Chairman of the Congressional Urban Caucus Supports Mayors in Pursuit of Bailout Funds.WASHINGTON -- The Chairman of the Congressional Urban Caucus, Congressman Chaka Fattah Chaka Fattah (born Arthur Davenport on November 21 1956 in Philadelphia, Pennsylvania), has served as a Democratic member of the United States House of Representatives since 1994, representing the 2nd congressional district of Pennsylvania (map), which includes North (D-PA), supports the idea that funds from the Troubled Asset Relief Program passed by Congress last month be directed to financially ailing cities. "No one is immune to the impact of today's economic crisis," Fattah said. "Mortgage foreclosures, record unemployment rates coupled with the credit crunch Credit Crunch An economic condition whereby investment capital is difficult to obtain. Banks and investors become weary of lending funds to corporations thereby driving up the price of debt products for borrowers. have made it increasingly difficult for cities to meet their financial commitments." Philadelphia Mayor Michael Nutter  This article or section contains information about one or more candidates in an upcoming or ongoing election.Content may change as the election approaches. last week hand delivered a letter signed by Atlanta Mayor Shirley Franklin Shirley Clarke Franklin (born May 10 1945) is an American politician, a member of the Democratic Party, and, since January 7 2002, the mayor of Atlanta, Georgia, a nonpartisan office. and Phoenix Mayor Phil Gordon
Phil Gordon (born July 6, 1970) is an American professional poker player, author, and commentator, based in Las Vegas, Nevada. to Treasury Secretary Henry Paulson making an appeal for $50 billion from the $750 billion bailout bailout The financial rescue of a faltering business or other organization. Government guarantees for loans made to Chrysler Corporation constituted a bailout. package. As Chairman of the Congressional Urban Caucus, Fattah guides House Members who represent the nation's largest metropolitan areas to formulate ideas on how best to address the challenges faced in America's urban communities. "Our cities need help. Mayors are struggling with critical issues that affect the quality of life for their residents. While trying to build up their infrastructure, many cities are also concerned that there are adequate resources in city pension funds to compensate eligible employees," declared Fattah. "Our nation won't thrive if our cities don't survive." As Caucus Chairman, Fattah is focused on creating a meaningful partnership between local leaders and the Federal government. The alliance he says will be vital in helping cities achieve financial stability and significant educational and job opportunities. |
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