Last fall, I fought for the Wall Street Reform and Consumer Protection Act, a reform package that will protect consumers from the financial fallout of the selfish actions of bankers and prevent taxpayers from ever having to foot the bill for another bailout when risky investments go south. It will force the banks to pay back all bailout money they received and then go further, to tighten the reigns on Wall Street’s worst practices.

In my book, “too big to fail” means too big -period. No one bank- or small group of financial firms- should have the power to collapse our nation’s economy in the blind pursuit of profit. At the end of the day, all the reforms in the world cannot stop all irresponsible behavior and unreasonable risk-taking. But we can ensure that the impact of such bad decision-making is limited by ending the “too big to fail” financial firms. This will both protect the financial well-being of our families, students and retirees as well as businesses small and large. Perhaps more importantly, it will end the need for big bank bailouts that punish taxpayers for Wall Street’s risky decisions.

Moving forward, the proposed Consumer Financial Protection Agency (CFPA) will protect consumers from some of Wall Street’s worst abuses. For too long, banks have been allowed to engage in marketing gimmickry and predatory lending practices, aimed right at those who can afford it the least – families and small businesses. The CFPA will enforce transparency and fairness in lending, ensuring that credit cards, mortgages and personal loans are understandable, affordable and free of devious fine print.

Further oversight at the non-commercial level is needed as well. Just a few years ago, phrases like “credit default swap” were not something you ever heard in every day conversation, and with good reason. Overly complex financial products like CDS’s and derivatives – once referred to as “financial weapons of mass destruction” by Warren Buffet – devastated companies like Lehman Brothers and AIG, kicking off the financial crisis. Investors should never be in the dark when it comes to how their money is being spent. The current reform package will subject these volatile practices, once hardly regulated at all, to serious oversight. And entities like the SEC, which had been virtually powerless to deal with them, will be given a mandate for real enforcement and the funding with which to carry it out.

Sliding back into another economic crisis because we did not crack down on Wall Street abuses when we had the chance is not acceptable. That means standing up and fighting back right now against the defenders of the status quo who are already hard at work lobbying against this bill, trying to water it down to keep lining their pockets. We’ve all had to take our medicine. Now it’s time for Wall Street to take theirs.

(Cross-posted at Blue Jersey and Daily Kos.)

Since President Obama’s historic election, we’ve brought about the change our nation is clamoring for – from making sure women receive equal pay to providing assistance to homeowners and small businesses. Moreover, the history books will surely look back on extending health care coverage to 35 million more Americans as a massive achievement.

Nonetheless, our opponents want to turn back the clock to the days when Bush-Cheney policies put the well-connected at the top of the agenda and Rove politics ruled the day. Our opponents are seeking to reverse all the progress we’re making. And they have deep pockets to fund those candidates and causes who share their regressive goals.

I need your help to fight back.

I hope you’ll consider attending our campaign kickoff fundraiser next Friday, May 14th at Tim McLoone’s Supper Club in Asbury Park. To RSVP, please contact Alison Zayas at azayas@pallonefornewjersey.com or (732) 571-4141. Even if you can’t make this event, please consider making a secure online donation, so I can continue doing the job I was sent to do. Just $50, $25 or even $10 can make a huge difference.

I will never forget who I am, where I came from or who I work for. My heart lies in fighting for my constituents – and when I disagree with my own party, I speak up. This is exactly what happened last month when President Obama brought up the notion of expanding offshore drilling. I believe the limited amount of oil offshore in the Atlantic is simply not worth the risk of drilling. Sadly, we are seeing the disastrous effects of this misguided policy in the Gulf right now. I will always fight to make sure New Jersey’s beaches, fisheries and shore economies are protected. That’s why I just introduced a bill to increase oil company liability from $75 million to $10 billion. Big Oil should pay the bills for all the harm they cause.

Only 180 days stand between now and Election Day. And nothing should stand in the way of continuing the progress we’ve been making. I hope I can count on your continued support to provide our campaign with the resources needed to grow our grassroots operation and fight back against those who seek to turn reverse all the good we’re doing.

(Cross-posted at Blue Jersey & Daily Kos.)

I’ve spent my career fighting to protect New Jersey’s environment – our water, our beaches and our air. This is not just an issue of importance that I talk about on Earth Day, but rather something near and dear to my heart all year long. That’s why I wanted to take this opportunity to give you an update on some of the actions we are taking to protect our natural resources and treasures.

We all know how important clean beaches are to our shore economy. That’s why I was proud to help pass the Beach Protection Act. This landmark legislation requires tough new water quality testing and public notification standards so beachgoers can be confident the waters they’re swimming or surfing in are clean.

Nonetheless, we still find far too much pollution on our shores. Recently, Clean Ocean Action released their Beach Sweeps Report – which presented findings of over 301,500 items washing up over 132 sites statewide. Over the span of just a few months, they removed almost 4,200 bags of trash and nearly 60,000 pounds of debris from coastal habitats. The most common items found were plastic lids, caps, straws and shopping bags, as well as bottles, metal caps, food wrappers and cigarette filters. Sadly, far too many people seem to be forgetting the days – not too long ago - when our shores were closed due to dangerous and unhealthy debris.

Right now, our beaches and ocean waters are facing a new, potentially greater threat. President Obama recently announced plans to open up certain parts of the East Coast for exploration and drilling for oil and natural gas. This misguided policy is not simply troubling - it is unacceptable. So, I’m organizing colleagues, stakeholders, constituents and grassroots activists to write the President and tell him not to put our beaches in jeopardy. I hope you will join us in calling the White House or writing members of Congress.

I am also renewing my call for President Obama to issue an Executive Order to protect our beaches and shore economies by preventing offshore exploration and drilling. We simply cannot let Big Oil or their lobbyists call the shots. In the House, I am reintroducing the Clean Ocean and Safe Tourism Anti-Drilling Act to put a permanent legislative moratorium in place. There is little doubt that this is going to be a tough fight. But, with your help, I know it is one we can win. I’m already encouraging my colleagues in the House of Representatives to sign on as co-sponsors and supporters of this vital legislation.

Just last week, Congress passed the Clean Estuaries Act to improve the health of New Jersey’s waterways and coastal areas. This isn’t just an environmental issue – it is also an economic one. Thousands of New Jersey’s jobs, including commercial and recreational fishermen, are tied to the strength of our state’s coastal areas. This bipartisan legislation will fund better water quality and habitat restoration in areas to improve transition zones between fresh water from rivers and salt water from the ocean.

Right now, I’m also working with my good friend Senator Lautenberg to make sure those companies that create toxic messes are the ones paying to clean them up. We want to re-instate a “polluter pays” tax on chemical and petroleum industries to finance superfund clean-ups nationwide. The original bill expired during the Clinton administration when the Republicans took over Congress, and they refused to reinstate it. I am fighting to hold corporate polluters accountable for the sites they contaminate, once and for all. I am fighting to make sure these superfund clean-ups are no longer being funded solely with your taxpayer dollars.

We must remain vigilant in protecting our precious natural resources – not only when the weather is nice or when we feel “under attack.” We must be proactive when it comes to conserving energy and working to reduce our carbon footprint. Simple steps, like using Energy Star appliances, signing up for clean power generation programs and recycling plastic goods and newspapers can make a huge difference. I will continue my fight to make New Jersey a hotbed of green energy technology by promoting tax cuts for residents who start using renewable domestic energy sources. Not only on Earth Day, but each and every day, we should be mindful of our actions, and fight to protect our environment.

(Cross-posted at Blue Jersey and Daily Kos.)

The internet opens up new opportunities to solicit input, debate policy proposals, and raise new ideas. My Twitter Town Hall on Health Care was born out of that sentiment. Now I want to take things one step further by introducing a new way for me to interact with my constituents, Blue Jersey readers, and progressive activists. Using the Google Moderator application and YouTube, I want to hear directly from you, and at the end of each month I’ll make a web video directly answering your questions.

Google Moderator allows me to get input directly from you so that everyone’s voice can be heard. If you happen to like a particular question or suggestion, you can vote for it so it rises to the top and ensure that I address the issue. YouTube offers a different medium than Facebook or Twitter. It allows me to speak directly to you and inform you on the issues facing the 6th Congressional District, New Jersey, and our nation.

The issues will change from month-to-month. I might be seeking input on questions you want asked to a witness testifying in front of my Health Subcommittee. You could want updates on the financial regulation reform and what it will mean to consumers, or what I know about the progress being made in Afghanistan. Some months I’ll ask specifically about your thoughts or questions on a certain topic; other months it will be open-ended.

The end game to this new idea for interaction is to create a more open, transparent dialogue. As a Congressman I serve the people, and want to hear your input. My fight against the special interests and lobbyists is an everyday battle and I want to make sure my most ardent supporters - progressives - have a vehicle to give me their opinions and thoughts. I hope I can count on your participation, and as always, you can follow my tweets @FrankPallone and my updates on Facebook.

(Cross-posted at Daily Kos and Blue Jersey.)

“Now is the time to move on from the politics of health reform to the substance of reform and what it really means to families, small businesses and people throughout the country.

“It means the American people will control their health care decisions, not the insurance industry.

“It means insurance companies can no longer deny coverage because of pre-existing medical conditions, cancel coverage when people get sick, charge more for women or set annual or lifetime caps.

“It means the American people can be secure in the knowledge they will have coverage they can afford, coverage that can’t be lost when they change jobs, coverage that will prevent them from being forced into bankruptcy because of medical bills.

“It means children can stay on their parents’ insurance plan until the age of 26.

“It means seniors can be confident in a Medicare program that is stronger, that will provide rebates to pay for prescription drugs and that will close the infamous donut hole.

“It means everyone will have access to free preventive care that keeps them healthy and catches illnesses before they become serious.

“It means members of Congress will be part of the same insurance program as everyone else.

“It means the country will have a health care system that creates jobs, reduces the national debt and plays a productive role in the economy.

“And, it means that Americans can take pride in a health care system that embodies the best values of a nation that is capable of achieving real change that serves the needs of everyone.”

My position has always been that insurance companies shouldn’t be left to their own rules - nor their own devices. For the past 65 years, the health insurance industry has been operating with special immunity from anti-trust laws. While this exemption may contribute to their profit margins, it’s the patients and doctors who are ultimately forced to pay the price. Enough is enough. In Congress, I’m proud to say that Democrats will soon introduce the Health Insurance Industry Anti-Trust Enforcement Act – to finally ban price fixing, bid rigging and market collusion, once and for all.

Right now, insurance companies continue to rake in record profits, while consumer costs are skyrocketing.  Most states remain dominated by a small number of competing insurance firms.  Here in New Jersey, just two companies control 60% of the market.  Even when states pass laws preventing the exemption, most insurance companies still simply continue to ignore them by citing federal law.  We must stop this double-standard and give patients a fair choice.  By creating more competition, we will lower prices and increase access to  medical treatments that are often denied because they are not profitable for insurance companies to cover.

Healthcare should be about putting people first, not profits.  We must promote a fair playing field in the insurance industry and make certain they operate under the same rules as every other sector.  The sentiment I heard from leading voices in the medical profession was that we need to shine a light on the practices used to set rates.  Currently, federal regulators do not have the power to  investigate anti-competitive tactics used by the industry to control the market, leaving patients and consumers vulnerable to exploitation at the hands of insurance companies and big business.

As President Obama’s health care summit with Congressional leaders approaches, we must not forget the reasons why we began the process of reforming health care in the first place. We must give a voice to those patients being denied much-needed care due to an obsession with profits on the part of fat cat insurance executives.

I hope that the yesterday’s Health Subcommittee hearing will put some of these concerns to rest. Task Force vice-chair Dr. Diana Petitti put it best, explaining that “communication was poor” on the matter, and that their original statement has “been misconstrued.” Most importantly, the hearing clarified that decisions on mammograms for patients between 40 and 50 should be made by women and their doctors, and no one else. Under no circumstances should mammograms be denied to women younger than 50.

However, many opponents of health care reform have stoked the fires of controversy on this issue and are continuing to do so. The most dishonest among them are working hard to mislead the public, implying that the task force recommendations were a product of recent efforts to enact health care reform. They were not. In fact, the task force developed its suggestion while George W. Bush was still in the White House.

My colleague and friend John Dingell of Michigan pointed out these tactics for what they are - scare tactics. Even though the Obama administration was extremely proactive when the task force recommendations were released, affirming that government-backed health programs would not stop covering mammograms for women between the ages of 40 to 49, opponents of health reform have claimed otherwise. In fact, health reform will require mammograms. Now, there are no requirements for mammograms for women at any age. So health reform will make more mammograms available and covered by insurance. And even yesterday, as task force members put our fears to rest, anti-reform Republicans made outlandish statements about reform harming women’s health, when clearly the opposite is true. They are trying to exploit the fears of women about breast cancer in a dishonest attempt to score political points on health reform.

As the health reform debate comes to a close, it’s more important than ever for those of us who believe in real health care reform and a strong public option to be vigilant against the lies and obfuscation of those who would seek to defend the broken status quo. The only way to do that is to ask questions and uncover the truth, just as we did in yesterday’s hearings. The health and safety of American women - our mothers, our sisters, our wives and our daughters - is too important an issue to be turned into political fodder by the opponents of reform.