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Press Release: LULAC Urges House of Representatives To Follow Senate Lead And Pass Economic Recovery Package. October 2, 2008 For more information contact: Washington, DC –The League of United Latin American Citizens supports the Senate’s economic recovery package which was approved Wednesday by a vote of 74-25. “Even if the plan is not perfect, it is necessary for the economy to move forward in a positive direction,” said LULAC National President Rosa Rosales. “Now that the Senate has approved the economic plan we hope the House of Representatives take up this legislation and include provisions which will provide relief to working families and homeowners at risk of foreclosure. We need to restore the stability of our financial system to ensure that families are not put at further risk and to put our economy on the road to recovery.” LULAC encourages the House of Representatives to ensure that the final package protects homeowners and working families who have borne the brunt of our economic crisis. We encourage our Representatives to include Congressman Baca’s legislation—HR 4135, the Family Foreclosure Rescue Corporation, in the final package to ensure homeowners at risk of foreclosure receive assistance. LULAC joined other national civil rights organizations, the Mexican American Legal Defense and Educational Fund (MALDEF), National Council of La Raza (NCLR), National Association for the Advancement of Colored People (NAACP), Asian American Justice Center (AAJC) and other Asian Pacific American and African American communities in a letter to leadership in the United States House of Representatives and Senate. The letter calls upon Congress to assist homeowners during the current economic crisis. Our organizations want to ensure that the final package includes a systematic approach to enable families to modify loans purchased by the federal government; improvements to our nation’s bankruptcy laws to allow for courts to modify loans; and a moratorium on foreclosures while a rescue plan to takes place. The bill could face a vote as early as Friday in the House of Representatives, where lawmakers rejected an earlier version on Monday. Many of the victims of subprime prime lending scheme have been single women, seniors on fixed incomes, young couples, Latinos and African-Americans. The League of United Latin American Citizens advances the economic condition, educational attainment, political influence, health and civil rights of Hispanic Americans through community-based programs operating at more than 700 LULAC councils nationwide. ### |