Economy

WASHINGTON — Today, Congresswoman Nydia M. Velázquez (D-NY) secured key provisions in H.R. 6644 the Housing for the 21st Century Act to expand access to affordable housing through cooperative ownership models while strengthening Congressional oversight to protect tenants in federally monitored public housing authorities.

WASHINGTON- Today, Congresswoman Nydia M. Velázquez (D-NY) led 35 Members of Congress in demanding answers from Treasury Secretary Scott Bessent regarding the Trump Administration’s reported plan to extend approximately $20 billion in support to Argentina through the U.S. Department of the Treasury’s Exchange Stabilization Fund (ESF).
 
The lawmakers warn that the ESF is being used to provide extraordinary financial assistance to President Javier Milei’s government for political ends, rather than to serve U.S. economic interests.

WASHINGTON – Today, Rep. Nydia M. Velázquez (D-NY) released the following statement after the implementation of President Trump’s 25% tariffs on Canada and Mexico:
 
“Trump’s tariffs are nothing more than a tax hike on hardworking families and small businesses. Instead of fighting inflation, this policy will drive up costs for the American people while hurting the economy.  
 

WASHINGTON – Today, U.S. Senator Chris Van Hollen (D-Md.) and Congresswoman Nydia Velázquez (D-N.Y.) urged financial regulators to finalize actions to prohibit compensation arrangements for executives of large financial institutions that encourage reckless decision-making.

Washington D.C.— Today, Rep. Nydia M. Velázquez (D-NY) reintroduced a bill to address the growing income discrepancy between company CEOs, other senior staff, and median-pay employees. Velázquez's bill, the Greater Accountability in Pay, H.R. TBD, would require public companies to disclose the pay raise percentage of its executives and median-pay employees and compare each to the inflation rate.

Washington, D.C.— Today, Congresswoman Nydia M. Velázquez (D-NY) and Senator Chris Van Hollen (D-MD) urged the Federal Reserve, Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), Securities and Exchange Commission (SEC), Federal Housing Finance Agency (FHFA), and National Credit Union Administration (NCUA) to finalize Section 956 of the Dodd-Frank Act, which governs executive incentive-based compensation arrangements, before the end of the year.
 

Washington, DC – Led by Rep. Nydia M. Velázquez (D-NY), three New York City lawmakers are calling on New York City Mayor Bill de Blasio to postpone the City's 2020 Tax Lien Sale, currently slated for September 4, 2020. New York City's Department of Finance annually sells liens of residential properties that have unpaid debts on property taxes, water bills, and other costs. When liens are sold to entities like collection agencies, this can result in homeowners' fees and interest of up to 18 percent.

Washington, DC - Rep. Nydia M. Velázquez (D-NY) released the following statement regarding Industry City:

"It's come to my attention that several City Council Members who do not represent the Sunset Park community, or even the same borough, have seen fit to advocate on behalf of the Industry City rezoning application. It would be extraordinarily shortsighted for City Council Speaker Johnson and other members of the Council to pay these misguided views undue heed.