Leading House Democrats today sent a letter urging United States Trade Representative (USTR) Michael Froman to negotiate provisions in the upcoming Trans-Pacific Partnership (TPP) trade agreement that provide governments the flexibility to help protect and strengthen the stability of their financial systems by implementing measures that would stem flows of speculative capital. The… Read more »

Five leading Democratic lawmakers today called on President Obama to urge the International Monetary Fund (IMF) to revisit the terms of Jamaica’s current economic program, which to date has been characterized by continued low growth, a decline in social indicators, high unemployment and threats to social cohesion. The House lawmakers did so in a letter led by Congresswoman Maxine Waters… Read more »

As the White House intensifies its push for Trade Promotion Authority from Congress so it can conclude talks on the 12-nation Trans-Pacific Partnership (TPP), yesterday Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, expressed concern that the TPP could undermine essential financial reforms, including those passed as part of the Dodd-Frank Wall… Read more »

At today’s Financial Services Committee hearing with Treasury Secretary Jack Lew, Ranking Member Maxine Waters (D-CA) continued to express her disappointment with the Republican refusal to ratify the International Monetary Fund (IMF) quota reform package. In her remarks, Waters underscored the importance of approving the package, and laid out the harmful impact delaying these reforms will… Read more »

Senate Banking Committee Chairman Richard Shelby (R-Ala.) signaled Thursday that he's willing to support reauthorizing the Export-Import (Ex-Im) Bank, as long as it is reformed to help small businesses. "I have problems with the status quo, but I've supported Ex-Im before," Shelby told reporters. Congress must reauthorize Ex-Im by the end of June, or it shuts down. Shelby said he'll… Read more »

This week, Democratic leaders of the House Financial Services Committee and the Congressional Progressive Caucus expressed concern that a trade deal currently under negotiation between the U.S. and the European Union could restrict the ability of Congress to enact measures aimed at promoting growth and stability and protecting the rights of consumers. In a letter led by Congresswoman… Read more »

U.S. leadership critical to preserving global economic order As the 113th Congress prepares to adjourn, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, is calling on Committee Chairman Jeb Hensarling (R-TX) to take action to affirm U.S. support for international entities that support projects to combat hunger, poverty and inequality in the world’s… Read more »

Today, two key lawmakers on the House Financial Services Committee unveiled a bipartisan discussion draft of legislation to renew and reform the charter of the Export-Import Bank (Ex-Im Bank), an agency that supports hundreds of thousands of jobs and levels the playing field so that American businesses are able to compete successfully in global markets. Rep. Gary Miller (R-CA),… Read more »

At today’s Financial Services Committee hearing with Secretary Jack Lew, Ranking Member Maxine Waters expressed her disappointment that House Republicans have refused to ratify the International Monetary Fund (IMF) quota reform package, she underscored its importance, and laid out the harmful impact delaying these reforms will have on global stability. Waters delivered these remarks… Read more »

Multilateral approach necessary to meet the urgent needs of Ukraine Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, urged Senate Majority Leader Harry Reid (D-NV) to retain the International Monetary Fund (IMF) provisions in the Ukraine package expected to be considered this week. She released the following statement: “I strongly urge… Read more »

In today’s Financial Services Committee hearing on “Why Debt Matters,” Ranking Member Maxine Waters (D-CA), underscored the importance of promoting growth and reducing income inequality through short-term increases in discretionary fiscal stimulus in order to reduce the nation’s debt and deficit.  In her remarks, Waters criticized austerity measures such as the Sequester for… Read more »

At today’s Financial Services Committee hearing with Secretary Jack Lew, Ranking Member Maxine Waters discussed the issue of growing income inequality and called for action by increasing the minimum wage, extending unemployment insurance, and providing trade adjustment and other assistance for those in the U.S. clustered in the low-skill end, who are disadvantaged by globalization. She… Read more »

As the House and Senate work to reconcile differing versions of legislation to implement an Obama Administration deal with Mexico to develop oil and gas resources in the Gulf of Mexico, three leading House Democratic lawmakers called on Senate Majority Leader Harry Reid (D-NV) to reject House Republican efforts to waive a provision in the Dodd-Frank Wall Street Reform and Consumer… Read more »

Outlines priorities for new sovereign debt restructuring framework Today, at a Capitol Hill briefing on “Responsible Lending and Borrowing and the Impact of Holdout Creditors for the Extreme Poor,” Congresswoman Maxine Waters, in a statement, called for the establishment of a formal, institutionalized, and politically recognized mechanism for restructuring the debt of bankrupt… Read more »

As the keynote speaker today at the launch of a civil society report on global financial governance, Congresswoman Maxine Waters discussed the challenges of globalization, the importance of the international financial institutions, and the problem of growing inequality in both advanced and some emerging market countries.  In a speech that touched upon a range of issues related to… Read more »

Today, the International Monetary Policy and Trade Subcommittee approved H.R. 4573, the Debt Relief for Earthquake Recovery in Haiti Act, introduced by Rep. Maxine Waters (D-CA). The bill would require the Secretary of the Treasury to instruct the U.S. Executive Directors at the International Monetary Fund (IMF), the World Bank, the Inter-American Development Bank (IDB), and other… Read more »