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Congresswoman Nydia Velazquez

Representing the 7th District of New York

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Economy

Today, there is a shamefully large gap between the rich and the poor in America. Working families should not have to live in poverty in a country of our wealth. Congresswoman Velázquez is focused on fostering principled investments that will eliminate the technological divide that exists and improve the quality of life for everyone in our communities.

The Congresswoman strongly supports efforts to establish a living wage, strengthening one of America’s most important anti-poverty measures—the Earned Income Tax Credit—and providing workers with the leverage they need to negotiate fair wages, health insurance and safe workplace conditions. These programs will help to improve the lives of all laborers in the 7th District and their families.

The federal government must join together with local communities to reclaim and restore environmentally-damaged areas so that residents can enjoy the use of safe and vibrant locations throughout their communities. She recognizes that revitalizing our neighborhoods is a key component to improving the local economy, and is committed to making New York’s 7th Congressional District a better place for all its residents.

More on Economy

February 8, 2017 Press Release

Washington, DC – The House Financial Services Committee has approved three amendments authored by Rep. Nydia M. Velázquez (D-NY). The provisions were adopted as part of the Committee’s Authorization and Oversight Plan and would help address pressing issues facing New Yorkers.  

“Housing issues are critically important to all New Yorkers and the amendments I authored and my colleagues approved will make important strides for both renters and homeowners living throughout the five boroughs,” Velázquez said.

October 11, 2016 Press Release

Washington, DC – Rep. Nydia M. Velázquez (D-NY) led seventeen of her House colleagues in calling on regulatory agencies to investigate whether Wells Fargo’s unethical cross-selling practices and illegal opening of secret accounts extended to its small business lending division.  As the Ranking Democrat of the House Small Business Committee and a senior Member of the Financial Services Committee, Velázquez previously questioned Wells Fargo’s CEO about the topic at a Congressional hearing.  

September 21, 2016 Press Release

Washington, DC – U.S. Rep. Nydia M. Velázquez (D-NY) today spoke on the House floor in opposition to the Trans-Pacific Partnership, a trade deal that could come before Congress by the end of the year.  Video of her speech can be accessed here and below are her remarks as prepared for delivery.  

Trans Pacific Partnership Floor Statement
September 21, 2016

September 20, 2016 Press Release

Washington, DC – U.S. Rep. Nydia M. Velázquez (D-NY) today called on Governor Cuomo to help small businesses impacted by the Chelsea explosion.  Under federal law, a state’s governor can certify that businesses have suffered economic harm from a disaster, which then allows small businesses, homeowners and renters to apply for emergency loans from the U.S. Small Business Administration (SBA).  In a letter to Cuomo, Velázquez called for the Governor to exercise this option.

September 13, 2016 Press Release

(Washington, DC) - Rep. Nydia M. Velázquez (D-NY) made the following statement during the Financial Services Committee markup of H.R. 5983, legislation to repeal Dodd-Frank:

I move to strike the last word.   Another day, another attempt to eliminate the Dodd-Frank Act.  Today is not a remedy for Dodd-Frank’s problems – it is a political talking point that does nothing to help Main Street.  It is just another attempt to help special interests while saying it’s for the little guy.

June 16, 2016 Press Release

Bill Would Close Decades-Old Loophole Allowing Conflict of Interest

Washington, DC – The House Committee on Financial Services today approved legislation authored by U.S. Rep. Nydia M. Velázquez (D-NY) to close a decades-old loophole that has caused significant financial losses for many Puerto Rican investors and retirees. Velázquez’s bill, H.R.5322, would extend to investment companies operating in Puerto Rico and all the U.S. territories the same protections as those afforded to investors residing on the U.S. mainland.