|
Dear Friend,
I'm back home in eastern Connecticut after a busy week in Congress. Here with an update on the AUKUS security agreement, the student loan payment and interest accrual resumption, and more. Thanks for starting your weekend here with me.
On the Second Anniversary of the AUKUS Agreement, Record Hiring Continues at Electric Boat
Today marks the two-year anniversary of the historic AUKUS security agreement between the US, the United Kingdom, and Australia. The announcement of AUKUS in September 2021 began a bold path between great allies to ensure peace at home and a free and open Indo-Pacific region. At the center of the commitment is to sell nuclear-powered and conventionally armed submarines by the earliest possible date to our Australian allies. For southeastern Connecticut, that means more work and Electric Boat is meeting the moment.
In the first eight months of this year, EB has hired 4,000 new workers. That’s more than the total number of hires for all of 2022 and puts them well on track to meet their record-high goal of 5,750 new hires in 2023. On Tuesday, I spoke on the House floor to highlight this record growth and how it will ensure the success of our security agreement with our great allies – Australia and the UK. Click below to watch.
In Congress, I’ve worked in a bipartisan fashion as a member of House Armed Services Committee and Co-Chair of the AUKUS Working Group to fulfill the AUKUS mission by investing record amounts in our submarine industrial base, championing legislation to clear roadblocks, and ensuring Australian sailors can come to the US to learn how to operate and steward nuclear powered submarines.
These efforts are already paying dividends, as shown by the record hiring rates at EB and the recent graduation of Australian sailors from Nuclear Power Training School in South Carolina, which was headline news in Australia and broadcast by its major television outlets television outlets.
Now, it’s time for Congress to redouble our efforts to achieve the AUKUS mission and ensure both our Navy and our allies are prepared to deter rising security challenges in the Indo-Pacific.
Congress Needs to Act to Reduce Consequences of Student Loan Payment 'Snap Back'
With the advent of Labor Day 2023, observed by many with the last cookouts of the summer, also came an unwelcome milestone for family budgets, the resumption of interest accumulation for federal student loans – the predominate lending plan for existing college students and graduates. Student loan interest and principal payments have been paused for over three-and-a-half years, since March 2020 at the onset of the COVID-19 pandemic. The pause was originally passed by bipartisan legislation and extended numerous times by President Trump, President Biden, and bipartisan budget bills. That respite officially ended as part of the recently enacted debt ceiling law.
The accrual of interest started September 1, 2023 (Happy Labor Day!), and the resumption of payments will begin October 1, 2023.
Currently, there are 43 million borrowers owing a total of $1.7 trillion in student loans. There's a pressing need for Congress to act on a bipartisan basis to reduce the consequences the impending 'snap back' to payments will have for our nation’s economy and for individual borrowers and their families. I’ve introduced the Student Loan Interest Elimination Act alongside Senator Peter Welch which would virtually eliminate interest on federal student loans for current and future borrowers.
Last week, I joined student loan borrowers and experts at Eastern Connecticut State University for a roundtable discussion on the bill.
 |
| Rep. Courtney was joined at the roundtable discussion on student loans by (left to right) ECSU 2023 Graduate & borrower Grace Carlos, Law School Graduate & borrower Lorraine Galvis, ECSU Dr. Elsa Nunez, President American Association of Colleges and Universities Lynn Pasquerella, and President of the Hildreth Institute Robert Hildreth |
When the federal students loan program was created in 1965, it was never intended to generate revenue for the federal government. Instead, the intent was to help aspiring college students coming from low-income families qualify for a loan to pay for their education. Now, as will become very clear when payments resume on October 1st, federal student loan borrowers have been put on a hamster wheel where, because of interest accumulation, more will see their debt increasing rather than decreasing as we saw for years prior to 2020 payment pause. Realtors across the country warn that these high interest loans are a barrier to home ownership, particularly for young, first time home buyers.
Crucially, the Student Loan Interest Elimination Act includes a “pay-for” which would alleviate the burden for American taxpayers. Borrowers’ principal-only payments would be deposited in a Revolving Trust Fund where it would be where it would be invested in low-risk securities. The gains on those investments would be used to defray the costs of the student loan program – all at no cost to taxpayers. This bill has been endorsed by national medical groups whose professional members face sky high interest rates.
The U.S. Department of Education is doing what it can within its authority to soften the blow of the loan payment resumption, including increasing eligibility for the Income Driven Repayment (IDR) program. Despite this welcomed relief, Congress must act to mitigate the student loan payment ‘snap back’. Eliminating the cancer of interest on federal student loans is an intelligent, balanced response to this imminent threat.
For resources on support with federal student loan payments currently available through the Department of Education, click here.
22 Years After the September 11th Attacks, Preparing First Responders Remains a Top Priority
This Monday marked 22 years since the September 11th, 2001 attacks. We must faithfully honor the 2,977 innocent lives lost and the bravery and sacrifice of first responders who rushed toward danger. Connecticut firefighters and medical staff responded heroically on that day, joining the rescue effort in the months and years after. We should honor their dutiful work as well.
One of the lessons learned from the September 11th attacks was that improvements were critically needed to prepare firefighters to respond to emergencies and new threats from large disasters. In response, Congress created the Assistance to Firefighters grant program to provide direct federal support to fire stations across the country. As a member of the bipartisan Congressional Fire Caucus, I’ve worked to increase funding to the program and support eastern Connecticut stations in receiving the grants.
 |
| Rep. Courtney meets with Chief David Deskis and the firefighters of Thompsonville Fire Department to discuss a federal Assistance to Firefighters grant the station recently received |
On Monday, I visited the Thompsonville Fire Department to meet with Chief David Deskis and his hardworking team of firefighters. The station received an over $70K Assistance to Firefighters grant last month, and Chief Deskis shared they’ll use it to purchase new firefighter personal escape devices and upgrade thermal imaging equipment – which allows firefighters to see through smoke and identify lifeforms in close spaces. These are key improvements to firefighter safety, and examples of how the Assistance to Firefighters grant program helps ensure firefighters are as prepared and protected as possible when rushing to save lives.
Fire stations across the Second District have received federal funding to stay prepared. In this recent round of grants, the Scotland Volunteer Fire Department received $342K through the Staffing for Adequate Fire Emergency Response (SAFER) grant program for recruitment and retention, and the New London Fire Department received over $18K through the Fire Prevention and Safety grant program for smoke and CO2 detector installation.
Visiting Access Agency to Discuss Federally-Funded Services
Last week, I visited Access Agency’s office in Willimantic to hear how federal funding, including from the American Rescue Plan, has supported their services and programs which help northeastern Connecticut families meet basic needs like food, housing, and employment support services. Access Agency received $425K from the American Rescue Plan for direct support to local families through its Community Assistance Fund. The funding allows the Agency to help workers and families cover the cost of rent, transportation to get to work, and other essential needs that help them stay in their home and job. Vice President and Chief Program Officer Emma King tells me that, since October 2022, the Agency has provided over $245K to clients. As cold weather approaches however, the challenge of keeping residents warm looms large. Increasing LIHEAP is a big priority that I will be pushing for in upcoming budget talks.
The health and social services workforce has faced capacity challenges to meet community needs. Thanks to another $7 million in federal funding, Access Agency will be able to train staff members to serve as community health workers in senior homes and food pantries – ultimately expanding their reach and capacity to support clients. Thank you to CEO Peter DeBiasi, VP and Chief Program Officer Emma King and Access Agency’s devoted staff for updating me on their vital work at both their Willimantic and Danielson offices. Whether it’s childcare, housing assistance, food pantries, or other support for families and workers, Access Agency has a significant benefit on the health and wellbeing of our communities.
A New PACT Act Deadline for Post 9/11 Veterans
Since the Honoring Our PACT Act became law just over one year ago, over 2,300 veterans in Connecticut have enrolled in VA health care for the first time. Currently, combat veterans who left service between 9/11/2001 and 10/1/2013 can enroll directly in VA health care without first applying for benefits. This open enrollment period ends on September 30th.
While there is no deadline to enroll for VA health benefits, I encourage veterans to take advantage of this special enrollment window as soon as possible. Visit VA.gov/PACT to enroll today.
Thank you for taking some time to read my update. If we can be of any assistance, don't hesitate to give my Norwich office a call at (860) 886-0139. Have a great weekend!
Sincerely,
Joe Courtney
Member of Congress
|
