Hillary Clinton Announces New Middle Class Tax Cut

On Tuesday, Hillary Clinton announced a new plan that will expand tax relief to families with young children. The plan is outlined in the following release from Hillary for America:

As part of her plan to build an economy that works for everyone, not just those at the top, Hillary Clinton is announcing today a new expansion of the Child Tax Credit for families with young children. She will double the Child Tax Credit to a maximum of $2,000 per child up to and including age 4, and she’ll expand access to millions more families. As many as 15 million young children will be eligible for the credit of up to $2,000 – and millions more people will benefit from additional relief. And this is only a down payment on further relief for middle-class families.

“Hard-working, middle-class families are struggling with rising costs for child care, health care, caregiving and college,” said Clinton. “This new tax credit will make their lives a little bit easier and help restore fairness to our economy.”

Clinton has previously announced middle class tax relief in the form of an up-to-$5,000 credit for families with excessive out of pocket health costs, and up to $1,200 for families caring for parents and grandparents.

Specifically, Clinton is announcing today that she will:

• Double the Child Tax Credit from $1,000 to $2,000 for each young child. Right now, the Child Tax Credit gives millions of families up to $1,000 per child each year to help cover all the burdens they face. Clinton will double the maximum credit to $2,000 for each young child up to and including age 4.
• Expand Child Tax Credit refundability so millions more working families get additional relief. Under our current system millions of families do not qualify for the full credit or get very little benefit because they simply do not make enough money, since the tax code excludes the first $3,000 in earnings in determining whether a working family is eligible for refundable relief. Clinton will lower the threshold for refundability from $3,000 to the first dollar of earnings for families with children of all ages, so every working family can benefit. And she will increase the phase-in rate to 45% from 15% for families with young children. According to the nonpartisan Urban Institute, the credit is structured so that families at the low end of the income distribution do not receive the full credit, and those families that are left out are more likely to be African-American and Latino. Improving refundability and increasing the phase-in rate will help close this gap and increase the overall fairness in the system.
• Provide further tax relief for middle-class families, including those without children, and with older children: Clinton believes we should go further than doubling the Child Tax Credit for young children. The expansion Clinton is calling for today is a down payment on her overall vision for tax relief for middle-class families. Clinton believes we should further expand the Child Tax Credit for families with older children, and expand refundable relief for low-income workers without children.

Clinton’s plan will be fully paid for by her proposals to ensure the wealthy, Wall Street, and big corporations pay their fair share. And like the current Child Tax Credit, it will phase out for higher-income families.

Refundable tax credits like the Child Tax Credit reward work, lift families out of poverty, and improve lifelong outcomes for kids. Studies have shown that the Child Tax Credit helps lift millions of Americans out of poverty each year. Not only does the Child Tax Credit help fight poverty for families in the year that they qualify for the tax cut, its effects can be seen for many years later. Parents in families that receive refundable credits like the Child Tax Credit are more likely to be in the labor force and contribute to the economy. Children in those families do better in school, are more likely to go to college and earn more when they become adults.

Clinton’s proposals to expand relief for hard-working families with children stand in strong contrast to Donald Trump’s plans. Because Trump’s child care and maternity leave plan gives far more to high-income families than middle-class families struggling with costs, and his tax plan rolls back dependent exemptions and other relief for parents with children, it would actually raise taxes on 8 million middle-class families to fund his tax cuts for the rich and multinational corporations, and $4 billion for his own family.

Specifically, hard-working families that get tax relief under Clinton’s plan would see tax increases, or a much smaller tax cut, under Trump:

• A single parent earning $75,000 per year, with two young children, and $8,000 in childcare costs would see a $1,640 tax increase under Trump, and $2,000 in tax relief under Clinton’s plan. A recent academic analysis found that compared to current law, Trump’s plan would raise taxes on this family by $1,640, because it eliminates personal exemptions and the head-of-household filing status. Clinton’s expansion of the Child Tax Credit would give them an extra $2,000 in tax relief.

According to the same analysis, a married couple earning $50,000 per year, with two young children, and $8,000 in childcare costs would get a $93 tax cut under Trump’s plan, and $2,000 in tax relief under Clinton’s plan.

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News Source: The Wall Street Journal

Hillary Clinton Statement on Hurricane Matthew Aftermath

As the Southeast addresses the aftermath of Hurricane Matthew, which killed at least 26 Americans and caused damage in Florida, Georgia, South Carolina, North Carolina, and Virginia, Hillary Clinton issued the following statement:

“In times of crisis, Americans come together to support each other. That’s what we need to do now, as North Carolina continues to grapple with dangerous floods, widespread power outages persist, and communities from Florida to Virginia begin to pick up the pieces.

My thoughts and prayers are with the friends and families of Hurricane Matthew’s victims. The federal government should do everything it can to help states and communities respond to the storm and build back better to withstand future disasters. Those who can afford to can help families in need by donating to the Florida Disaster Fund and to Team Rubicon, a veterans’ service organization specializing in disaster response.

As we rebuild and remember those who were lost, we must also address the humanitarian crisis unfolding in Haiti, where it’s reported that Hurricane Matthew killed more than a thousand people. I encourage everyone who can to give what they are able to Unicef’s Haiti relief efforts here.”

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HFA Statement on Latest Analysis of Trump’s Tax Plan

In response to new reports on the Hillary Clinton and Donald Trump tax plans from the Tax Policy Center, Hillary for America Senior Policy Advisor Jacob Leibenluft released the following statement:

“This report is further evidence of the clear choice for voters in this election. According to an independent analysis, Hillary Clinton’s plan would provide middle-class tax relief and pay for investments in good-paying jobs by requiring the wealthy, Wall Street and large corporations to pay their fair share. Donald Trump’s plan is the most extreme form of trickle-down economics: adding more than $20 trillion to the debt over the next two decades by providing massive giveaways to the richest Americans. In fact, the report shows Trump will give as much tax relief to the top 1% as everyone else combined – even as he raises taxes on millions of working families with children. And what’s more, the Tax Policy Center has exposed a lie Trump told at Sunday night’s debate: while Clinton would close the carried interest loophole that allows Wall Street money managers to pay a lower rate than many middle-class families, Trump’s plan would actually make that loophole even worse.”

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HFA’s Response to Trump’s Latest Misleading Ad

On Monday, Hillary for America Deputy Communications Director Christina Reynolds released the following in response to Donald Trump’s latest campaign ad.

“Donald Trump’s reckless approach to business has devastated working families and communities. He will do and say whatever is in his interest, even if it means swindling working families to make millions for himself. Now Trump is promising the same reckless, self-centered approach to running the country’s economy – with large tax breaks for the wealthy, and a plan that independent experts say would cost millions of jobs. Hillary Clinton is the only candidate who will work to build an economy that works for everyone, not just those at the top, and has a plan that would create jobs, grow incomes and help small business and the middle class. No misleading ad can change that fact.”

V/O: In Hillary Clinton’s America, the middle class gets crushed SUPER: middle class CRUSHED “America’s Shrinking Middle Class: A Close Look at Changes Within Metropolitan Areas,” Pew Research Center, 5/11/16	CLINTON’S PLAN WOULD MAKE THE ECONOMY WORK FOR EVERYONE, NOT JUST THOSE AT THE TOP Hillary for America Fact Sheet: Stronger Together: Hillary Clinton’s Plan for An Economy That Works for Everyone, Not Just Those at the Top [Hillary for America Fact Sheet, 6/22/16] Hillary Clinton is running for President to build an economy that works for everyone, not just those at the top. And she is setting five big goals to get there: 1  Break Through Washington Gridlock to Make the Boldest Investment in Good-Paying Jobs Since World War II 2  Make Debt Free College Available to All Americans 3  Rewrite the Rules to Ensure That Workers Share in the Profits They Help Create 4  Ensure That Those at the Top Pay Their Fair Share 5  Put Families First by Matching Our Policies to How Families Live, Learn, and Work in the 21st Century Economy INDEPENDENT ANALYSIS FOUND LOW- AND MIDDLE- INCOME HOUSEHOLDS WOULD BENEFIT MOST FROM CLINTON’S PROPOSALS Moody’s: “Those Who Would Benefit Most From Secretary Clinton’s Economic Proposals Would Be Low- And Middle-Income Households.” “Those who would benefit most from Secretary Clinton’s economic proposals would be low- and middle-income households.” [The Macroeconomic Consequences of Secretary Clinton’s Economic Policies, Moody’s Analytics, July 2016] RESEARCH CITED BY TRUMP CAMPAIGN DOES NOT MENTION CLINTON “America’s Shrinking Middle Class: A Close Look at Changes Within Metropolitan Areas,” Pew Research Center, 5/11/16
V/O Spending goes up SUPER: spending goes UP “Analyzing Clinton’s Health and Education Expenses,” CRFB, 7/27/16 “Estimating the Costs of Candidate Clinton’s Proposals,” American Action Forum, 6/4/16	CLINTON’S PLANS WOULD NOT ADD TO THE NATIONAL DEBT Wall Street Journal: Study Sees Debt Jumping Under Trump, Staying Steady Under Clinton [Wall Street, Journal, 6/26/16] Study: Clinton’s proposals would not significantly increase national debt [The Hill, 5/2/16] Budget group: Debt jumps under Donald Trump, remains steady under Hillary Clinton [CBS News, 6/27/16]
V/O: Taxes go up SUPER: Taxes go UP “Estimating the Costs of Candidate Clinton’s Proposals,” American Action Forum, 6/4/16	CLINTON WOULD NOT INCREASE TAXES ON FAMILIES WITH INCOMES LESS THAN $250,000 Politifact Gave A “Pants On Fire” To Donald Trump’s Claim That “Hillary Clinton Wants To Raise Taxes On The Middle Class.” [Politifact, 8/5/16] Research Cited By Trump Campaign Notes That Clinton Would Not Raise Taxes On Incomes Less Than $250,000 Tax Foundation: “Consistent With The Clinton Campaign’s Pledge Not To Raise Taxes On Households Earning Less Than $250,000, We Assumed That The New Schedule For Long-Term Gains…” “Consistent with the Clinton campaign’s pledge not to raise taxes on households earning less than $250,000, we assumed that the new schedule for long-term gains only would apply to the top marginal tax rate of 20 percent.” [“Details and Analysis of Hillary Clinton’s Tax Proposals,” Tax Foundation, 1/26/16]
V/O: Hundreds of thousands of jobs disappear. It’s more of the same but worse. SUPER: Clinton’s Tax Plan: hundreds of thousands of jobs disappear “Details and Analysis of Hillary Clinton’s Tax Proposals,” Tax Foundation, 1/26/16	MOODY’S FOUND THAT UNDER CLINTON’S PROPOSALS, THE ECONOMY WOULD CREATE 10 MILLION JOBS Moody’s: “During Her Presidency, The Economy Would Create 10.4 Million Jobs, 3.2 Million More Than Under Current Law.” “Employment also receives a lift under the secretary’s plan. During her presidency, the economy would create 10.4 million jobs, 3.2 million more than under current law. Unemployment is also lower, with the unemployment rate falling as low as 3.7% in the middle of her term, and ending her presidency in 2020 at 4.4%. Under current law, the unemployment rate hovers just below 5% between now and the end of the decade.” [The Macroeconomic Consequences of Secretary Clinton’s Economic Policies, Moody’s Analytics, July 2016] Moody’s: Clinton’s Economic Proposals Will Results In A “Stronger U.S. Economy With Increased GDP And More Jobs” That “Will Mostly Benefit Middle- And Lower-Income Households.” “Even allowing for some variability in the accuracy of the economic modeling and underlying assumptions that drive our analysis, four basic conclusions regarding the impact of Secretary Clinton’s economic proposals can be reached: 1) They will result in a somewhat stronger U.S. economy with increased GDP and more jobs; 2) they will mostly benefit middle- and lower-income households; 3) they have little impact on the nation’s fiscal situation, as they result in somewhat larger deficits but a mostly unchanged debt-to-GDP ratio; and 4) they exhibit faith in the ability of government policy to positively influence economic behavior.” [The Macroeconomic Consequences of Secretary Clinton’s Economic Policies, Moody’s Analytics, July 2016]
V/O: In Donald Trump’s America, working families get tax relief SUPER: Families Get Tax Relief “A Pro-Growth Tax Code for All Americans,” GOP: A Better Way, 6/24/16	TRUMP’S TAX PLAN WOULD DO LITTLE TO NOTHING FOR THE MIDDLE CLASS, WHILE GIVING PEOPLE LIKE HIM A HUGE TAX BREAK HEADLINE: “Economists: Trump Tax Plan Offers Almost Nothing For The Middle Class.” [Washington Post, 8/8/16] Center On Budget And Policy Priorities: Trump’s Proposed 15% Tax Rate On Pass-Through Income “Would Be An Expensive Tax Cut That Would Flow Primarily To The Wealthiest Americans.” “A central element of Donald Trump’s tax plan, which he’s expected to discuss in a high-profile speech in Detroit today, is a special 15 percent tax rate on business income claimed on individual tax returns, known as ‘pass-through’ income.  Mr. Trump says it’s designed to help small businesses, which he contends shouldn’t pay a higher tax rate than large corporations.  Mr. Trump, who has proposed a 15 percent corporate tax rate, proposes a pass-through rate of 15 percent as well. The Trump pass-through proposal would be an expensive tax cut that would flow primarily to the wealthiest Americans.  That’s because more than two-thirds of pass-through business income flows to the highest-income 1 percent of tax filers.” [Center On Budget And Policy Priorities, 8/8/16] Trump’s Financial Disclosure Revealed He Had Holdings In More Than 200 Pass-Through Entities, Which Would See Their Tax Rate Dramatically Reduced Under His Plan. “A little-noticed provision in Donald Trump’s tax reform plan has the potential to deliver a large tax cut to companies in the Republican presidential nominee’s vast business empire, experts say. Trump’s plan would dramatically reduce taxes on what is known in tax circles as ‘pass-through’ entities, which do not pay corporate income taxes, but whose owners are taxed at individual rates on their share of profits. Those entities are the most common structure for small businesses and increasingly popular for larger ones as well. They are also a cornerstone of the Trump Organization. On his 2015 presidential financial disclosure report, Trump listed holdings of more than 200 limited liability corporations, which is a form of pass-through.” [Washington Post, 8/10/16] TRUMP DIDN’T EVEN CITE HIS OWN TAX PLAN IN HIS AD HEADLINE: “Trump Ad Credits Tax Plan He Doesn’t Support” [NBC News, 8/29/16] Donald Trump’s New Ad Cites Two Contradictory Tax Plans — One That Trump Has Explicitly Ruled Out and Another That He Has Yet To Endorse. “Donald Trump’s new $10 million TV ad cites two contradictory tax plans — one that Trump has explicitly ruled out and another that he has yet to endorse — raising more questions about what policies the GOP presidential nominee supports. […] For the ad’s claim that ‘working families get tax relief,’ it refers viewers not to an analysis of Trump’s own tax proposals, but to a white paper by House GOP leaders about their own tax reform plan. […] Trump has not endorsed the House GOP plan outright, but his new proposal, announced earlier this month, has some similarities. […] Things get even more confusing as the commercial continues. The ad’s next two claims that Trump would make ‘wages go up’ and ‘small businesses thrive’ refer to his old tax plan from last year, which had drastically different rates, including a 0% bracket at the bottom and a top rate of 25%. The on-screen citation directs viewers to a Tax Foundation analysis of that now-defunct proposal from September 2015. Trump erased his old plan from his website shortly before he announced his new one in a speech to the Detroit Economic Club earlier this month.” [NBC News, 8/29/16]
V/O: Millions of New Jobs Created Millions of new jobs Details and Analysis of the 2016 House Republican Tax Reform Plan,” Tax Foundation, 7/5/16	TRUMP’S ECONOMIC POLICIES WOULD REDUCE EMPLOYMENT BY NEARLY 3.5 MILLION JOBS A Moody’s Analytics Report On Trump’s Economic Proposals On Taxes, Trade, Immigration And Spending Found That Trump’s Policies Could Sharply Reduce Economic Output And Reduce Employment By Nearly 3.5 Million Jobs During His First Term. “A new analysis concludes Donald Trump’s economic proposals, taken at face value, could produce a prolonged recession and heavy job losses that would fall hardest on low- and middle-income workers. The Moody’s Analytics report, which a person close to the Trump campaign strongly disputed, is the first that attempts to quantify the cumulative economic benefits and costs of Mr. Trump’s proposals on taxes, trade, immigration and spending. It determines that full adoption of those policies would sharply reduce economic output during his first term and reduce employment by 3.5 million jobs.” [Wall Street Journal, 6/20/15]
V/O: Wages go up SUPER: Wages go up “Details and Analysis of Donald Trump’s Tax Plan,” Tax Foundation, 9/29/15	TRUMP THINKS AMERICAN WAGES ARE ALREADY “TOO HIGH” Trump Opposed Raising The Minimum Wage Because: “Wages Too High, We’re Not Going To Be Able To Compete Against The World.” Trump said he wouldn’t raise the minimum wage, and the reason is that America ‘is a country that is being beaten on every front.’ The problem, he said: ‘Taxes too high, wages too high, we’re not going to be able to compete against the world. I hate to say it, but we have to leave it the way it is. People have to go out, they have to work really hard, and they have to get into that upper stratum.’” [The Week, 11/10/15; Republican Primary Debate, Milwaukee WI, 11/10/15] Trump: “We Have To Become Competitive With The World.  Our Taxes Are Too High, Our Wages Are Too High.  Everything Is Too High.” TRUMP: “But you know what? We have to become competitive with the world.  Our taxes are too high, our wages are too high.  Everything is too high.” [Morning Joe, MSNBC, 11/11/15; The Hill, 11/11/15] TRUMP: “HAVING A LOW MINIMUM WAGE IS NOT A BAD THING FOR THIS COUNTRY” Trump: “But I Think Having A Low Minimum Wage Is Not A Bad Thing For This Country.” TRUMP: “Now — I want to create jobs so that you don’t have to worry about the minimum wage.  They’re do a great job that they’re making much more than the minimum wage.  But I think having a low minimum wage is not a bad thing for this country, Mika.” [Morning Joe, MSNBC, 8/20/15; Washington Times; 8/20/15]
V/O: Small businesses thrive SUPER: Small businesses thrive “Details and Analysis of Donald Trump’s Tax Plan,” Tax Foundation, 9/29/15 V/O: The American dream achievable. Change that makes America great again. Donald Trump for President. SUPER: MAKE AMERICA GREAT AGAIN!	TRUMP’S POLICIES WOULD DRIVE AMERICA INTO A RECESSION Moody’s Concluded That Trump’s Trade And Immigration Policies Would Sharply Boost The Prices Of Labor And Goods And Could Contribute To A Recession In 2018. “The report singles out trade and immigration policies as the most detrimental to the economy in the short run because they could sharply boost labor and goods prices at a time when there’s less slack in the labor market. ‘It is a massive supply shock to the economy that’s very pernicious, and the Fed doesn’t know how to respond to that,’ said Mr. Zandi. Moody’s concludes that those price pressures would force the central bank to raise interest rates at a faster-than-desired pace, contributing to a recession in 2018 that could produce a 25% drop in the S&P 500.” [Wall Street Journal, 6/20/15] HEADLINE: “Donald Trump’s Trade War Could Kill Millions Of U.S. Jobs” [Wonkblog, Washington Post, 3/25/16] HEADLINE: “How Donald Trump Could Cause A Recession” [CNN Money, 3/3/16] The Republican-Leaning U.S. Chamber Of Commerce Argued That Trump’s Proposed Tariffs Would Likely Cause A Recession. “The U.S. Chamber of Commerce is using a recent analysis commissioned by The Washington Post to argue that Donald Trump’s trade policy platform could cause a recession. The business group, which is a consistent backer of Republican politicians, said in a blog post Friday that a recession would set in during the first year under the Republican front-runner’s proposed tariffs because China and Mexico would likely impose retaliatory tariffs.” [Politico, 4/1/16]

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Hillary Clinton Announces Plan to Boost Small Businesses

On Tuesday, Hillary Clinton announced a plan she would introduce as president to boost small businesses. She introduced her plan in an article for LinkedIn followed by a teleconference with members of the press and several small business owners. Clinton warned of Donald Trump’s past business practices with small businesses arguing that a Trump presidency would not be good for small business owners. The comprehensive plan builds on her overall economic plan which would create millions of jobs by investing in infrastructure upgrades and clean energy. Small businesses play into her overall plan as they will provide American workers and products. An outline of the plan is below and the full plan is available on The Briefing.

1. Make it easier to start a business and become profitable
   • Push states to make it faster and cheaper to start a business
   • Working with states to standardize licensing requirements
   • Making technical assistance and resources available to states
   • Provide incubators, mentoring, and training to 50,000 entrepreneurs and small business owners in underserved communities
2. Make it easier to get financing and find investors
   • Streamline regulation and cut red tape for community banks and credit unions
   • Harness the potential of online lending platforms
   • Reduce the burden of student debt by allowing entrepreneurs to defer student loan payment
   • Promote the 100% tax exclusion on capital gains for long-term small business investments
   • Expand and streamline the SBA’s Small Business Investment Company program
   • Support new innovative ways to assess creditworthiness for small business owners
   • Expand access to credit in underserved communities
   • Give the SBA administrator the authority to continue providing 7(a) loan guarantees to small businesses
   • Expand access to working capital by expanding the SBA’s working capital guarantee programs
3. Make it cheaper and faster to file taxes and pay for tax relief
   • Work to create a new standard deduction for small businesses
   • Allow 4 million small businesses with gross receipts under $1 million to take advantage of “checkbook accounting”
   • Allow small businesses to immediately expense up to $1 million in new investments
   • Quadruple the start-up tax deduction to significantly lower the cost of starting a business
4. Make it easier to offer health care and other benefits to employees
   • Simplify and expand the healthcare tax credit
   • Allow more small businesses pool together to offer retirement plans
5. Make it easier to work with the federal government
   • Work to completely revamp the digital experience for small businesses
   • Use the leverage of more than $400 billion in federal government contracting to encourage businesses to pay their suppliers in full and on time
   • Guarantee a 24-hour response time to small businesses with questions about federal regulations and access to capital programs
   • Ensure that Small Business Development Centers are placed in the highest-need communities with staff that speaks the language of local residents
   • Work to ensure that federal regulations aren’t unnecessarily holding small businesses and our economy back
   • Increase federal contracting opportunities for women-owned, minority-owned, and veteran-owned small businesses
   • Defend and strengthen the Export-Import Bank
   • Encourage small business exports by expanding SBA funding for export development
6. Make it easier to fight back when you’re getting stiffed

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News Source: LinkedIn, The Briefing, Bloomberg, Forbes

Hillary Clinton Statement on Passage of Puerto Rico Debt Bill

On Wednesday, Congress passed a debt relief plan for Puerto Rico which has begun defaulting on its debts. The bill has been sent to President Barack Obama for his signature. The bill includes a number of provisions including the creation of an oversight committee. Hillary Clinton released a statement in which she expressed her concern over the creation and appointments to the committee. She vowed to continue working with Puerto Rico if elected president, and promised to work to bring more benefits to the territory. A copy of Clinton’s statement is below:

“Puerto Rico’s continuing economic crisis has caused real suffering for the people of the island.  The bill the Senate passed today is the best chance we have of averting a fiscal crisis on July 1. The bill is by no means perfect, and I continue to have serious concerns about some of the provisions it contains. That’s why, as this bill is implemented, I will continue to stand with the people of Puerto Rico to ensure that the oversight board created by this legislation is made up of members who will act in the best interest of Puerto Ricans, and protect their health care, pensions, wages, and well-being. And it is past time that we put the interests of American citizens ahead of hedge fund profits—which is why I will fight with the people of Puerto Rico to put the island’s economy back on a stable and prosperous path, including by ensuring Puerto Rico is treated equitably under federal law.”

En español:

“La continua crisis económica de Puerto Rico ha causado gran sufrimiento en los puertorriqueños. El proyecto de ley aprobado hoy por el Senado es la mejor opción que tenemos en este momento para evitar una crisis fiscal el 1ro de julio. El proyecto no es para nada perfecto y continúo teniendo serias preocupaciones sobre algunas de las provisiones. Es por eso que a medida que la ley se implemente yo continuaré estando del lado del pueblo de Puerto Rico. Quiero asegurarme que la junta de supervisión creada por esta legislación esté compuesta por miembros que actúen trabajando por el mejor interés de los puertorriqueños, protegiendo su sistema de salud, sus pensiones, sus salarios y su bienestar. Desde hace tiempo deberíamos haber puesto los intereses de ciudadanos estadounidenses por encima de las ganancias de los gestores de fondos. Es por eso que lucharé junto con el pueblo de Puerto Rico para poner la economía de la Isla de vuelta en un camino de estabilidad y prosperidad, incluyendo asegurarnos de que Puerto Rico sea tratado con igualdad bajo la ley federal.”

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News Source: The Wall Street Journal

Hillary Clinton Releases Statement on Proposed House Bill for Puerto Rican Debt Relief

Today, Hillary Clinton released a statement cautiously supporting a bill introduced in House of Representatives that would provide debt relief for Puerto Rico. The plan would introduce a federal oversight board to help Puerto Rico through the process of restructuring its $72 billion debt. In her statement, Clinton expressed her concern about a number of the bill’s key provisions, but said that it was a step forward in helping the Puerto Rican government deal with its debt crisis. Clinton’s statement is below:

“The House Natural Resources Committee reached an agreement on a bipartisan bill to address the Puerto Rican debt crisis. While I have serious concerns about several provisions in this bill, including the creation of an oversight board that would exert substantial control over Puerto Rico, I believe that we must move forward with this legislation. Otherwise, without any means of addressing this crisis, too many Puerto Ricans will continue to suffer. However, as this bill moves forward, I will work to ensure that concerns about the oversight board are addressed and any such entity includes members that will act in the best interest of Puerto Ricans — protecting their health, their pensions, and their well-being. We can no longer sit idly by while hedge funds seek to maximize their profits at the island’s expense. That’s why I will continue to stand with the Puerto Ricans to ensure that they can put their economy back on a path of stability and prosperity, including the steps I am committed to take as President to provide equality in critical federal programs.”

En español:

“Ayer, el Comité de Recursos Naturales de la Cámara de Representantes llegó a un acuerdo sobre un proyecto de ley bipartidista para enfrentar la crisis de deuda de Puerto Rico. Aunque tengo algunas dudas sobre varias secciones de este proyecto de ley, incluyendo la creación de una junta de supervisión que ejerce control sobre Puerto Rico, creo que es un paso adelante, aunque debemos seguir trabajando en esta legislación. De lo contrario, y sin ningún medio para hacerle frente a esta crisis, muchos puertorriqueños seguirán sufriendo. Sin embargo, a medida que este proyecto de ley continúe su proceso en el Congreso, voy a trabajar para asegurarme de que las preocupaciones por la junta de supervisión sean atendidas y que cualquier entidad que sea instituida debe incluir a miembros que actuarán en el mejor interés de nuestros cociudadanos en Puerto Rico. Los cuales deben de proteger la salud pública, las pensiones y el bienestar de todos. Ya no podemos quedarnos con los brazos cruzados mientras que algunos fondos de inversones buscan maximizar sus ganancias a costa de la isla. Es por eso que voy a seguir apoyando al pueblo de Puerto Rico hasta que se logre la estabilidad de su economía y la prosperidad, incluyendo los pasos que estoy comprometida a tomar como presidenta para lograr la igualdad en los programas federales cruciales.”

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News Source: Washington Post

Bill and Chelsea Clinton Continue Campaign Appearances

On Wednesday and Thursday, Bill and Chelsea Clinton continued to campaign on behalf of Hillary Clinton. Wednesday, Bill was in New Hampshire for two events. The first was a gathering with volunteers in Salem. His second event of the day was in Concord where he spoke at a rally. He asked those in attendance at both events to support Hillary in the tight race between her and Bernie Sanders. Bill touted Hillary’s experience and the fact that she is a “change maker.” He admitted that he always knew she would have a tough time in New Hampshire saying, “We’re fighting it out in Iowa. We’ve got a little lead that I think is solidifying and maybe growing a little bit. We’re on a home-field disadvantage here. But the real issue is, who can win the election, who’s prepared the do the job, who can make real change?” A video from the Salem event is below.

Today, both Bill and Chelsea were scheduled to attend fundraisers. Bill was in Denver, Colorado for a fundraiser at the home of Cindy and Steve Farber. Chelsea, meanwhile, attended a fundraiser in support of the Clinton Foundation Haiti Relief Fund at the TriBeCA SoulCycle studio. The proceeds from that event were not for Hillary for America.

Tomorrow, Bill will be on the West Coast and Chelsea’s next scheduled event is next week in California. For all the latest, follow our revamped Scheduled Events page and follow Clinton on Twitter, Facebook, and Instagram.

News Source: The Washington Post