Press Releases

The 5.8% cost-of-living adjustment (COLA) is the largest since 1982 and will raise the average recipient’s monthly benefit to $1,153 from the current $1,090.

“Social Security has protected four generations against poverty in their golden years,” said Congresswoman Kaptur. “Today, it is a vital lifeline for 57 million Americans.”

Kaptur said the COLA will help seniors cope with some of the harsher effects of the current economic situation, including higher costs for food and fuel.

U.S. Representative Marcy Kaptur (OH-9) said as many as 32,000constituents have not yet filed 2007 returns. Most of the non-filersare taxpayers who received six-month extensions beyond the April 15 taxdeadline, but as many as 9,000 are Social Security recipients, disabledveterans, and lower-income people who are not otherwise required tofile returns.

“File a return by tomorrow if you want an economic stimuluspayment this year,” Kaptur said this morning. “Everyone who is entitledto a stimulus check must file a return. Especially during thesedifficult economic times, senior citizens or disabled veterans needthis payment to help make ends meet.”

“Sending more than $1 billion dollars a day to Communist Chinais unacceptable,” said U.S. Representative Marcy Kaptur (D-OH).“President Bush continues to encourage one-sided, reckless trade withChina that promotes human rights abuses, abhorrent working conditions,and abusive economic practices. Americans deserve better than a race tothe bottom.”

The U.S. topped last year’s China deficit figure in August by more than$2 billion. In all of 2007, the U.S. imported more goods from Chinathan from any other country, leading to a deficit of $256.2 billiondollars.

Pointing to the appointment of Neel Kashkari as interimdirector of the bailout plan, Kaptur said she is concerned that aformer Goldman Sachs executive has been given such authorityconsidering the firm’s track record.

“The American people deserve to know how much taxpayer moneyKashkari’s former employer, Goldman Sachs, will receive in the bailoutand how many of Goldman’s former staffers will be involved,” she said.“The American people are watching the Bush Administration’s every move,and this appointment raises questions about insider access and selfdealing.”

The Federal Deposit Insurance Commission (FDIC), an independent agency of the federal government, recently raised its coverage limits to $250,000, including:

• Single accounts (owned by one person);

TheToledo-based Northwest Ohio Development Agency (NODA) has received afederal award of $35,313 to provide housing counseling service,according to Representative Marcy Kaptur.

NODA, which provides financial support and advice to people andorganizations in Lucas County, will us the funds for homeownershipcounseling, including foreclosure prevention.

“It is crucial that families have the best informationavailable as they buy a home or try to avoid foreclosure,” saidCongresswoman Kaptur. “The first step for any local family facingforeclosure to is get counseling.”

NODA, which provides financial support and advice to people andorganizations in Lucas County, will us the funds for homeownershipcounseling, including foreclosure prevention.

“It is crucial that families have the best informationavailable as they buy a home or try to avoid foreclosure,” saidCongresswoman Kaptur. “The first step for any local family facingforeclosure to is get counseling.”

Counseling agencies such as NODA help homebuyers andhomeowners realistically evaluate their readiness for a home purchase,understand their financing and down payment options, and nagivate whatcan be an extremely confusing and difficult process.