The recent financial crisis underscores how interconnected our economy is. The irresponsible decisions made by Wall Street had a ripple effect across our economy and the consequences have been severe. The savings, home values, jobs, and businesses of millions of Americans have been adversely affected. That is why the Senate is taking action on Wall Street reform legislation to prevent another crisis that threatens the entire economy.

In 2009, I voted against bailing out Wall Street because I didn't think taxpayers should be on the hook for the bad decisions at big banks. As we work to reform Wall Street, protecting taxpayers and consumers should be our top priority. At the same time, I am working to help ensure that community banks and credit unions, which did not cause this problem, are not unduly burdened by new regulations.

Supreme Court Nomination

On May 10, President Obama nominated Solicitor General Elena Kagan to replace retiring Justice John Paul Stevens on the Supreme Court. I had the pleasure of meeting Solicitor General Kagan in 2005 when she served as Dean of Harvard Law School and I was the Director of the Institute of Politics at Harvard's John F. Kennedy School of Government.

Kagan is widely regarded as one of our nation's top legal minds. She has earned the respect and praise of Democrats and Republicans alike for her temperament and integrity, and she is a known consensus builder. Solicitor General Kagan has served the country well throughout her career as an educator and public servant, and I commend President Obama on this strong Supreme Court nomination. Just as Elena Kagan was swiftly confirmed with bipartisan support to serve as Solicitor General, I hope the confirmation process in the Senate will be fair and expeditious.

Highlights

Franklin Pierce Law Center Commencement: On May 15, I had the pleasure of delivering the commencement address at Franklin Pierce Law Center. My remarks focused on issues of national security, specifically the legal and institutional challenges our nation faces in addressing terrorism. The graduation ceremony was a great success and I was delighted to join in celebrating the accomplishments of the class of 2010! Read More

Indian Ambassador visits New Hampshire: I was pleased to invite the Indian Ambassador to the United States, Meera Shankar, to New Hampshire on April 23 to meet with local business leaders and tour ARC Energy in Nashua, GT Solar in Merrimack, and the Amoskeag Business Incubator (ABI) in Manchester. Exporting New Hampshire products and services to international markets will help the state's economy grow during these difficult times. Most importantly, increasing sales will help companies create jobs here in New Hampshire.

Senator Jeanne Shaheen
jeanne.shaheen@shaheen.enews.senate.gov

In Concord, we have finished committee hearings and the full Senate will be voting on all remaining legislation this week. (The House is doing the same.) Once that process is complete, bills will either move to the Governor for his signature or will go to "committees of conference" where House and Senate members gather to iron out differences between the versions of the same bills passed by each body. As we look to conclude the session, I would like to share some of the bills I've introduced in the Senate this year.

But before doing so, I wanted to reiterate that closing the budget gap continues to be a central focus of the Legislature. The Governor proposed a plan for 2010 and 2011, which included cuts, savings through certain debt restructuring, and revenue in the form of an increase in the cigarette tax - among other things. Certain parts of the Governor's plan require legislative approval. As such, the plan has been reviewed and revised by the House Finance Committee. (Among other changes, the cigarette tax increase was taken out but the tax on other tobacco products was raised.) The plan will be taken up by the full House soon. The Senate will also have an opportunity to weigh in (through a committee of conference as referenced above), so the final product may well look different still.

Here are some of the bills that I have introduced this year:

Healthcare

One bill concerning health care coverage that I introduced this year (SB 390) would provide employees of businesses that do not currently offer health care coverage the opportunity to obtain it. Briefly, the bill enables employers to set up IRS Section 125 premium-only plans, from which employees could purchase insurance (with pre-tax dollars) through payroll deduction at group rates. (Group rates are significantly less expensive than individual rates.) Essentially, it provides another way to provide access to insurance coverage for many of the working uninsured.

Another bill is SB 510, which will create a study committee to look at the issue of oral as opposed to IV cancer treatment parity. While oral cancer treatment has increased, barriers to its common usage remain - specifically cost. Since oral cancer treatments are commonly covered under pharmacy benefits, a patient's out-of pocket expenses are typically much higher than the costs for IV treatment, which are covered as a medical benefit under most insurance plans. There are reasons this may be the case, so a study was proposed to look into the issue. Other states have passed legislation requiring parity, with slight increases in cost. I look forward to seeing what the committee might recommend.

Consumer and other protections

SB 431 - relative to housing and tenancy protections for victims of domestic violence is currently being worked on by a sub-committee of the House Judiciary committee. Briefly, this bill would preclude landlords of certain apartment units from evicting a tenant based solely on their status of being a victim of domestic violence. This bill was modeled after federal legislation governing subsidized housing, and also provides clarification for landlords having to evict one party of two on a lease as a result of an appropriate court order.

SB 193, which concerns the maximum interest rate that can be charged on small loans, may sound familiar. Last session, the Legislature capped the interest rate on "payday" and car title loans, but this bill was necessary in order to close a potential loophole that certain lenders were trying to exploit by structuring similar loans under a different name.

SB 517-FN-A, which creates a veteran's legal aid project, addresses the particular legal needs of veterans (such as benefits, discharge status appeals, etc.). Many veterans' legal needs go unaddressed (or underserved) and this bill would address those needs by collaboration between New Hampshire Legal Assistance and the Veteran's Council. All agree with the policy behind the bill, but now we are working with the federal delegation to secure funding.

Thank you, and please do not hesitate to contact me regarding legislation of interest - either those discussed above or otherwise. I'll send a post-session wrap-up soon...

Regards,

Matthew Houde

NH Senate - District 5

Matthew.houde@leg.state.nh.us