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Notes and Analysis
FEDERAL
BERNANKE SUPPORTS FISCAL STIMULUS
Federal Reserve Chairman Ben Bernanke testified before
Congress today and gave his support for a fiscal stimulus
package. He stated that monetary policy is amongst the available
tools for stimulating growth. Chairman Bernanke reiterated that
any stimulus should be applied quickly. While discussing the
infusion of liquidity that the Federal Reserve's discount window
and Term Auction Facilities, Chairman Bernanke stated that
monetary policy was the Federal Reserve's best tool for providing
stimulus.
PELOSI SEEKS TARGETED, TIMELY STIMULUS PLAN
During an interview today with CNBC's John Harwood, House
Speaker Nancy Pelosi (D-Ca), stated that she endorses a
targeted, bi-partisan, timely fiscal package for stimulating the
American economy. She added that the package should not be
one that makes the deficit worse and that incentives for business
may be part of the package. She also stated that making
President Bush's tax cuts permanent did not meet the standard of
a stimulus since permanent tax cuts are not targeted or timely. In
terms of long-term tax relief, this relief should be paid for, said
Speaker Pelosi. Speaker Pelosi did not elaborate on how long
term tax relief should be paid for, however.
MARYLAND
HOUSE BILL PROPOSES CHANGE IN MINIMUM WAGE FOR
STATE CONTRACTS
A house bill, HB 106, has been introduced that specifies a one
minimum wage rate for contractors and sub-contractors receiving
state contracts. The minimum wage would apply to all areas of
the state and would repeal current minimum wage requirements
that apply to specific locations within the state.
The bill has been assigned to the Economic Matters committee. If
passed, it will take effect October 1, 2008.
HOUSE BILL PROPOSES REQUIRING WIRELESS CARRIERS
NOTICE SUBSCRIBERS OF CHANGES IN RATES, CONDITIONS
A house bill, HB 110, has been introduced that requires wireless
providers send writeen notice to residential customers after
changes in rates, terms, and conditions
SENATE BILL PROPOSES STUDYING TITLE INSURANCE
INDUSTRY
A Senate bill proposing the study of Maryland's title insurance
industry has been filed. The bill, SB61, has not yet been set for
review by committee.
Copyright@Alton Drew LLC 2008
Overview
Alton Drew LLC provides corporate and individual
clients with expert legal, economic, and political
analysis of government actions impacting
commercial, business, and investor affairs.
Areas of analysis include financial markets,
consumer economics, real estate, consumer
finance, and taxation.
Alton Drew LLC also provides, as a debt relief
agency, bankruptcy services for small
businesses and individuals.
Alton Drew LLC provides corporate and individual
clients with expert legal, economic, and political
analysis of government actions impacting
commercial, business, and investor affairs.
Areas of analysis include financial markets,
consumer economics, real estate, consumer
finance, and taxation.
Alton Drew LLC also provides, as a debt relief
agency, bankruptcy services for small
businesses and individuals.
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