Federal Update: August Recess for Congress

Yesterday marked the first official week of the August congressional recess. After getting stuck in Washington for the first part of last week to deal with the debt ceiling, most members left for their districts mid-week and are engaged in meetings and visits across the region. As our Senators and Members of Congress make their way through communities, look for them at events such as Chamber meetings, community service events and county fairs. If you find yourself at an event with a Member of Congress, please take the time to introduce yourself and your credit union. Our top legislative priority continues to be increasing the small-business lending cap and any opportunity you have to discuss this with your Senators or Representative is very helpful. H.R. 1418 in the House and S. 509 in the Senate would increase the lending cap from the current 12.25% to 27% of assets. Please reiterate that this legislation is a common-sense way of injecting capital into our struggling communities, at no cost to the taxpayers.

As was reported last week in Anthem, the race in Oregon’s CD 1 is heating up since Congressman Wu’s official resignation last Wednesday. As was expected, Republican Rob Cornilles, who faced off with Wu in the 2010 election, announced his candidacy on Thursday. Joining the field of Democratic candidates state Senator Suzanne Bonamici also announced on Thursday. Brad Avakian, state labor commissioner and state Representative Bill Witt are the other two declared Democrats in the race. We will look for and keep you posted about opportunities to meet these candidates in the near future and will share information about the candidates’ views on credit union issues as those surface.

Questions? Contact a member of the Association’s Legislative Affairs team:
Jennifer Wagner, Director of Legislative Advocacy
Mark Minickiello, Vice President, Legislative Affairs
Stacy Augustine, Senior Vice President & General Counsel

Posted in Federal.