July '09 Nevada Government - Dina Titus column

Nevada a Leader on Renewable Energy

Congresswoman Dina Titus of Nevada’s Third District voted in support of H.R. 2452, the American Clean Energy and Security Act, which makes historic investments to create a clean energy economy that will generate jobs and reduce the nation’s dependence on foreign oil.

“For less than the equivalent of one stamp a day, our efforts today will spur job creation in clean energy technology and put our nation on a path to energy independence,” Congresswoman Titus said. “This legislation makes important investments in renewable energy that can help create jobs right here in Nevada and take advantage of our abundant natural resources. We have seen the devastating effects of rising gas prices and what happens when we are subject to the whims of OPEC. This bill would help reduce our dependence on oil from the Middle East and put us on the path to a clean energy economy.”

Key provisions in the American Clean Energy and Security Act include: requiring electric utilities to meet 20 percent of their electricity demand through renewable energy sources by 2020; investing in energy efficiency and renewable energy, electric and other advanced technology vehicles, and basic scientific research and development; and protecting consumers from energy price increases.

Congresswoman Titus joined Representatives Gabrielle Giffords of Arizona and Martin Heinrich of New Mexico to offer an amendment to the bill. Their provision will open the door to government investments in cleaner, more sustainable and ultimately more cost beneficial technologies by extending the limit for contract for the acquisition of electricity generated from a renewable energy resource to 20 years from 10.

“There is a lot of pent up demand for investing in clean energy,” Titus added. “Companies are just waiting for us to write the rules before they jump in and invest and this bill will give them the information and certainty they need to begin investing money in clean energy projects that will create jobs.”

The legislation, which meets PAYGO requirements and is estimated by the Congressional Budget Office to reduce the deficit by $9 billion, has received broad support from industry and environment groups alike. The bill is supported by a coalition that includes electric utilities, oil companies, car companies, chemical companies, major manufacturers, environmental organizations, and labor organizations.

House Energy Bill Will Create Jobs and Make Nevada a Leader on Renewable Energy

Titus Amendment Will Create Clean Energy Jobs and Promote Deployment of Renewable Energy

Congresswoman Dina Titus of Nevada’s Third District spoke today on the House floor on an amendment she offered with Representatives Gabrielle Giffords of Arizona and Martin Heinrich of New Mexico. The amendment was included as a provision in the Manager’s amendment. Below are her remarks as delivered.

“I rise today in strong support of the Titus-Giffords-Heinrich amendment, which the Manager’s amendment incorporates into the American Clean Energy and Security Act.

“Our amendment will create clean energy jobs, promote deployment of renewable energy technology, and put the federal government in the position to lead by example.

“Our amendment extends the limit for the federal government to 20 years on a contract for the acquisition of electricity generated from a renewable energy resource – often referred to as a power purchase agreement. This provision will encourage wide-scale deployment of renewable energy technology at federal buildings, BLM land, and superfund sites. Additionally, it will allow agencies to plan for more sustainable and affordable energy use over an extended period of time. This small change will open the door to government investments in cleaner, more sustainable and ultimately more cost-beneficial energy technologies.

“Our amendment also establishes a Renewable Electricity Standard for federal agencies. This RES will ensure that the federal government meets 20 percent of its electricity demand through renewable energy by 2020. It will drive demand for new clean energy technologies and help create new clean energy jobs. Indeed, we will be leading by example.

“I’m proud to have joined with my fellow members of the Sustainable Energy and Environment Coalition, chaired by Jay Inslee and Steve Israel, on this provision. I would like to thank Chairman Waxman for his assistance with this important amendment.”

Titus Urges Geithner to Expand Housing Programs to Help Those in Hardest Hit Areas

Congresswoman Dina Titus of Nevada’s Third District sent the following letter to Treasury Secretary Timothy Geithner today urging the Administration to raise the loan to value requirement in the Making Home Affordable Program. Titus also highlighted the depth of the foreclosure crisis in Southern Nevada and encouraged the Secretary to take this into account as he reviews the Administration’s housing programs.

Below is the text of the letter and attached is the earlier letter she sent to Director Lockhart.

June 30, 2009

The Honorable Timothy Geithner

Secretary

Department of the Treasury

1500 Pennsylvania Avenue, NW

Washington, D.C. 20220

Dear Secretary Geithner,

I have enclosed a letter that I recently wrote to James Lockhart, Director of the Federal Housing Finance Agency, as well as the response that I received from Peter Brerenton, Associated Director for External Relations of the Federal Housing Finance Agency, regarding raising the Loan to Value (LTV) in the “Making Home Affordable” Program.

As was noted in the response to my letter, the FHFA is working with the Treasury Department as well as Fannie Mae and Freddie Mack on this issue. I am writing to urge you to raise the limit for inclusion in the Making Home Affordable Refinance Program (HARP). As you know, in order to qualify for this program, one’s LTV must not be more than 105%. However, it is estimated that almost 70% of homeowners in Las Vegas are underwater, and because home prices have fallen almost 50% in the last three years, many homeowners have LTV’s greater than 105%.

As I noted in my letter to Mr. Lockhart, many people who purchased a home in the last few years have found that, due to no fault of their own, they are in negative equity. They do not want to walk away from their mortgages but have serious concerns about the actual value of their homes. By enabling more families to refinance their current mortgage, we will not only allow them to stay in their homes, we will take an important step toward ending the current housing crisis. I respectfully request that you work to raise this threshold as quickly as possible.

I was pleased to learn that President Obama has asked you to undertake a top to bottom review of the housing crisis and the programs that have be instituted. I urge you to consider the situation in Las Vegas, as well as other communities that have been similarly affected by the housing crisis, in your review. While I am hopeful that the “Making Home Affordable” program will help many Americans, I do not believe that it will be as effective in areas that have been hardest hit by the crisis. Therefore, I respectfully request that you consider expanding the Administration’s housing programs or create a new program to help those homeowners in areas that have been affected most dramatically by this crisis.

I believe that this is an important change that will help many of my constituents remain in their homes, prevent foreclosures, and move our country through this housing crisis. I look forward to hearing your response.

Sincerely,

Dina Titus

Member of Congress

Titus Announces New Programs to Make College More Affordable that Take Effect Today

Congresswoman Dina Titus of Nevada’s Third District and a member of the House Education and Labor Committee highlighted new benefits that take effect today, July 1, which will make student loans more affordable for our nation’s young people. Under the Income-Based Repayment program, borrowers can cap their monthly loan payments based on how much income they earn. This, combined with an increase in the maximum Pell Grant and lower interest rates on need-based student loans, will make higher education more affordable and accessible for Nevada’s young people.

“A quality higher education for our nation’s young people is critical to their individual ability to compete in a global economy and thus to the future of our nation,” Congresswoman Titus said. “The implementation of this new program, along with other steps Congress has taken to lower the cost of a college education, will help our students gain the skills and knowledge they need to become the next generation of leaders.”

“By capping student loan payments during these tough economic times and lowering interest rates on student loans, we will ensure that our students have the opportunity to reach for their dreams rather than face a mountain of debt,” Titus added.

On July 1, interest rates on subsidized federal student loans will decrease from 6 percent to 5.6 percent. This is the second of four annual cuts to these rates, and it will continue to drop until it reaches 3.4 percent in 2011. Under the Income-Based Repayment program, borrowers’ monthly loan payments can be capped at 15 percent of their discretionary income. With funding through the College Cost Reduction and Access Act and the American Recovery and Reinvestment Act, the maximum Pell Grant for the 2009-2010 school year will increase by more than $600 to $5,350.