Harris Sides With Big Banks at the Expense of Maryland Families in Opposing Efforts to Rein in Greedy and Reckless Behavior by Wall Street
With the Wall Street Reform package set to become law, Andy Harris should explain to voters why he would put the interests of big banks ahead of protecting Maryland families. In a June 2010 radio interview, Harris said that he did not support the Wall Street Reform package adopted by the House.
Once again, Harris is siding with Wall Street-backed special interests like Club for Growth, which spent millions of dollars on his behalf during the 2008 campaign. Rather than rein in the greed and reckless behavior that led to the 2008 economic collapse with common sense solutions, Harris instead prefers to maintain the status quo by looking out for his buddies on Wall Street and putting homeowners, consumers, and small businesses last.
Andy Harris’ outrageous refusal to hold Wall Street accountable and protect consumers from predatory lending, credit card and mortgage abuse is yet another reminder that Harris stands with big banks, not with Maryland’s middle class families. Hardworking families, seniors and small businesses that played by the rules saw their jobs and economic security wiped out by Wall Street’s greed deserve better than Andy Harris.
Protecting consumers and holding big banks accountable is a key piece of the change that all of us fought for in 2008. We are proud that Frank Kratovil and our entire Maryland Democratic congressional delegation supported this important reform. This is a huge victory for all Marylanders.
House passes bill to extend tax credit from July 1st to October 1st.
Washington, DC – Today, the House of Representatives passed an extension of the $8,000 homebuyer tax credit for first time homebuyers. The extension was set to expire at the end of June. The extension, sponsored by Rep. Frank Kratovil and his colleagues Rep. Travis Childers (D-MS) and Kathy Dahlkemper (D-PA), will extend the credit until October 1, 2010.
“The first time home buyer tax credit is working to revitalize the housing industry, a major indicator of the overall strength of the economy,” said Rep. Frank Kratovil. “However, more than 2,000 Marylanders who have already signed a contract to purchase a new home are having their closings delayed through no fault of their own. This common sense legislation will ensure that these individuals receive the tax credit that they rightfully deserve. Extending this tax credit will not only boost our economic recovery and support our housing market, but it is also the right thing to do.”
The bill extends the credit for all homebuyers with a binding contract as of April 30, 2010 so that they are afforded more time to close the sale and still benefit from the credit.
In late September Reps. Frank Kratovil (D-MD) and Travis Childers (D-MS) introduced a bill, The Tax Credit Extension for Homebuyers with a Loss Deduction Incentive Act (H.R. 3640), to extend the first time home buyer tax credit. A similar home buyer tax credit extension was eventually signed into law on November 6, 2009.
Click here to view a letter of support from the National Association of Realtors.