Politics

Chiding Congress, Obama Urges Fast Ex-Im Bank Renewal

Published

9 years ago

July 22, 2015

President Barack Obama, center, with Paul Sullivan, left, Vice President of International Business Development at Acrow Bridge, and Susan Jaime, right, CEO Ferra Coffee International, during his meeting with small business owners to discuss the importance of the reauthorization of the Export-Import Bank in the Roosevelt Room of the White House in Washington, Wednesday, July 22, 2015. (AP Photo/Pablo Martinez Monsivais)

JOSH LEDERMAN, Associated Press
ERICA WERNER, Associated Press

WASHINGTON (AP) — Chiding Congress in no uncertain terms, President Barack Obama warned Wednesday that American businesses are suffering while the Export-Import Bank lapses, and called on lawmakers to reauthorize the bank within days.

With Congress nearing its annual August recess, Obama said the U.S. “cannot leave these businesses hanging” by punting a vote to renew the bank until after Congress returns. He said it was a “shame” that the bank had been allowed to expire, and said the lapse puts the U.S. at a disadvantage because “every other advanced country has a program like this” to promote its exports.

“We cannot unilaterally disarm,” Obama said during a meeting in the Roosevelt Room with small businesses affected by the bank’s expiration. “Orders are on hold. Businesses are in danger We need to get this done.”

An obscure federal agency unknown to most Americans, the Export-Import Bank underwrites loans to foreign companies that are purchasing American products, which helps U.S. businesses successfully market their products overseas. Conservatives denounce it as corporate welfare, although Obama insisted that’s not the case. He said the U.S. Treasury actually benefits because the government makes money from the bank.

The bank’s charter expired June 30 for the first time in its 81-year history because of congressional inaction. With conservative opponents celebrating its demise, prospects to revive it are uncertain.

Supporters in the Senate are hoping to add it to must-pass highway legislation now being considered — and they have the votes to prevail — but the underlying highway legislation may run into trouble. The House has passed its own, shorter highway bill without the Export-Import Bank included, and House Republicans are opposed to the Senate bill.

The White House not only supports adding the bank’s reauthorization to the bill, but “insists” that it be added to the crucial highway legislation, White House spokesman Josh Earnest said on Wednesday.

Complicating matters, Congress’ legislative session is drawing near its close, so supporters face the prospect of running out of time to push the Export-Import Bank across the finish line before lawmakers leave Washington for their annual August recess.

“This should be a no-brainer,” Obama said.

The bank cannot currently make new loans or guarantees but remains in business to service billions in outstanding loans and guarantees. However its funding runs out Sept. 30 so if Congress does not act before then to revive it, its outlook becomes even more shaky.

___

Reach Josh Lederman on Twitter at http://twitter.com/joshledermanAP and Erica Werner at http://twitter.com/ericawerner

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Oakland Post: Week of April 24 – 30, 2024

The printed Weekly Edition of the Oakland Post: Week of April 24 – 30, 2024

Published

2 days ago

April 26, 2024

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MAYOR BREED ANNOUNCES $53 MILLION FEDERAL GRANT FOR SAN FRANCISCO’S HOMELESS PROGRAMS

San Francisco, CA – Mayor London N. Breed today announced that the U.S. Department of Housing and Urban Development (HUD) has awarded the city a $53.7 million grant to support efforts to renew and expand critical services and housing for people experiencing homelessness in San Francisco.

Published

1 week ago

April 20, 2024

Oakland Post

Mayor London Breed

FOR IMMEDIATE RELEASE:

Wednesday, January 31, 2024

Contact: Mayor’s Office of Communications, mayorspressoffice@sfgov.org

***PRESS RELEASE***

MAYOR BREED ANNOUNCES $53 MILLION FEDERAL GRANT FOR SAN FRANCISCO’S HOMELESS PROGRAMS

HUD’s Continuum of Care grant will support the City’s range of critical services and programs, including permanent supportive housing, rapid re-housing, and improved access to housing for survivors of domestic violence

San Francisco, CA – Mayor London N. Breed today announced that the U.S. Department of Housing and Urban Development (HUD) has awarded the city a $53.7 million grant to support efforts to renew and expand critical services and housing for people experiencing homelessness in San Francisco.

HUD’s Continuum of Care (CoC) program is designed to support local programs with the goal of ending homelessness for individuals, families, and Transitional Age Youth.

This funding supports the city’s ongoing efforts that have helped more than 15,000 people exit homelessness since 2018 through City programs including direct housing placements and relocation assistance. During that time San Francisco has also increased housing slots by 50%. San Francisco has the most permanent supportive housing of any county in the Bay Area, and the second most slots per capita than any city in the country.

“In San Francisco, we have worked aggressively to increase housing, shelter, and services for people experiencing homelessness, and we are building on these efforts every day,” said Mayor London Breed. “Every day our encampment outreach workers are going out to bring people indoors and our City workers are connecting people to housing and shelter. This support from the federal government is critical and will allow us to serve people in need and address encampments in our neighborhoods.”

The funding towards supporting the renewal projects in San Francisco include financial support for a mix of permanent supportive housing, rapid re-housing, and transitional housing projects. In addition, the CoC award will support Coordinated Entry projects to centralize the City’s various efforts to address homelessness. This includes $2.1 million in funding for the Coordinated Entry system to improve access to housing for youth and survivors of domestic violence.

“This is a good day for San Francisco,” said Shireen McSpadden, executive director of the Department of Homelessness and Supportive Housing. “HUD’s Continuum of Care funding provides vital resources to a diversity of programs and projects that have helped people to stabilize in our community. This funding is a testament to our work and the work of our nonprofit partners.”

The 2024 Continuum of Care Renewal Awards Include:

$42.2 million for 29 renewal PSH projects that serve chronically homeless, veterans, and youth
$318,000 for one new PSH project, which will provide 98 affordable homes for low-income seniors in the Richmond District
$445,00 for one Transitional Housing (TH) project serving youth
$6.4 million dedicated to four Rapid Rehousing (RRH) projects that serve families, youth, and survivors of domestic violence
$750,00 for two Homeless Management Information System (HMIS) projects
$2.1 million for three Coordinated Entry projects that serve families, youth, chronically homeless, and survivors of domestic violence

In addition, the 2023 CoC Planning Grant, now increased to $1,500,000 from $1,250,000, was also approved. Planning grants are submitted non-competitively and may be used to carry out the duties of operating a CoC, such as system evaluation and planning, monitoring, project and system performance improvement, providing trainings, partner collaborations, and conducting the PIT Count.

“We are very appreciative of HUD’s support in fulfilling our funding request for these critically important projects for San Francisco that help so many people trying to exit homelessness,” said Del Seymour, co-chair of the Local Homeless Coordinating Board. “This funding will make a real difference to people seeking services and support in their journey out of homelessness.”

In comparison to last year’s competition, this represents a $770,000 increase in funding, due to a new PSH project that was funded, an increase in some unit type Fair Market Rents (FMRs) and the larger CoC Planning Grant. In a year where more projects had to compete nationally against other communities, this represents a significant increase.

Nationally, HUD awarded nearly $3.16 billion for over 7,000 local homeless housing and service programs including new projects and renewals across the United States.