Congressional Black Caucus gets Obama to Cough Up Money for Black Unemployment
From this link:
By boycotting a key House committee vote last week and threatening to abandon support for banking regulations, members of the Congressional Black Caucus got $4 billion added to a Wall Street regulation bill and $2 billion to a proposed House jobs bill in spending they sought for African-American communities.
House Financial Services Committee Chairman Barney Frank (D-Mass.) this week inserted $3 billion to the legislation to provide low-interest loans to unemployed homeowners in danger of foreclosure. He added $1 billion for neighborhood revitalization programs.
The money would come out of the $700 billion financial rescue fund.
“For those of us who walked out, it was absolutely essential that we have parts of that legislation directed toward helping people who have been left out of all of these bailouts,” Rep. Emanuel Cleaver (D-Mo.), one of 10 black caucus members in the Financial Services Committee, said.
With 40 members in the House, the Congressional Black Caucus can be a potent force.
“Since last September, we have continuously voted for bailout and reform for the very institutions that created this devastation, without properly protecting the African-American community or small business,” Rep. Maxine Waters (D-Calif.), said on the day of the boycott. “That stops today.”
Among the caucus’ demands were greater assistance for minority-owned auto dealerships and banks that lend in African-American communities and more government advertising in minority-owned media.
Black lawmakers who have largely held their tongues during President Barack Obama’s first year in office are stepping up their demands that the nation’s first black president do more for minority communities hit hardest by the recession.
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