Protecting Our Economy and Restoring Growth to the Job Market
In 2008, our nation was shaken by the worst economic crisis since the Great Depression. The livelihoods of hard-working families in Hawaiʻi and across the country were put at risk; millions of Americans lost their homes, and many saw their life savings wiped out – all because of risky banking practices by “too big to fail” banks. The banks that were ‘too big to fail’ in 2008 are even bigger today. And while our economy has slowly started to come back from this devastating economic crisis, our nation’s economic health remains at risk. We must ensure that no bank is so big that its risky bets can bring down the entire U.S. economy.
Break up the Big Banks and Hold Wall Street Accountable for Their Risky Investments
We must create a banking system that works for every American—not just Wall Street CEOs—and enact and strengthen reforms that will protect our economy from another massive collapse. Tulsi is a cosponsor of legislation such as the Return to Prudent Banking Act (H.R.381) and the 21st Century Glass-Steagall Act (H.R.3711) to help protect Americans from big banks’ roll of the financial dice. To help ensure the financial stability of our nation, Tulsi is continuing to fight against dangerous behavior on Wall Street where investors take big risks on the backs of American taxpayers. She has urged criminal investigations of Wall Street executives who take money from American taxpayers, such as what recently happened with Wells Fargo, the nation’s largest “too big to fail” bank.
Fighting Against TPP, An Unfair Trade Deal That Will Hurt Americans for Decades to Come
Most major trade agreements over the past few decades have directly, negatively affected hard-working families and small businesses in Hawai‘i and across the country. We must learn from the past, and not repeat those same mistakes as we work toward a stronger economic future. Tulsi vigorously fought against the Trans-Pacific Partnership (TPP), a historically massive trade deal accounting for 40 percent of global trade, helping to ultimately defeat it at the end of 2016.
Promoting Economic and Job Growth in Hawai‘i
Our tourism industry is the main driver of Hawai‘i’s economy and creates opportunity for small businesses to grow on every island. Tulsi is continuing to work with federal, state, and county leaders on opening airports for direct international travel, which will help support those local economies. She has also worked to keep air travel taxes and fees as low as possible for people in Hawaiʻi and introduced the Passenger Fee Restructuring Exemptions Act (H.R.1074) to limit the passenger security fee for Hawaiʻi, Alaska and rural areas that rely solely on air travel for basic transportation. As a member of the Congressional Travel and Tourism Caucus, Tulsi is working to diversify the economic drivers and job creators within the state by welcoming new industries, supporting our local film and TV industry, investing in our aging infrastructure, and encouraging innovative entrepreneurs who are working to make Hawaiʻi as a start-up paradise.
The U.S. military presence in Hawaiʻi also plays a critical role in protecting Hawaiʻi and our nation and promoting stability in the Asia-Pacific. The greater regional stability afforded by the presence of our military allows for opportunity and jobs for local people, adding $14.7 billion annually to our state’s economy. In 2016, Tulsi worked to secure $200 million for military infrastructure projects across the country in the annual Military Construction and Veterans Affairs funding bill.
More on Protecting Our Economy and Restoring Growth to the Job Market
Honolulu, HI—Rep. Tulsi Gabbard (HI-02) released the statement below following a joint investigation by The Washington Post and 60 Minutes into the pharmaceutical industry’s role in proliferating the opioid epidemic in the United States:
WASHINGTON – Today, the Hawai‘i Congressional Delegation, announced that the Economic Development Administration (EDA) will award $1.6 million in federal funding to MA‘O Organic Farm in Wai‘anae to fund the construction of a new building to house agricultural produce processing and a farmer training facility. The new facility is expected to create 200 jobs in Hawai‘i.
Washington, DC -- The U.S. House of Representatives today passed Amendment No. 220 to the appropriations package which was introduced by Congresswoman Tulsi Gabbard (HI-02) to provide an additional $1 million to the Native American Community Development Financial Institutions (CDFI). The Amendment will provide additional awards to organizations that make credit, capital, and other essential financial services available to underserved and impoverished Native communities.
Washington, DC—Congresswoman Tulsi Gabbard (HI-02) today voted for H.R. 601, which provides over $15 billion in emergency federal aid to assist the victims of Hurricane Harvey, Hurricane Irma, and other extreme weather events throughout the country. This funding ensures FEMA can provide immediate emergency response and relief as well as longer-term recovery efforts.