WASHINGTON, D.C. - Senator Tom Harkin (D-IA) today issued the following statement after President Obama nominated Jim Yong Kim, an American physician and the current president of Dartmouth College, to lead the World Bank.  Dr. Kim spent much of his childhood in Muscatine, Iowa.

"This son of Iowa recognizes the significance of quality health care, the importance of increasing access to care, and its impact on the global economy.  His nomination comes on an important day - the second anniversary of the Affordable Care Act.  Dr. Kim has distinguished himself as one of the great thinkers of our time and I congratulate him on his nomination today."


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WASHINGTON, D.C. - Senator Tom Harkin (D-IA) today announced that the U.S. Department of Housing and Urban Development (HUD) has awarded Iowa a total of $101,056 in grants under the Housing Counseling Program.  The funds will go toward counseling services to homebuyers, homeowners, low-to-moderate-income renters, and the homeless to expand homeownership and improve access to affordable housing.  Harkin is a senior member of the Appropriations subcommittee that funds HUD.

"Quality, affordable housing is a necessity and any funds that can go toward expanding access to it is money well-spent," said Harkin.  "I congratulate all of these recipients on this competitive funding and look forward to the improvements it will generate."

The funding was awarded as follows:

Center for Siouxland - $25,000
Eastern Iowa Regional Housing Authority - $24,465
Home Opportunities Made Easy, Inc. (HOME, Inc.) - $28,014
United Neighbors, Inc. - $23,577

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DES MOINES, IOWA - U.S. Senator Tom Harkin (D-Iowa) today announced that his office is accepting applications for nominations to the United States' military academies for the class entering in the summer of 2013.  Senator Harkin will nominate up to ten Iowans for every opening at each academy, with final selection for admission made by the individual academy.  

"Each year, I look forward to recommending outstanding young Iowans to the service academies.  It is a genuine honor," Harkin said.

Our nation's military academies offer Iowans outstanding educational opportunities for young people interested in military service.  Students can specialize in a variety of fields at the U.S. Military Academy at West Point, the U.S. Naval Academy at Annapolis, the Air Force Academy at Colorado Springs and the Merchant Marine Academy at Kings Point.

Senator Harkin also enjoyed a successful military career, having joined the Navy and served as a jet pilot after graduating from Iowa State University in 1962.

High school guidance counselors across the state have information about the application procedures prospective candidates must follow.  Senator Harkin uses a competitive method to screen applicants, including the evaluation of ACT or SAT scores, high school grade point average, leadership abilities, and physical aptitude.  Harkin has also appointed an academy selection committee that conducts personal interviews with academy finalists.

Interested individuals should complete Senator Harkin's Service Academy Nomination application which can be found on his website, harkin.senate.gov.   Any additional questions should be directed to his Academy Nomination Coordinator, Tom Larkin, at 319-365-4504.

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February 7, 2012 - WASHINGTON D.C.-Senator Tom Harkin (D-IA) today announced that the U.S. Department of Housing and Urban Development's (HUD) Fair Housing Assistance Program (FHAP) has awarded $422,622 to seven Iowa cities. FHAP aims to assist state and local agencies that administer fair housing laws. The assistance includes support for complaint processing, training, technical assistance, data and information systems, and other fair housing projects. The program is also designed to provide incentives for states and localities to assume a greater share of the responsibility for administering fair housing laws. Senator Harkin is a senior member of the Appropriations subcommittee that funds HUD.

"Quality, affordable housing is one of our most basic needs," said Harkin.  "I am pleased the federal government is providing funding to Iowa cities that will allow each of them to take responsibility for fair housing laws and projects in their communities."

Details of the funding are as followings:
Cedar Rapids Civil Rights Commission-$100,000
Davenport Civil Rights Commission-$64,285
Des Moines Human Rights Department-$44,680
Iowa Civil Rights Commission-$37,200
Mason City Human Rights Commission-$86,802
Sioux City Human Rights Commission-$23,655
Waterloo Commission on Human Rights-$66,000

Congressman Loebsack, area residents, others to testify

WASHINGTON, D.C.–On Friday, January 27, Senator Tom Harkin (D-IA), Chairman of the Senate Health, Education, Labor and Pensions Committee, will convene a field hearing of the Committee to discuss ways to rebuild the middle class.  Congressman Dave Loebsack will join Harkin as part of the hearing.

"For decades, the middle class has been  falling behind," said Harkin.  "Wages have not kept up with costs, and families' savings accounts have dried up along with home values and good jobs. Iowans are justifiably worried about the future.

"It does not have to be this way.  It is time to rise to these challenges and face them head-on, as a nation, by remembering what made our country great. Creating good jobs, investing in education, rebuilding our infrastructure, and preparing our workforce for the 21st Century will help to ensure that the middle class has a bright future ahead, in Iowa and around the country."

Harkin has held a series of hearings in Washington over the past year examining the causes behind the decline of America's middle class.  Last year, Harkin staff members visited all 99 counties to gather insight into the challenges facing middle class families.  This field hearing will focus on what is working in the Quad Cities to rebuild the backbone of America's economy.

HEARING: "Rebuilding the Middle Class: What Washington can learn from Iowa"

WITNESSES:
Panel I
Hon. Dave Loebsack, United States Congressman, Second Congressional District, Iowa
Panel II
Bob Allbee, Interim President, Muscatine Community College, Muscatine, IA
Skip McGill, President, United Steel Workers Local 105, Bettendorf, IA
Robert J. Fox, a Davenport resident working to maintain a middle class lifestyle for his family

DATE: Friday, January 27, 2012

TIME:

12:15 PM: Tour: Prior to the hearing, Harkin and Loebsack will tour the welding room at the Blong Center, which houses a partnership between John Deere, the local schools, and workers.

1:15 PM: Hearing begins

PLACE: John T. Blong Tech Center?, 8500 Hillandale Road, Davenport

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Congressman Loebsack, area residents, others to testify

WASHINGTON, D.C.–On Friday, January 27, Senator Tom Harkin (D-IA), Chairman of the Senate Health, Education, Labor and Pensions Committee, will convene a field hearing of the Committee to discuss ways to rebuild the middle class.  Congressman Dave Loebsack will join Harkin as part of the hearing.

"For decades, the middle class has been  falling behind," said Harkin.  "Wages have not kept up with costs, and families' savings accounts have dried up along with home values and good jobs. Iowans are justifiably worried about the future.

"It does not have to be this way.  It is time to rise to these challenges and face them head-on, as a nation, by remembering what made our country great. Creating good jobs, investing in education, rebuilding our infrastructure, and preparing our workforce for the 21st Century will help to ensure that the middle class has a bright future ahead, in Iowa and around the country."

Harkin has held a series of hearings in Washington over the past year examining the causes behind the decline of America's middle class.  Last year, Harkin staff members visited all 99 counties to gather insight into the challenges facing middle class families.  This field hearing will focus on what is working in the Quad Cities to rebuild the backbone of America's economy.

HEARING: "Rebuilding the Middle Class: What Washington can learn from Iowa"

DATE: Friday, January 27, 2012

TIME:

12:15 PM: Tour: Prior to the hearing, Harkin and Loebsack will tour the welding room at the Blong Center, which houses a partnership between John Deere, the local schools, and workers.

1:15 PM: Hearing begins

PLACE: John T. Blong Tech Center?, 8500 Hillandale Road, Davenport

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WASHINGTON, D.C. -- Senator Tom Harkin (D-IA) today nominated 42 Iowa students for appointments to the U.S. Air Force Academy, Naval Academy, Merchant Marine Academy and Military Academy, West Point for the 2012 classes.  

"I would like to congratulate these students for their many outstanding achievements," Harkin said. "An academy nomination is a great honor because of the intense competition for these nominations across the state of Iowa."

In a typical year, Harkin receives more than 150 applications from young Iowans interested in pursuing a career as a military officer.   Students apply for admission to the U.S. Military Academy at West Point, New York; the U.S. Naval Academy at Annapolis, Maryland; the U.S. Air Force Academy at Colorado Springs, Colorado; or the Merchant Marine Academy at Kings Point, New York.

Academy nomination finalists are interviewed by Senator Harkin's Academy Selection Board, during which time their motivation, poise and self-expression are measured.  Harkin may nominate up to ten applicants to compete for each available vacancy.  From the Senator's nominees, the academy then selects the final candidate who will be offered an appointment.  

"In order for an individual to be nominated, he or she must demonstrate superior leadership, academic and athletic abilities," Harkin said.  "Nominees also must exhibit the necessary motivation for serving in the demanding role of a career military officer and be of outstanding moral character."  

After March 1, 2012, men and women between the ages of 17 and 22 who are interested in pursuing a nomination to one of the academies for the class entering in 2013, should go to http://harkin.senate.gov/ and complete Senator Harkin's online Service Academy application, or they may contact Senator Harkin's Cedar Rapids Office at (319) 365-4504.  

A list of this year's nominees is below.


Afton
Austin Bolinger has been nominated to the U.S. Air Force Academy. Austin is the son of Amanda and Clint Bolinger and is a senior at Creston High School.

Ainsworth
Jesse Hahn has been nominated to the U.S. Merchant Marine Academy. Jesse is the son of Teresa and Ted Hahn and is a senior at Highland Community High School.

Ankeny
Brett Deters has been nominated to the U.S. Naval Academy. Brett is the son of Karen Deters and Victor Vera and is a senior at Ankeny High School.

Ankeny
Logan Braadt has been nominated to the U.S. Naval Academy. Logan is the son of Kathy Amos and Walter Braadt and is a senior at Ankeny High School.

Argle
Richard Wilkerson has been nominated to the U.S. Merchant Marine Academy. Richard is the son of Stephanie Anderson and Randy Wilkerson and is a senior at Central Lee High School.

Bellevue
Dylan Meek has been nominated to the U.S. Naval Academy. Dylan is the son of Tracy Meek and Phillip Meek and is a senior at Bellevue High School.

Bettendorf
Samuel Kuznetsov has been nominated to the U.S. Miltary Academy. Samuel is the son of Danielle and Alexei Kusnetsov and is a senior at Bettendorf High School.

Bettendorf
Andrew Peterman has been nominated to the U.S. Naval Academy. Andrew is the son of George Peterman and Carolyn and a graduate of Bettendorf High School.  He is currently attending Greystone Preparatory School in Kerrville, TX.

Bettendorf
Matthew Miller has been nominated to the U.S. Miltary Academy. Matthew is the son of Kathryn and Marc Miller and is a senior at Bettendorf High School.

Cedar Falls
Ryan Giarusso has been nominated to the U.S. Air Force Academy. Ryan is the son of Deborah and Richard Giarusso and is a senior at Cedar Falls High School.

Cedar Falls
Nicholas Heth has been nominated to the U.S. Naval Academy. Nicholas is the son of Carol and Steve Heth and is a senior at Cedar Falls High School.

Clarion
Wyatt Sann has been nominated to the U.S. Miltary Academy. Wyatt is the son of Patricia Stockman-Sann and Dwight Sann and is a senior at Clarion Goldfield High School.

Clinton
Matt Truninger has been nominated to the U.S. Naval Academy. Matt is the son of Gina and Mark Truninger and is a senior at Northeast High School.

Clive
Stephen Sanburn has been nominated to the U.S. Air Force Academy. Stephen is the son of Lisa and Daniel Sanburn and is a senior at Waukee High School.

Clive
Jack Oberman has been nominated to the U.S. Naval Academy. Jack is the son of Karen and Tony Oberman and is a senior at Waukee High School.

Davenport
Daniel Sullivan has been nominated to the U.S. Air Force Academy. Daniel is the son of Jane and Richard Sullivan and is a senior at Bettendorf High School.

Davenport
Noah Jones has been nominated to the U.S. Naval Academy. Noah is the son of Julie and Todd Jones and is a senior at West High School.

Dubuque
Daniel Eichman has been nominated to the U.S. Air Force Academy. Daniel is the son of Choon and Bruce Eichman and is a graduate of Dulwich College - Bejing High School.

Dunkerton
Daniel Rigdon has been nominated to the U.S. Miltary Academy. Daniel is the son of Bommoe Sadler and Daniel Rigdon and is a senior at Dunkerton High School.

Earlham
Aloysius Tekippe has been nominated to the U.S. Miltary Academy. Aloysius is the son of Krista and Ronald Tekippe and is a senior at Earlham High School.

Glidden
Daniel Van Horn has been nominated to the U.S. Naval Academy. Daniel is the son of Cynthia and John Van Horn and is a senior at Gidden Ralston High School.

Granville
Collin Ascherl has been nominated to the U.S. Naval Academy. Collin is the son of Donna and Joe Ascherl and is a senior at MOC-Floyd Valley High School.

Grimes
Nathaniel Dyett has been nominated to the U.S. Miltary Academy. Nathaniel is the son of Laura and Jaswick Dyett and is a senior at Johnston High School.

Hamburg
Colby McGinley has been nominated to the U.S. Air Force Academy. Colby is the son of Sarah McGinley and Rodney McGinley and is a senior at Lourdes Central High School.

Hinton
Matthew Veach has been nominated to the U.S. Naval Academy. Matthew is the son of Jeana and Gerald Veach and is a senior at Hinton High School.

Hornick
Hanna Hubert has been nominated to the U.S. Naval Academy. Hanna is the daughter of Carla and Joel Hubert and is a senior at Woodbury Central High School.

Hubbard
Felix Knutson has been nominated to the U.S. Air Force Academy. Felix is the son of Danielle and Dallas Knutson and is home schooled.

Iowa City
Jindalae Suh has been nominated to the U.S. Miltary Academy. Jindalae is the daughter of Laura Crow and DaeHong Suh and is a senior at City High School.

Maquoketa
Isaac Kinrade has been nominated to the U.S. Naval Academy. Isaac is the son of Julia and Steven Kinrade and is a senior at Maquoketa High School.

Marion
Justin Fenske has been nominated to the U.S. Naval Academy. Justin is the son of Linda and James Fenske and is a senior at Xavier High School.

Mason City
Travis Mallo has been nominated to the U.S. Miltary Academy. Travis is the son of Wendy and Larry Mallo and is a senior at Mason City High School.

Mount Pleasant
Jackson Bell has been nominated to the U.S. Air Force Academy and to the U.S. Naval Academy. Jackson is the son of Martha and Richard Bell and is a senior at Mt. Pleasant High School.

Norwalk
Alec La Velle has been nominated to the U.S. Miltary Academy. Alec is the son of Nancy and Michael La Velle and is a senior at Norwalk High School.

Oelwein
Sean Steil has been nominated to the U.S. Naval Academy. Sean is the son of Karla  and John Steil and is a senior at Wapsie Valley High School.

Orange City
William Guthmiller has been nominated to the U.S. Air Force Academy. William is the son of Tamara and Martin Guthmiller and is a senior at MOC -Floyd Valley High School.

Ottosen
Adam Wachholz has been nominated to the U.S. Air Force Academy. Adam is the son of Cindi and James Wachholz and is home schooled.   

Paton
Chantel Blair has been nominated to the U.S. Merchant Marine Academy. Chantel is the daughter of Jackie Blair and Ricky Price and is a senior at Jefferson-Scranton High School.

Sioux City
Tyler Reiser has been nominated to the U.S. Naval Academy. Tyler is the son of Lisa and Gene Reiser and is a senior at East High School.

Story City
Christopher Morgan has been nominated to the U.S. Naval Academy. Christopher is the son of Rose and Keith Morgan and is a senior at Roland- Story High School.

Tabor
James Saker has been nominated to the U.S. Miltary Academy. James is the son of Susan and Jamie Saker and is a senior at Fremont-Mills Sr. High School.

Waterloo
Andrew Foster has been nominated to the U.S. Naval Academy. Andrew is the son of Patricia and Craig Foster and is a graduate of West High School.  He is currently attending Ohio State University in Columbus Ohio.

West Des Moines
Haley Wireman has been nominated to the U.S. Naval Academy. Haley is the daughter of Joi and Richard Wireman and is a senior at Valley High School.

MEMO

To: Financial Writers
From: Kate Cyrul for Senator Tom Harkin (D-IA); Jen Gilbreath for Congressman DeFazio (D-OR)
Re: Harkin, DeFazio Wall Street Trading and Speculators Tax Cited in Krugman Column on Ways to Reduce the Deficit
Date: Monday, November 28, 2011

In case you missed it, Senator Harkin and Congressman DeFazio's Wall Street Trading and Speculators Tax was cited in today's column by Paul Krugman entitled "Things to Tax."  Analysis conducted by the Joint Committee on Taxation found that the Wall Street Trading and Speculators Tax Act will raise $352 billion over the time period of January 2013 through 2021.  The Joint Tax Committee also estimated that the Act raises $218.6 billion in the last 5 years, on average over $43 billion per year.

For more information, please contact Kate Cyrul at (202) 224-3254 or visit http://harkin.senate.gov/ or Jen Gilbreath at (202) 731-0063 or visit http://www.defazio.house.gov/.

The New York Times

The Opinion Pages

 

November 28, 2011

Things to Tax

By PAUL KRUGMAN

The supercommittee was a superdud ? and we should be glad. Nonetheless, at some point we'll have to rein in budget deficits. And when we do, here's a thought: How about making increased revenue an important part of the deal?

And I don't just mean a return to Clinton-era tax rates. Why should 1990s taxes be considered the outer limit of revenue collection? Think about it: The long-run budget outlook has darkened, which means that some hard choices must be made. Why should those choices only involve spending cuts? Why not also push some taxes above their levels in the 1990s?

Let me suggest two areas in which it would make a lot of sense to raise taxes in earnest, not just return them to pre-Bush levels: taxes on very high incomes and taxes on financial transactions.

About those high incomes: In my last column I suggested that the very rich, who have had huge income gains over the last 30 years, should pay more in taxes. I got many responses from readers, with a common theme being that this was silly, that even confiscatory taxes on the wealthy couldn't possibly raise enough money to matter.

Folks, you're living in the past. Once upon a time America was a middle-class nation, in which the super-elite's income was no big deal. But that was another country.

The I.R.S. reports that in 2007, that is, before the economic crisis, the top 0.1 percent of taxpayers ? roughly speaking, people with annual incomes over $2 million ? had a combined income of more than a trillion dollars. That's a lot of money, and it wouldn't be hard to devise taxes that would raise a significant amount of revenue from those super-high-income individuals.

For example, a recent report by the nonpartisan Tax Policy Center points out that before 1980 very-high-income individuals fell into tax brackets well above the 35 percent top rate that applies today. According to the center's analysis, restoring those high-income brackets would have raised $78 billion in 2007, or more than half a percent of G.D.P. I've extrapolated that number using Congressional Budget Office projections, and what I get for the next decade is that high-income taxation could shave more than $1 trillion off the deficit.

It's instructive to compare that estimate with the savings from the kinds of proposals that are actually circulating in Washington these days. Consider, for example, proposals to raise the age of Medicare eligibility to 67, dealing a major blow to millions of Americans. How much money would that save?

Well, none from the point of view of the nation as a whole, since we would be pushing seniors out of Medicare and into private insurance, which has substantially higher costs. True, it would reduce federal spending ? but not by much. The budget office estimates that outlays would fall by only $125 billion over the next decade, as the age increase phased in. And even when fully phased in, this partial dismantling of Medicare would reduce the deficit only about a third as much as could be achieved with higher taxes on the very rich.

So raising taxes on the very rich could make a serious contribution to deficit reduction. Don't believe anyone who claims otherwise.

And then there's the idea of taxing financial transactions, which have exploded in recent decades. The economic value of all this trading is dubious at best. In fact, there's considerable evidence suggesting that too much trading is going on. Still, nobody is proposing a punitive tax. On the table, instead, are proposals like the one recently made by Senator Tom Harkin and Representative Peter DeFazio for a tiny fee on financial transactions.

And here's the thing: Because there are so many transactions, such a fee could yield several hundred billion dollars in revenue over the next decade. Again, this compares favorably with the savings from many of the harsh spending cuts being proposed in the name of fiscal responsibility.

But wouldn't such a tax hurt economic growth? As I said, the evidence suggests not ? if anything, it suggests that to the extent that taxing financial transactions reduces the volume of wheeling and dealing, that would be a good thing.

And it's instructive, too, to note that some countries already have financial transactions taxes ? and that among those who do are Hong Kong and Singapore. If some conservative starts claiming that such taxes are an unwarranted government intrusion, you might want to ask him why such taxes are imposed by the two countries that score highest on the Heritage Foundation's Index of Economic Freedom.

Now, the tax ideas I've just mentioned wouldn't be enough, by themselves, to fix our deficit. But the same is true of proposals for spending cuts. The point I'm making here isn't that taxes are all we need; it is that they could and should be a significant part of the solution.


Tuesday, November 15, 2011

With a deadline looming for the deficit reduction committee, lawmakers supporting The Wall Street Trading and Speculators Tax have sent a letter to the committee urging them to adopt their proposal.  The lawmakers, led by Senator Tom Harkin (D-IA) and Congressman Peter DeFazio (D-OR), outlined the revenue generating impact of their bill.  Analysis conducted by the Joint Committee on Taxation found that the Wall Street Trading and Speculators Tax Act introduced earlier this month will raise $352 billion over the time period of January 2013 through 2021. The Joint Tax Committee also estimated that the Act raises $218.6 billion in the last 5 years, on average over $43 billion per year.

"As you work to craft a comprehensive deficit reduction plan, we believe you should incorporate reasonable spending cuts and ask the wealthiest Americans and most profitable corporations to pay their fair share. However, we understand through media reports and talking to our colleagues that revenue options remain the largest challenge in your negotiations to obtain significant deficit reduction. We believe we have a viable revenue option that deserves serious consideration," wrote the lawmakers. "Given the extraordinary profitability of Wall Street banks while the rest of the economy is suffering, there is no question that Wall Street can easily bear this modest tax. In fact, while Wall Street lobbyists will express great concern with our proposal, they will not tell you that the European Union is considering a similar proposal, but with a tax rate that is more than three times higher."

The Wall Street Trading and Speculators Tax places a small tax of three basis points (3 pennies on $100 in value) on most non-consumer financial trading including stocks, bonds and other debts, except for their initial issuance.  For example, if a company receives a loan from a financial company, that transaction would not be taxed.  But, if the financial institution traded the debt, the trade would be subject to the tax.  The tax would also cover all derivative contracts, options, forward contracts, swaps and other complex instruments at their actual cost.  The measure excludes debt that has an original term of less than 100 days.  

The full text of the letter can be found here.
WASHINGTON, D.C. - Senator Tom Harkin (D-IA) today issued the following statement upon learning that the Social Security Administration announced a 3.6 percent increase in benefits next year.  Harkin has been supportive of efforts in Congress to provide additional support to beneficiaries.

"Seniors in Iowa and around the country have seen the price of everything rise - from a gallon of gas to a gallon of milk to the costs of their prescription drugs.  This increase in their Social Security benefits will help bridge the gap between these rising costs and the benefits seniors so rightly deserve.  It also reminds us of the vital importance of Social Security to American seniors.  We must do all that we can to keep our promise to them by maintaining and strengthening Social Security for today's seniors and generations to come."

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