Jubilee Act Passes the Senate Foreign Relations Committee!
June 24, 2008 | Thanks to your hard work, your meetings, phone calls and emails, today the Jubilee Act Act for Responsible Lending and Expanded Debt Cancellation (HR 2634/ S 2166) passed the Senate Foreign Relations Committee!
CHANGES MADE TO THE SENATE VERSION OF THE BILL. We celebrate the inclusion of the same Haiti Amendment that was included in the House, which calls for the Secretary of the Treasury to work for immediate debt cancellation for Haiti. Stronger language on vulture funds, and a Sense of the Congress that the United States should fully fund its prior commitments to the International Financial Institutions.
WHAT'S NEXT FOR THE JUBILEE ACT. It must now be considered and passed by the full Senate before it can go to the President and be signed into law. First, it will probably go on the Unanimous Consent calendar. Legislative days are so limited that the Senate does not have time to debate and amend everything on the floor. Keep your eye on our website forupdates.
This legislation would expand debt cancellation to impoverished countries that need it to fight poverty, promote responsible lending and require an audit of odious, illegal and onerous loans. The bill passed the House of Representatives by a 285-132 vote on April 16. TAKE ACTION! Contact your Senators and urge them to support the Jubilee Act.
