bill will not only level the playing field and keep the rules consistent from beginning to end – it can also save families thousands of dollars a year.
 
“Shelley, the Nevada woman who told me about her frustrations with her credit card company, wrote: ‘I feel like I am being robbed by a company that my tax dollars are trying to bail out.’
 
“We must protect those who play by the rules because it’s not just their credit at stake – it’s our country’s credibility.”

Reid Meets With Nevada’s Top Cops

Nevada Senator Harry Reid met with three police officers from the Las Vegas Metropolitan Police Department who received honorable mention in the Top Cops awards given out by the National Association of Police Organizations (NAPO).  NAPO created the Top Cops Awards to pay tribute to outstanding law enforcement officers across the country for actions above and beyond the call of duty.

Below are Reid’s remarks as prepared for delivery on the floor of the United States Senate.

“I first came to Washington as a law student with a young family.  We didn’t have much.  So to support my wife and baby daughter, when I wasn’t sleeping or studying I was serving as a United States Capitol policeman.

“I worked full-time, in uniform, in this very Capitol complex from 3 every afternoon to 11 every night.  My time was mostly spent helping tourists find their way around or directing traffic on Constitution and Independence Avenues.

“Mr. President it’s safe to say I never did anything so brave as the police officers we honor this week, National Police Week.

“Every year for decades now, police officers and their families have come to Washington to honor those who have risked their lives and remember those who gave their lives.

“Three of those fearless officers we recognize this year serve in the Las Vegas Metropolitan Police Department.  And this morning they are with us here in the Capitol.

“Last June, Officer Blake Penny was following an armed suspect when the suspect’s car flipped end-over-end and landed on its side.  When Officer Penny went up to the car to check on the passengers, the suspect suddenly appeared and shot him in the right leg, just above the knee.

“It was then that Officer Penny’s fellow patrolmen – Sergeant Steve Custer and Officer Christian Jackson – heard those four frightening words over their radio: “Shots fired, officer down.”  They raced to the scene.

“In the meantime, even though he was unable to walk, Officer Penny courageously continued to exchange fire with the suspect.

“When Sergeant Custer and Officer Jackson got there, they threw themselves into the line of fire to administer First Aid to Officer Penny and pull him into their patrol car.  Officer Jackson drove his wounded partner to the hospital, and Sergeant Custer – a police officer for 36 years – stayed on the scene until back-up arrived.

“This week the National Association of Police Organizations is honoring these brave officers with the Top Cops award, a tribute given to just a select few of the countless men and women who each year go above and beyond the call of duty.

‘But today it is we who are honored to have them with us.  To Officer Blake Penny and his wife, Marcia; Sergeant Steve Custer and his wife, Marcela; and Officer Christian Jackson and his wife, Barbara – Nevadans and Americans everywhere thank you for your service and your sacrifice.  We are fortunate to have you to protecting us.”