After a 7-week long filibuster of unemployment benefits in the United States Senate, Congressman Ted Deutch (FL-19) voted to restore unemployment benefits for 2.5 million Americans. Unemployment benefits provide a critical lifeline in a time of desperation for families unable to find work and struggling to keep up with mortgage payments, grocery bills, homeowners’ insurance premiums, and other expenses. “Today, a nightmare ends for 2.5 million Americans who earned unemployment benefits while wor... Read more

Congressman Deutch Hails Passage of Wall Street Reform Washington, DC – Congressman Ted Deutch (FL-19) released the following statement after final passage of Wall Street reform by the United States Senate: “Nearly two years ago, 8 million American jobs vanished. $17 trillion in retirement savings and net worth evaporated. Millions of families lost their homes, and small businesses closed their doors. These tragedies did not happen by accident. For eight years, the Bush Administration and its allies in Congress turned a blind eye as recklessness on Wall Street ran rampant. “While no legislation can bring each of those jobs back or cure the pain caused by this recession, today the United States Congress passed the most important consumer protection and financial regulation reform in decades. Sending the Dodd-Frank Wall Street Reform and Consumer Protection Act to President Obama’s desk is the most significant step taken by Congress thus far to protect the American people from another financial meltdown. This bill will help prevent the irresponsible behavior that led to the financial crisis and prevent banks and firms that are too big to fail -- from gambling with Americans’ retirement savings, home values, and credit. “No longer will taxpayers be on the hook for bailing out large financial firms whose collapse would put the entire economy at risk. Instead, we will have an established process for shutting down firms in trouble. In addition, Americans will have a watchdog in the new Consumer Financial Protection Bureau exclusively devoted to protecting consumers from abusive financial practices. “A stable financial system is crucial to fostering job creation, providing small businesses with adequate access to credit, and fueling a long-lasting economic recovery. I look forward to President Obama’s signing of this bill and will be closely monitoring the enactment of its many important provisions.” Read more

"Obstructing the extension of unemployment benefits endangers our economic recovery," said Congressman Deutch. "Businesses are struggling amid low consumer demand, putting more jobs at risk in an already fragile economy. Unemployment benefits do more than keep jobless workers afloat during tough times. Those families spend these dollars immediately on goods and services, which helps businesses and ultimately provides our economy with a much needed stimulus." Read more

In Florida, if you want to buy a home, you must have federal flood insurance. Without the availability of federal flood insurance, in Florida, for the entire month of June, the real estate market has come to a screeching halt. Families can’t buy or sell their homes; small businesses cannot open new stores. Understanding how vital the federal flood insurance program is to states like Florida, this body did the right thing by included an extension for this program in the American Jobs and Closing Tax Loopholes Act. Unfortunately, that bill – like so many other critical pieces of legislation – fell victim to Republican obstructionism and met its untimely death in the United States Senate. Read more