January '10 Nevada Government—U.S. Congresswoman Shelley Berkley Column

Berkley Supports White House Effort
To Recover Tarp Funds To Slash Deficit

*** Renews Call for Limits on Excessive Bonus Payments to Wall Street Fat Cats, Banking Barons ***
January 14, 2010 – Washington, D.C. – Congresswoman Shelley Berkley today expressed support for a new White House proposal to recover an estimated $100 billion in federal TARP funding provided to America’s banks and lending institutions. The funds would be generated by a new fee on financial institutions with assets greater than $50 billion and would be used to reduce the nation’s budget deficit.

“These funds were always meant to come back to the American taxpayer,” said Berkley. “I support efforts to recover outstanding TARP funds so we can use these precious dollars to help address current deficits and to boost our economy.”

Berkley also renewed her call this week for limits on exorbitant bonuses paid to banking industry and Wall Street executives at a time when the nation is still struggling in the aftermath of the global economic crisis.

“Another year, another round of outrageous multi-million dollar bonuses for the fat cats on Wall Street and America’s banking barons. Nevadans are stunned and outraged by the greed and arrogance that accompanies these annual payouts made by industries that literally owe their very existence to America’s taxpayers,” said Berkley. “These executives are blinded by greed to the real hardships inflicted on families in Nevada and across our nation as a result of reckless actions by the financial sector. Before anyone is awarded a bonus, these firms should repay the billions they owe to the American people. And if they refuse to do the right thing—and insist on making these bonus payouts—then they should be forced to make good on their outstanding financial commitments to this nation’s taxpayers.”

Berkley voted in favor of legislation in March 2009 (H.R. 1586) that imposed a 90% tax on bonuses paid after December 31, 2008, by companies that received more than $5 billion in TARP funds. The tax would also apply to bonuses paid by entities affiliated with these companies. The bill passed the House on a vote of 328 – 93. The Senate has yet to act on the bill.

Berkley Statement On Haiti Earthquake Aftermath
And Global Relief Efforts

January 13, 2010 – Washington, D.C. – Congresswoman Shelley Berkley today expressed her sympathies for the people of Haiti and for members of the Haitian-American community in Nevada and nationwide who have lost loved ones in the devastating 7.0 earthquake that struck the island nation.

“My condolences go out to members of the Haitian-American community in Nevada and nationwide who have missing or injured relatives or friends on the island or who have lost loved ones in the earthquake. Today I join in expressing my profound sympathies for the people of Haiti and I pledge my support for relief efforts to aid the victims of this natural disaster,” said Berkley. “Americans support ongoing global relief efforts by the U.S. and other nations and by non-government organizations working around the clock to treat victims and to provide food, water and shelter during this time of crisis. Our hearts and prayers today are with the victims, survivors and all those individuals who are there providing vital aid to the residents of Haiti.”

According to the White House, the Haiti Earthquake Task Force has set up a number to call to relay information concerning American citizens. That number is 1-888-407-4747.

Nevadans wishing to donate to international relief efforts can find guidelines from the Center for International Disaster Information (CIDI) via the Internet at www.cidi.org/guidelines/guide_ln.html.

Berkley Announces $475,000 In Funding
For I-15 Improvements

January 13, 2010 – Washington, D.C. – Congresswoman Shelley Berkley today announced that she has secured $475,000 in federal funding for work on I-15, including widening the interstate between Sloan and Tropicana to improve traffic flow and work on new and existing interchanges. Berkley secured the funding as part of the FY 2009 Transportation Appropriations bill.

“Drivers across the Valley and millions of visitors to Las Vegas rely on I-15 and this funding will enhance safety, decrease congestion and expand the number of lanes along a vital stretch of the Interstate. This project will include new construction, work to enhance existing interchanges and the widening of I-15 from Speedway to the Apex interchange,” said Berkley. “These funds will also be utilized to construct a new bridge over I-15 at Sunset Road and to rebuild the one now in place at Warm Springs.”

Specifically, funding will be utilized to:

Widen I-15 from Sloan to Tropicana Avenue and continue north to the Apex Interchange

Improve operational efficiency, capacity, and safety from Sloan Road to Blue Diamond Road

Reconstruct Sloan Road Interchange

Construct Sunset Road bridge over I-15

Reconstruct Warm Springs Bridge over I-15

Widen I-15 from four to six lanes from Speedway Blvd. to Apex Interchange

Construct new interchange north of Speedway Blvd.

Once completed, the construction will provide additional lanes on I-15 to accommodate additional traffic, reduce operational conflicts at ramps from Blue Diamond to Tropicana Avenue and improve access to areas planned for development in North Las Vegas.

Berkley Outraged At Latest Round Of Sweetheart Bonuses For Wall Street Fat Cats, Banking Barons

*** Seeks Limits on Payouts by Firms Still Owing U.S. Taxpayers ***
January 12, 2010 – Washington, D.C. – Congresswoman Shelley Berkley today renewed her call for limits on exorbitant bonuses paid to banking industry and Wall Street executives at a time when the nation is still struggling in the aftermath of the global economic crisis.

“Another year, another round of outrageous multi-million dollar bonuses for the fat cats on Wall Street and America’s banking barons. Nevadans are stunned and outraged by the greed and arrogance that accompanies these annual payouts made by industries that literally owe their very existence to America’s taxpayers,” said Berkley. “These executives are blinded by greed to the real hardships inflicted on families in Nevada and across our nation as a result of reckless actions by the financial sector. Before anyone is awarded a bonus, these firms should repay the billions they owe to the American people. And if they refuse to do the right thing—and insist on making these bonus payouts—then they should be forced to make good on their outstanding financial commitments to this nation’s taxpayers.”

Berkley voted in favor of legislation in March 2009 (H.R. 1586) that imposed a 90% tax on bonuses paid after December 31, 2008, by companies that received more than $5 billion in TARP funds. The tax would also apply to bonuses paid by entities affiliated with these companies. The bill passed the House on a vote of 328 – 93. The Senate has yet to act on the bill.

The Congresswoman also expressed support for a recent White House proposal to recover a greater portion of the TARP funding provided to America’s banks and lending institutions in order to help address the deficit.

“These funds were always meant to be come back to the American taxpayer,” said Berkley. “I support efforts to recover more than $120 billion in outstanding TARP funds so we can use these precious dollars to help boost our economy, address current deficits and to put the brakes on outrageous executive bonuses.”

Nevada Again Slides In Rankings For Effective Use Of Transportation Stimulus Funds—Now 50th of 51

Ranking Second Worst in Nation; Less than one-third of $200 Million in Transportation Recovery Funds Going to Paychecks under Gibbons Watch
January 12, 2010 – Washington, D.C. – Congresswoman Shelley Berkley and Congresswoman Dina Titus today again called on the Gibbons Administration to explain why Nevada is now ranked 50th out 51 states and the District of Columbia when it comes to the effective use of transportation stimulus funds.

According to the latest figures released by the House Transportation and Infrastructure Committee, Nevada’s current ranking is the second worst in the nation. Since last year, Nevada’s ranking has fallen each month, as other states improve on the percentage of funding that has resulted in jobs created. Nevada was 46th out of 51 in September of last year, but plunged to second worst nationwide as a result of only 30% of available funding being utilized to pay workers on local road and highway projects.

(See complete state-by-state rankings on the utilization of transportation stimulus funding here: transportation.house.gov/Media/file/ARRA/100111%20State%20Ranking%20
November%2030%202009%20--%20Highway.pdf).

“While Governor Gibbons insists nothing is wrong, Nevada has now slipped to 50th place when it comes to utilizing transportation dollars from the stimulus act. Governor Gibbons controls $200 million in stimulus funding for Nevada roads and highways, yet less than one-third of these dollars are now going to provide paychecks—so there is no question we should be doing much better,” said Berkley. “Since August, our ranking has actually grown worse with each passing month. And every time the issue is highlighted, the Governor’s office says it’s making the most of these funds, but clearly no effort has been undertaken to improve this situation. In fact, we have now gone from 46th to 50th out of 51, and at this rate we will be dead last by February. Governor Gibbons should be embarrassed that only 30% of the transportation funding provided to Nevada has been used to create actual jobs on his watch. He needs to rev-up the engine, get this car out of first gear and use these federal dollars now to put Nevadans back to work.”

“With Nevada facing a near record unemployment rate, we must do everything in our power to get people back to work. For months, Nevada’s progress putting Recovery Act funds to use on transportation projects has crawled along while nearly every other state has moved forward with a sense of urgency,” Titus said. “Nevada may be meeting all the deadlines and doing everything by the book, but with a recession that has gripped our state especially hard, just doing enough to meet the minimum requirements won’t cut it for Nevadans looking for work. According to the committee’s report, from September 30 to November 30, the percentage of funds for transportation projects underway remains unchanged. In a state that has had its construction sector decimated by the recession, this poor performance is unacceptable. I urge Governor Gibbons to pick up the pace in an effort to create more jobs with Recovery Act funds.”

$5.9 Million In Stimulus Funding Awarded To Create
New Nevada Solar Manufacturing Jobs

January 8, 2010 – Washington, D.C. – Congresswoman Shelley Berkley today announced that solar cell manufacturer Amonix will receive $5.9 million in federal stimulus funding to create clean energy manufacturing jobs in Nevada. Berkley was notified by the White House about the funding to bring the new solar manufacturing jobs to Nevada this afternoon.

“This funding will be used to create Nevada jobs involved in the manufacturing of highly efficient solar panels that increase the amount of clean energy that can be harnessed from every ray of sunshine. We are working to make Nevada a world leader in the use and production of solar energy and this $5.9 million awarded to Amonix under the Recovery Act will soon mean green job creation right here in the Silver State,” said Berkley, who voted in favor of the Recovery Act.

According to Brian Robertson, CEO of Amonix, “We’re pleased and honored to have received an allocation under the tax credit program. This meaningful federal program will create jobs and have a positive impact upon Nevada and Arizona.”

U.S. based Amonix (www.amonix.com) will use the funds to manufacture low-cost solar electricity systems in Nevada using inexpensive plastic lenses that concentrate sunlight. The systems generate 500 times more solar electric power from small, high efficiency solar cells. The concentrated solar PV company was granted $9.5 million in Recovery Act Advanced Energy Manufacturing Tax Credits for Nevada and Arizona.

The project is being funded through the federal Recovery Act’s Advanced Energy Manufacturing Tax Credit. These stimulus tax credits are focused on creating renewable energy projects, including the manufacturing of solar cells. In addition to the $5.9 million for work in Nevada, Amonix also received $3.6 million for manufacturing work in Arizona.

The investment tax credits, worth up to thirty percent of each planned project, will leverage private capital for a total investment of nearly $7.7 billion in high-tech manufacturing in the United States.