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 is vigorously fighting against the Trans-Pacific Partnership (TPP), a historically massive trade deal accounting for 40 percent of global trade. The TPP deal will have many negative ramifications, such as:
- Creating an “ISDS”, which is a secret, extremely powerful legal tribune made up of corporate lawyers that allows foreign corporations to overrule our domestic law. These ISDS courts allow corporations to sue our government, undermining our sovereignty.
- Weakening labor, environmental and human rights protections
- No protection against currency manipulations
- Enriching the corporate class while selling out working Americans and their families
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
Washington, DC—Rep. Tulsi Gabbard (HI-02) released the following statement after the nonpartisan Congressional Budget Office (CBO) released its analysis on the American Health Care Act (AHCA):
Washington, DC—Reps. Tulsi Gabbard (HI-02), Peter Welch (VT-AL), and Tom Garrett (VA-05) hosted a press conference today urging their colleagues to support and pass the bipartisan Stop Arming Terrorists Act (H.R.608). Tima Kurdi, co-founder of the Kurdi Foundation, whose sister-in-law and two nephews drowned while trying to cross to Greece seeking refuge from the Syrian war, also spoke about the need to stop arming rebels in Syria and end the regime change war in Syria that has caused the suffering of the Syrian people.
Washington, DC—Rep. Tulsi Gabbard (HI-02) joined Rep. Rosa DeLauro and fellow lawmakers in reintroducing the Family and Medical Insurance Leave (FAMILY) Act, legislation that would help protect working families and provide paid family and medical leave. Rep. Tulsi Gabbard is an original cosponsor of the bill.
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.