Your employer doesn't need to know

| By

Much of America – hard-working, bill-paying America – has a damaged credit rating.

There are a lot of different reasons, but a lot of people just caught a bad break. They got sick. Their husband left or their wife died. They lost their job.

Problems only got worse after the financial crisis. Shrinking home prices made it impossible to sell or refinance a home. People lost their small businesses. Smaller savings left people without much cushion to ride out the tough times. People missed a payment or went into debt.

Most people recognize that bad credit means they will have trouble borrowing money or they will pay more to borrow. But many don't realize that a damaged credit rating can also block access to a job.

It was once thought that credit history would provide insight into someone's character, and many companies routinely require credit reports from job applicants. But research has shown that an individual's credit rating has little or no correlation with his ability to succeed at work. A bad credit rating is far more often the result of unexpected personal crisis or economic downturn than a reflection of someone's abilities.

Today, along with Senators Blumenthal, Brown, Leahy, Markey, Shaheen, and Whitehouse, I am introducing a bill to stop employers from requiring prospective employees to disclose their credit history or disqualifying applicants based on a poor credit rating.

Become a citizen co-sponsor of the Equal Employment for All Act.

After a terrible blow like a family death, a divorce, or a life-changing disease, many people scramble to get back to work, pick up a second job, or change jobs so they can get back on their feet financially. But they are knocked back by their damaged credit rating.

Highly qualified applicants with bad credit can be shut out of the job market. That's wrong.

Let's be honest: This is one more way the game is rigged against the middle class. A rich person who loses a job or gets divorced or faces a family illness is unlikely to suffer from a drop in his or her credit rating. But for millions of hard-working families, a hard personal blow translates into a hard financial blow that will show up for years in a credit report.

People shouldn't be denied the chance to compete for jobs because of credit reports that bear no relationship to job performance and that, according to recent reports, are often riddled with inaccuracies. Show your support for my new bill, the Equal Employment for All Act.

It's been five years since the financial crisis, and it's time for struggling families to stop paying the price for the recklessness on Wall Street and failed oversight in Washington that tanked our economy. 

The Equal Employment for All Act addresses just one small issue, but for many families, it'll make a world of difference.

Posted in:

In my heart

| By

Thanksgiving is a holiday I remember in blinks of memory.

My grandmother with her head bowed, leading the blessing.  

My Aunt Bee proudly presenting her special green Jell-O molded salad for everyone to admire.  

Our son Alex, racing through the house as a three-year-old, making monster noises and holding out his hands with pitted olives stuck on the end of each finger.  

Seven-year-old Amelia and her eight-year-old cousin Michelle decorating place cards and deciding where each relative should sit (and arguing loudly over whether Aunt Nancy's name was spelled "Ant Nancy" or "Ante Nancy"). 

Nephew Dan coming in just before dinner, still muddy from playing in the traditional high school rivalry game between Plymouth North and Plymouth South.

Baking pies with my granddaughters.  

Holding a tiny grandbaby and eating my dinner with one hand.  

Somewhere, we probably have photographs from every Thanksgiving – but even if we don't, I have them all in my heart.

Thanksgiving is a uniquely American holiday – a chance for all of us to give thanks for all the things that previous generations have given to us. But it is also a chance to think about the world we are leaving to the generations that will follow us.

I'm deeply grateful for every blessing in my life. I'm also deeply grateful to have the chance to fight for a world that includes opportunities for all our children and a real chance for hard-working people to build some security.

I realize that the changes we need to make will be hard, and I know that we won't win every fight – but I know that if we fight, we have a chance to build something better.  

Thanksgiving is a time for us to be grateful, and I'm grateful to have you by my side. Your stories, your hopes and wishes are with me today and every day.

From my family to yours, Happy Thanksgiving!

Posted in:

Where were these women filibustered?

| By

It hasn't been even a month since the Republicans shut down the government, and they're already trying to paralyze the government again.

There are vacancies on the DC Circuit Court of Appeals, and Republicans now hold the dubious distinction of filibustering all three women that President Obama nominated to fill those vacancies.

They all have extraordinary legal resumes and have received bipartisan support from top litigators around the country. They are among the top legal minds of a generation.

So why have these women been filibustered? To keep this President from doing his job.

With your help, we made enough noise to finally give Rich Cordray an up-or-down vote to lead the Consumer Financial Protection Bureau. We need the same sort of pressure for our judicial nominees.

Tell the Senate: It's the President's job to nominate highly qualified people to court vacancies. It's the Senate's job to confirm them. Give our judicial nominees an up-or-down vote.

Every day in Congress, we deal with the influence of powerful groups and their armies of lobbyists. But in our democracy, when we write laws, we can push back on their power. That's how we got a strong consumer agency to level the playing field for working families after the financial crisis.

But the story doesn't end when Congress passes a law. Powerful interests don't just give up – they shift their fight to the courts. They know if they can weaken or overturn a law in court – and rig the system with sympathetic judges in lifetime positions – they turn defeat into victory.

In the next few years, the DC Circuit will decide some of the most important cases of our time – including cases that will decide whether Wall Street Reform will have real bite or whether it will just be toothless.

Swaps dealers, the securities industry, the Business Roundtable, and the Chamber of Commerce are all lining up to challenge the new rules that agencies have written to try to put some teeth in Wall Street Reform and other laws. These big industry players want business-friendly judges to help them out.

Republicans may not like Wall Street Reform. They may not like Obamacare. But Congress passed those laws, and President Obama signed those laws. It is not up to judges to overturn those laws or their associated regulations just because they don't fit the judges' policy preferences.

We need to call out these filibusters for what they are: naked attempts to nullify the results of the last Presidential election – to force us to govern as though President Obama hadn't won the 2012 election.
 
Tell the Senate to give President Obama's court nominees an up-or-down vote.

We are caught in a fight over the future of our courts – a fight over whether the courts will be a neutral forum that decides every dispute fairly, or whether the courts will be stacked in favor of the wealthy and the powerful.

I'm in this fight, and I hope you are too.

Posted in:

Make no mistake - there is a crisis

| By

I spent most of my career studying the economic pressures on families – people who worked hard, played by the rules, but still found themselves hanging on by their fingernails to a place in the middle class.

A generation ago, middle class families could put away enough money during their working years to make it through their later years with dignity. But since that time, the retirement landscape has shifted dramatically against our families.

A third of working families on the verge of retirement have no savings of any kind. Another third have total savings less than their annual income. Just as people need to rely more than ever on pensions, employers have replaced guaranteed retirement income with 401(k) plans that leave retirees at the mercy of the market. And 44 million workers don't even have access to that sort of plan.

Add all of this up, and we're left with a retirement crisis – a crisis that is as real and as frightening as any policy problem facing the United States today.

Social Security is incredibly effective, it is incredibly popular, and the calls for strengthening it are growing louder every day. Will you join our national pledge to protect Social Security?

Today, there is a $6.6 trillion gap between what Americans under 65 are currently saving and what they will need to maintain their current standard of living when they hit retirement.  

Two-thirds of seniors rely on Social Security for the majority of their income in retirement, and for 14 million seniors – 14 million – this is the safety net that keeps them out of poverty. God bless Social Security.

And yet, instead of taking on the retirement crisis, instead of strengthening Social Security, some in Washington are actually fighting to cut benefits.

Let's look at the facts: Social Security will be safe for the next 20 years and even after that will continue to pay most benefits. With some modest adjustments, we can keep the system solvent for many more years – and could even increase benefits.  

The absolute last thing we should do in 2013 – at the very moment that Social Security has become the principal lifeline for millions of our seniors to keep their heads above water -- is allow the program to begin to be dismantled inch by inch.

If we want a real middle class that continues to serve as the backbone of our country, then we must take the Retirement Crisis seriously. Sign our national pledge to protect Social Security for America's seniors.

The conversation about retirement and Social Security benefits is not just a conversation about math. At its core, this is a conversation about our values.

I believe we honor our promises, we make good on a system that millions of people paid into faithfully throughout their working years, and we support the right of every person to retire with dignity.

Let's make sure my colleagues in Washington know that our values are America's values. Sign our pledge now.

Posted in:

The next Senator from Massachusetts

| By

We’ve seen where the Republicans want to take our country, and it isn’t pretty. That’s why we need real leaders -- people with courage, with heart, and with a real commitment to the common good.

I’m proud to endorse my friend Ed Markey, the newly elected Democratic nominee for the United States Senate here in Massachusetts, and I hope you will join Ed’s campaign, too.

I’ll do everything I can to make sure Ed joins me in the Senate in June. But he will need strong grassroots support to take on the powerful special interests that are lining up to stop him.

Sign up to help Ed Markey become the next Senator from Massachusetts.

We need more people in the Senate who are willing to stand up for our values and stand up for families. I’ve worked with Ed and I’ve seen him in the ring, and I know he will fight for what we believe in.

  • Ed will fight for families and small businesses -- to level the playing field and build a future for our kids and grandkids.
  • Ed will fight for women -- for equal pay for equal work and access to health care screenings and birth control.
  • Ed will fight for working families -- for the right to unionize and collective bargaining.
  • Ed will fight for seniors -- for protecting Medicare and Social Security, the commitment we make to ourselves and to each other.
  • Ed will fight for the environment -- in passing on a world to our children where you can drink the water and breathe the air.
  • And Ed will fight for accountability on Wall Street -- to end “Too Big to Fail” and “Too Big to Jail” once and for all.

I know that the people of Massachusetts share the same values that Ed Markey and I do. But I also know that we can’t take anything for granted in the June special election. After all, it was just a few years ago when Scott Brown shocked the world and won the last Massachusetts special election.

I may be preaching to the choir, but we absolutely cannot lose another special election in Massachusetts -- or let our guard down even for a minute.

National Republicans and powerful corporate interests are going to do everything they can to take back a Senate seat in Massachusetts and keep another progressive like Ed Markey out of the Senate.

That’s why Ed Markey needs your help, and that’s why I’m counting on you. Sign up now to join his campaign.

In the weeks ahead, we’re going to need you knocking on doors, making phone calls, and talking to your friends and neighbors about why this election is so important. You’re going to make the difference for Ed Markey.

Nearly 60,000 people in Massachusetts contributed to my Senate campaign last year. Let’s give Ed Markey that same enthusiastic support! Make a donation to his campaign now.

Posted in:

I'll come out and say it

| By

When my campaign team planned our final budget, we knew our Get Out the Vote push was going to be BIG.

But it was far bigger than anyone ever expected.

This extraordinary effort was wonderful and it's how we won, but it created some planning challenges.

For example, we knew we would have to buy a LOT of coffee and pizza all across the Commonwealth for our volunteers. After all, we've been proud beyond words to have one of the scrappiest, toughest grassroots armies ever assembled in Massachusetts or even the country -- and a grassroots army moves on coffee and pizza.

But even our high expectations were shattered. Thousands more volunteers showed up -- and that meant even more last-minute coffee and pizza.

And more people called in asking for help to get to the polls. We were delighted, but it meant we needed to rent dozens more vans to drive every last one of them to their voting places.

But one of the results of our embarrassment of riches was, well I'll come out and say it -- we ended up with a little bit of debt.

Lauren, we need a little more money to pay off our final bills. Can you help one more time?

Let's be clear: we won our election because we stuck to our values, we talked about real issues, and we put our money where our mouth was -- into the grassroots and our Get Out the Vote program.

I couldn't be prouder of our effort. In the last four days before the election, our grassroots volunteers knocked on more than 600,000 doors. On Election Day, more than 20,000 people volunteered and knocked on almost 400,000 doors. Those numbers are unlike any we've ever seen in Massachusetts.

The whole effort was possible only because so many people gave their hearts and souls and opened their wallets to this campaign so that we could hire dozens of field organizers who covered every corner of the state. People like you chose to sacrifice for this campaign because you believe in level playing fields for the little guys and accountability for the big guys -- and you made it happen.

All those financial contributions made our victory possible. Everyone who bought a campaign t-shirt or scrapped together a few dollars for one of our end-of-quarter fundraising drives helped finance a television ad in Springfield or another rental van in New Bedford. Billboards and Warren-for-Senate signs -- you helped us pay for all of them.

And the numbers are just remarkable. We raised money from more donors than any Senate campaign in history. The total came to more than $42 million -- including from nearly 60,000 donors in Massachusetts alone. It takes my breath away.

I know this was the most expensive Senate race in the country. And I know that we've sent you a bazillion emails asking for money over the past year. I'm sure you expected them to all end once the votes were counted -- and yes, that's what I thought too. Right now, I'd rather be writing about filibuster reform and banking regulation.

But we still have a little more to do to wrap things up. Can you help one more time to finish 2012 strong?

We fought hard, together, because we know working families deserve a real chance to build some security. I am going to Washington to do my best to make you proud, fighting my hardest for a level playing field.

And I just had to say it again: I'm so honored to be on your side.

Posted in:

I won't just be your Senator

| By

A year ago last night, I made a promise to you. I stood on the stage at our election night party and I said:

"I won't just be your Senator, I will also be your champion."

Every day that I'm in the United States Senate, I think about those words from my election night speech.

Yesterday, I gave a speech on the floor of the Senate about the Employment Non-Discrimination Act – legislation that would finally protect LGBT Americans from discrimination in the workplace.

Equal marriage is now the law in 14 states. Twenty-one states and the District of Columbia have put in place laws to protect against employment discrimination based on sexual orientation, and the Supreme Court has rejected the Defense of Marriage Act.

For many years, Senator Ted Kennedy and Congressman Barney Frank led the fight in Congress to pass ENDA. I thought of them, and thought about how many of my friends and neighbors, how many people across this country, had worked so hard for this moment.

I felt a deep joy to be on the floor of the Senate today to hear the roll call and the bill finally pass. I thought to myself: We're one step closer to a country where equal means equal.

Now we turn to the House Republicans. They seem ready to stop the bill in its tracks – to continue their fight against the promises of equality that define our country, to resist the will of the American people. If they resist, I'm ready to fight. We are not going back.

When I said I wanted to be your champion a year ago, I meant a champion for ALL of us. Students trying to get an education without going broke. Seniors trying to live with dignity on their Social Security benefits. Parents trying to make ends meet on a level playing field. And every American trying to work without fear of losing their job over who they are and who they love.

To everyone who shared your hopes and dreams with me during the campaign and put your faith in my ability to fight for you, know this: it's been a year, but I'm still ready to fight.  

Whether that means standing up to extreme Republicans in the House or demanding accountability for big banks that break the rules, I'm still ready to fight.

I'm still ready to fight because I believe as strongly as ever that when we fight, we can win.

Thank you for continuing to be a part of this. You have always had my back, and I will always have yours.

Posted in:

Woo-hoo!

| By

Congratulations Red Sox Nation!

I was thrilled to recognize the Red Sox for their outstanding, historic season on the floor of the United States Senate this morning.

The Red Sox mean so much to the Commonwealth of Massachusetts -- and this year, they have been a special symbol of Boston's strength and resilience.

From their historic worst-to-first turnaround, to their first win in front of the Fenway Faithful since 1918, to their scruffy beards, this Sox team will be remembered forever for its heart as much as it will for its success.

Like all of us in Massachusetts, they have shown what it means to be Boston Strong.

I am honored every day to represent the people of Massachusetts and the values that we stand for, and I'm especially proud to congratulate our team today.

Go Sox!

Posted in:

Dysfunction

| By

I'm glad that the government shutdown has ended, and I'm relieved that we didn't default on our debt.

But I want to be clear: I am NOT celebrating tonight.

Yes, we prevented an economic catastrophe that would have put a huge hole in our fragile economic recovery. But the reason we were in this mess in the first place is that a reckless faction in Congress took the government and the economy hostage for no good purpose and to no productive end.

According to the S&P index, the government shutdown had delivered a powerful blow to the U.S. economy. By their estimates, $24 billion has been flushed down the drain for a completely unnecessary political stunt.

$24 billion dollars. How many children could have been back in Head Start classes? How many seniors could have had a hot lunch through Meals on Wheels? How many scientists could have gotten their research funded? How many bridges could have been repaired and trains upgraded?  

The Republicans keep saying, "Leave the sequester in place and cut all those budgets." They keep trying to cut funding for the things that would help us build a future. But they are ready to flush away $24 billion on a political stunt.

So I'm relieved, but I'm also pretty angry.

We have serious problems that need to be fixed, and we have hard choices to make about taxes and spending. I hope we never see our country flush money away like this again. Not ever.

It's time for the hostage taking to end. It's time for every one of us to say, "No more."

Posted in:

Stop the presses: I agree with Wall Street

| By

The United States Treasury says that in exactly one week, it won't have enough money to pay the government's bills.

We're not in this position because President Obama or the Secretary of the Treasury spent more than they were supposed to. And we're not in this position because investors refuse to buy our bonds.

We're in this position for one reason, and one reason only: because Congress told the government to spend more money than we have, and now Congress is threatening to run out on the bill. This isn't about new spending. This is about paying for the bills we've already run up.

The idea that we can renege on our debts without paying a high price is a fantasy – a very dangerous fantasy.  

We must raise the debt ceiling – and we must do it now. Tell Congress to do its job, pay our bills, and prevent the first default in the history of the United States.

Consider what happened in 2011, the last time the government came to the edge of a voluntary default.

Even the possibility that the government would not make good on its debts spooked investors and pushed up interest rates. According to experts, even talking about default cost the government $19 billion over ten years.

And consumers and businesses got spooked too. The S&P index dropped by 17 percent. $800 billion dollars in retirement assets vanished. Mortgage rates went up nearly three-quarters of a point. The result was less consumer spending, fewer business investments, lower home ownership rates, and slower job growth.  

That's what happened the last time Congress came to the edge of a voluntary default. What happens if we actually default?  

Some economists estimate that the rise in interest rates will cost us $75 billion a year. Social Security checks and Medicare reimbursements will be delayed. People won't be able to pay their mortgages or small business loans. Interest rates will spike, and the credit market could freeze.

If we default on our debt, we could bring on a worldwide recession – a recession that would pummel hard-working middle class people, people who lost homes and jobs and retirement savings and who are barely getting back on their feet.  

I don't always see eye-to-eye with Wall Street CEOs, but on this one we agree: We can't run out on the bill and cause financial calamity for working families.

Tell Congress to stop playing with the lives of every American and start doing what the American people sent us here to do. Raise the debt ceiling and pay our bills now.

This fight is about financial responsibility. I can think of a lot of things we could do with $75 billion dollars. We could ramp up Meals on Wheels and Head Start. We could give students some relief on their loans. We could invest in more medical and scientific research. We could pay down the debt.  But if we default on our loans, we've just flushed money down the drain. That's about as irresponsible as it gets.

For many things that we do in Congress, we can make a mistake, and then back up and fix it. A default on our national debt is not one of those things. If we default, this country will pay.

We are the United States of America. We always pay our debts – in full and on time. That's who we are.

Posted in:

Show Newer Posts » « Show Older Posts