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—Over 4,100 Hawaiʻi residents participated in Congresswoman Tulsi Gabbard’s (HI-02) tax-focused “telephone townhall” on Tuesday December 5. Local and national nonpartisan guests included:
Washington, DC—Rep. Tulsi Gabbard (HI-02) released the following statement after the House voted to move to a conference committee to resolve the differences between the House and Senate versions of the Republicans’ tax reform legislation.
Congresswoman Tulsi Gabbard said:
"In the years leading up to the 2008 financial crisis, American families were deceived, swindled, and cheated by Wall Street and the big banks. These banks that were ‘too big to fail’ then, are even bigger today. Since its founding, the Consumer Financial Protection Bureau (CFPB) has worked to inform, empower, and do right by American consumers, protect their hard-earned salaries, and return nearly $12 billion to 29 million American consumers.
"Small non-farm businesses in Kauai are eligible for low‑interest federal disaster loans from the Small Business Administration up to $2 million to offset economic losses caused by the past drought in Kauai County. bit.ly/2iueWd5" - TG
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"Small businesses are the heart of our economy and communities, in Hawaii they make up over 99% of businesses and employ nearly 270,000 people.