07.14.08

Maria's Monday Memo

Introducing Legislation to Curb High Energy and Food Prices
 
Last week,following a series of hearings where financial experts said that one reason for the recent spikes in food and energy prices may be due to excessive speculation in the commodities market,  I joined Senators Joseph  Lieberman (I-CT)  and Susan Collins (R-ME) and  to introduce the Commodity Speculation Reform Act of 2008. I think we need to establish a clear, bright line in the oil and gas markets from possible market manipulation. The American public and businesses are being crushed by out of control oil prices and need Congress to rein in excessive speculation and bring these markets back under control. The Commodity Speculation Reform Act will add transparency to futures markets and close the door to excessive speculation by tightening key investment laws and clarifying the oversight mission of the Commodities Futures Trading Commission (CFTC). The bill will also provide additional resources to the CFTC, whose oversight has grown over the past few years while its resources have dwindled. For a summary, click here.
 
 
Seeking a “Real Rebid, Not a Rehash”
 
Last Wednesday, the Secretary of Defense decided to rebid the Tanker contract. In my eyes, there must now be a real bid not a rehash; a rebid that protects our national security, shields the American taxpayer from undisclosed operating and infrastructure costs, and buys a tanker that can refuel the entire fleet. I welcome this decision to rebid the tanker contract. The GAO report made it impossible for Secretary Gates to make any other decision. The American people and the American warfighter cannot afford the same Defense procurement team to make the same mistakes. The Secretary of Defense and Congress must ensure that these significant issues aren’t ignored and the new rebid must be fair to all parties involved.  The American warfighter and taxpayer expect that the Air Force will get this done fast and do it right. Congress must play a strong oversight role and I have urged the Senate Armed Services Committee to quickly hold a closed hearing to make sure the Department of Defense and Congress are fully aware of the national security issues involved. This issue is too important to have another whitewashed contracting process.
 
 
Intelligence Surveillance Must Protect National Security and Americans’ Rights
Last week, the Senate voted on the FISA Act. It is clear we all want to protect our country’s national security interests and Americans from those who would do us harm, but to do so without accountability or without checks and balances is contrary to our country's very foundation. I have serious concerns about this legislation including whether innocent Americans’ privacy rights will be respected. I am also troubled that this bill would effectively dismiss 40 pending cases regarding telecom companies' participation in the Bush Administration’s warrantless surveillance program. Congress should not be providing blanket immunity for telecommunications companies that cooperated with the Administration’s warrantless wiretapping programs. We don’t know precisely what those companies did or the full extent of their actions.  Congress should respect judicial review and not take away the only opportunity for redress available to American citizens for potential overreaching by this Administration.
 
 
Providing All Americans with Affordable, High Quality Health Care
 
I announced my support last week for the Healthy Americans Act, a comprehensive measure designed to provide every American with affordable, comprehensive health coverage.   With health care costs continuing to rise and more and more Americans left underinsured or uninsured, the Healthy Americans Act is a step in the right direction. It is the first bicameral, bipartisan comprehensive measure to fully insure Americans and provide them with affordable, portable, and high quality health insurance coverage.  The Healthy American Act recognizes that our health care system is broken, and provides the blueprint needed to start having a serious conversation about our country’s health care priorities.
 
 
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