News From Congressman Vic Snyder

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Recent News on Capitol Hill

Last week the House approved the Fraud Enforcement and Recovery Act of 2009 to help law enforcement pursue and prosecute mortgage and corporate fraud that impacted millions of Americans and contributed to our financial downturn. In addition, this bill has a provision to start an investigation commission like the Pecora commission, the investigation that examined the causes of the Stock Market Crash of 1929.

-To read more in detail about this bill, go to link
http://thomas.loc.gov/cgi-bin/bdquery/z?d111:S386:/

The House also passed the Mortgage Reform and Anti-Predatory Lending Act of 2009. This bill works to curb abusive and predatory lending-a major factor in our nation's current home foreclosure rate. The bill outlaws some of the flagrant industry practices that led to the subprime lending crash, and it sets up preventative measures to keep borrowers from deliberately misstating their income to qualify for a loan.

-To read more in detail about this bill, go to link
http://thomas.loc.gov/cgi-bin/bdquery/z?d111:HR1728:/

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Recent News from my Committees

I attended a House Armed Services committee (HASC) hearing on US nuclear strategic posture and counter-proliferation goals. Dr. James R. Schlesinger and Dr. William J. Perry, two former Department of Defense (DOD) Secretaries testified. The hearing showed that any decisions that we make about our nuclear weapons inventory and infrastructure should be influenced by our larger strategic interests (such as non proliferation) and keeping weapons out of the hands of terrorists.

-To view this hearing go to HASC link:
Video Webcast
Part 2

Continuing to explore the Department of Defense Acquisition process, the House Armed Services committee also received testimony from Deputy Secretary of Defense, William Lynn. As the Deputy Secretary of Defense, Lynn is the DOD's Chief Management Officer. We heard his recommendations for acquisition reform to better streamline the process and curtail wasteful spending in the Defense budget.

-To view the hearing go to HASC link:
Video Webcast

The HASC also held a hearing to debate the amendments in HR 2101, a bill aimed at overhauling Pentagon acquisition practices. As a co-sponsor of this bill, I am pleased that we came to a bi-partisan agreement about what the language of the bill will be when it is presented to the House of Representatives this week.

-To view the hearing go to HASC link:
Video Webcast

The House Committee on Veterans' Affairs held a hearing to debate the amendments for five bills that would improve benefits and services to veterans provided by the Department of Veterans Affairs. Caring for veterans is an ongoing cost of war and the measures considered will help our veterans.

-To read more about this bill, H.R. 23, go to link
-To read more about this bill, H.R. 1088, go to link
-To read more about this bill, H.R. 1089, go to link
-To read more about this bill, H.R. 1170, go to link
The bills will next be considered by the House of Representatives.

As you may know I am a member of the Joint Economic Committee (JEC), a bi-cameral (Senate and House combined) committee. Last week at a JEC hearing, we heard testimony from the Federal Reserve Chairman, Ben Bernanke. He emphasized that the economic downturn is slowing and noted he anticipates growth later this year. In my line of questioning, I asked about Cuba. Exports to Cuba could put a lot of money into the U.S. economy and I inquired about trading more with Cuba. I also asked about the fundamentals of the economy. Bernanke explained that the growth rate is the key to the fundamentals of the economy; he said the U.S. wants sustained growth, not contracted growth because over a period of years it greatly impacts working people’s standard of living, especially when they retire. Bernanke explained further that this is why we have to emphasize education, energy security, and efficient healthcare.

-To view this hearing, go to the JEC link

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Recent News from the District

Last week we announced the winner of the annual Congressional Art Competition for the Second District. Alyssa Grady of Vilonia High School in Faulkner County is the winner of the 2009 Second District Congressional Art Competition. Her grand prize winning entry is a piece entitled, "True Love". Sandy Ragland is Miss Grady’s art teacher at Vilonia High School.

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Other News

The VA is taking applications for the Post 911 GI Bill.
The Website is: http://www.gibill.va.gov/.
The GI Bill Hotline is: 1-888-GIBILL-1.

Featured Photo

On Friday, May 9th, U.S. Representative Snyder announced the 2009 Congressional Art Competition Winner, Alyssa Grady from Vilonia High School in Faulkner County. Her winning entry will be displayed in the U.S. Capitol in Washington, D.C. She will receive free airline travel courtesy of Southwest Airlines to attend a Washington D.C. reception on Wednesday, June 24, 2009, as well as complimentary custom framing from Work of Art. Pictured from left to right are Gwen Talley from Southwest Airlines, Alyssa Grady, Congressman Snyder, and Terry Dennis from Work of Art framing.

View the Congressman's Photo Gallery.