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Jobs Proposal, Pennsylvania Liquor, and H.R. 1909

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Jobs Proposal, Pennsylvania Liquor, and H.R. 1909

Today in the News

Jobs Proposal

The American Jobs Act will be ineffective, several experts say.

Senior Counsel Hans Bader comments.

"People should take Obama’s claims about 'job creation' with a grain of salt. His earlier claims about creating jobs turned out to be false. The Obama administration said that if the $800 billion stimulus package passed, unemployment would not go above 8 percent, but it actually skyrocketed to 10.3 percent less than a year later."

 

Pennsylvania Liquor

Advocates of privatizing Pennsylvania liquor sales are making headway among state legislators.

Policy Analyst Michelle Minton comments.

"Privatizing Pennsylvania’s liquor stores has been a subject of debate for decades. Proposals in the past have been met with fear about the effects privatization would have on public safety and skepticism about the need for change. Most recently, Rep. Michael Turzai, Pennsylvania’s House majority leader, introduced a bill that would sell of state-owned liquor stores and provide more licenses for private businesses to retail liquor and wine and this time it looks like the proposal might have a chance."

 

H.R. 1909

H.R. 1909 is a bipartisan bill recently introduced to reform the small loan market.

Director of the Center for Investors and Entrepreneurs John Berlau comments.

"H.R. 1909, the FFSCC Charter Act of 2011, would create an optional charter from the Comptroller of the Currency for nonbank lenders who choose to be designated as 'Federal Financial Services and Credit Companies.' It is sponsored by Joe Baca (D-Calif.), with cosponsors Jean Schmidt (R-Ohio), Gregory Meeks (D-N.Y.), and Albio Sires (D-N.J.). The bill addresses a vital need for access to credit for both lower and middle-income Americans. 'Microfinance' is a hot topic in the academic and policy world. [...] Yet providers of microcredit in America — payday lenders, pawn shops, etc. — are looked on by many policy elites with scorn. And even when these lenders are subject to legitimate criticism, frequently no one details how to remove barriers to creating an alternative in the lending market."