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.
Raise the Minimum Wage
In Hawaiʻi and across the country, far too many people are working one or two full-time minimum wage jobs, living in poverty, and barely scraping by. The federal minimum wage has fallen far behind inflation and has actually lost value over time, meaning working families are making less while paying more just to make ends meet. Rep. Tulsi Gabbard is an original cosponsor of the Raise the Wage Act, which would raise the minimum wage to $15 an hour by 2024 and index the minimum wage to the median wage growth thereafter. The federal minimum wage has stagnated for the last 10 years, and it is long overdue for Congress to do the right thing for hard-working Americans and raise the minimum wage.
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 and the 21st Century Glass-Steagall Act 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.
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 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.
More on Protecting Our Economy and Restoring Growth to the Job Market
Washington, DC—Rep. Tulsi Gabbard (HI-02) joined 26 Members of Congress in introducing the Return to Prudent Banking Act today. The bipartisan legislation, endorsed by Public Citizen and the AFL-CIO, would reinstate important consumer protections put in place after the Great Depression and require separation between commercial and investment banking.
Washington, DC—Today, Reps. Tulsi Gabbard (HI-02) and Paul Cook (CA-08) introduced the HIRE Vets Act of 2017. This bipartisan bill, which was previously introduced last Congress, passed the House with unanimous support in November 2016, but did not pass the Senate before the end of the year.
Washington, DC—Today, Congresswoman Tulsi Gabbard (HI-02) voted against H.R.6392, legislation that puts the economic security of millions of Americans at risk. The bill would undermine capital requirements put in place on large banks after the 2008 financial crisis, and water down the independent authority of the Federal Reserve to regulate large bank risk. The bill passed the House today by a vote of 254-161.
Washington, DC—Congresswoman Tulsi Gabbard (HI-02) and Congressman Don Young (AK-AL) introduced a bipartisan resolution today recognizing #GivingTuesday, a global day of charitable giving and volunteerism. #GivingTuesday, the first Tuesday after Thanksgiving, begins the holiday season in the spirit of service, following widely-recognized shopping events like Black Friday and Cyber Monday. The resolution recognizes that philanthropy and charitable giving transcend party divides and unite people across boundaries.
Washington, DC—The HIRE Vets Act (H.R.3286), introduced by Reps. Tulsi Gabbard (HI-02) and Paul Cook (CA-08), unanimously passed the House today. This bipartisan bill would promote private sector recruiting, hiring, and retaining of men and women who served honorably in the U.S. military through a voluntary and effective program. Specifically, it would create a medallion program recognizing the meaningful, verifiable efforts undertaken by employers – both large and small – to hire and retain veterans. This bill will now move to the Senate.