[StBernard] Washington Newsletter from Rep. Richard H. Baker

[Westley Annis]

December 16, 2005

Thank you for signing up for Congressman Baker's newsletter. Below are issue
updates that you may find interesting. As always, please visit his website
at http://www.baker.house.gov <http://www.baker.house.gov/>  for the most
up-to-date news and information on what Congressman Baker is working on in
the Sixth Congressional District of Louisiana.

Committee Passes Congressman Baker's Louisiana Recovery Corporation Bill

By a vote of 50-9, the Financial Services Committee approved H.R. 4100, the
"Louisiana Recovery Corporation Act."
<http://www.baker.house.gov/files/LRC2.pdf>  The legislation, introduced by
Congressman Richard Baker on October 20, 2005, would offer financial
stability to property owners and facilitate community rebuilding in
hurricane-ravaged Louisiana.

The Louisiana Recovery Corporation Act would establish the Louisiana
Recovery Corporation (LRC) that will work with willing property owners to
purchase residential and commercial property, relieving hurricane victims of
their mortgage obligations up to $500,000 and transferring title to the LRC.
Bonds issued by the Treasury Department would fund the acquisitions.  The
LRC would then make necessary infrastructure repairs before selling the
property to private developers through a competitive bidding process.  

This is a major step toward providing urgently needed financial options to
tens of thousands of Louisiana citizens who right now face terrible choices,
between continuing to pay the house note on a destroyed home they will never
live in again or accepting foreclosure and an impaired credit record.  It's
also a step toward rebuilding communities through the maintenance of a
functioning market system, safeguarding a lending industry that will be
essential for financing recovery efforts, and utilizing private sector
resources to provide a fiscally responsible return on the taxpayer's
investment. 

H.R. 4100 now awaits consideration by the full House of Representatives and
the Senate.

House of Representatives Passes Pension Reform Legislation

The financial troubles of some companies are forcing some employers to
consider terminating their defined benefit pension plans, threatening
American taxpayers with the prospect of a multi-billion dollar bailout. At
the heart of this potential crisis are outdated federal laws that govern
defined benefit pension plans and sometimes make it difficult to ensure
worker retirement plans are adequately funded.

H.R. 2830, the "Pension Protection Act of 2005," passed the House of
Representatives on Thursday, December 15th by a vote of 294 to 132. This
legislation protects workers and taxpayers by strengthening the defined
benefit system, and providing needed reforms to 401(k) plans that will help
workers protect and expand their retirement savings. Protecting and
strengthening the retirement security of American workers has been a top
priority for Congress. Congressman Baker believes that reforming our pension
laws should encourage employers to offer both 401(k) accounts and defined
benefit plans to their workers.

Congressman Baker Supports Stronger Protection of America's Borders

The House of Representatives is currently discussing H.R. 4437, the "Border
Protection, Antiterrorism and Illegal Immigration Control Act," which is
expected to come to a final vote late in the evening of December 16th.
Congressman Baker, a long-time advocate of meaningful of immigration reform
and border security initiatives throughout his service in Congress, supports
measures that will stop the flow of illegal immigrants into our country and
deport those who unlawfully cross our borders and take advantage of services
in the U.S. at the expense of law-abiding, legal citizens.

H.R. 4437 contains the following provisions:

		Strengthens the eligibility verification system;

		Increases penalties for alien smuggling, as well as for
aliens re-entering illegally;

		Prohibits entry for refugees/asylees with aggravated felony
convictions;

		Fosters greater cooperation between border sheriffs and
federal law enforcement;

		Improves military support for border patrol and adds more
focus on port security;

		Eliminates the "Catch and Release" practice; and,

		Promotes international policies to deter illegal
immigration.